Prudent Corporate IPO: How to Check Allotment Status Online

May 18, 2022 Trading 3 min read
Prudent Corporate IPO

The initial public offering (IPO) of Prudent Corporate Advisory Services received decent subscription led by demand from retail investors as well as qualified institutional buyers. The IPO was subscribed 1.22 times as it received bids for 73.31 lakh shares against the issue size of around 60.19 lakh shares.

Prudent Corporate Advisory Services IPO was open during May 10-12. The portion reserved for retail individual investors was subscribed 1.29 times, QIB quota was subscribed 1.26 times and that of Non-Institutional Investors received 0.99 times subscription. The Employees quota was subscribed 1.23 times.

The price band for the IPO was Rs 595-630 per share. The Rs 538.61-crore worth public issue comprised an offer-for-sale of up to 85.49 lakh shares by shareholders and promoters of the company.

Prudent Corporate Advisory Services had already raised Rs 159.43 crore from 24 anchor investors at the upper price band of Rs 630 per equity share on May 9.

Prudent Corporate Advisory Services will finalise the share allotment on May 18, 2022. Check out the important dates and details about the IPO below:

Prudent Corporate Advisory Services IPO – Important Dates & Details

Issue Opening Date May 10, 2022
Issue Closing Date May 12, 2022
IPO Size Rs 538.61 crore
Price Band Rs 595 to 630 per share
Bid Lot 23 shares and in multiples thereof
Face Value Rs 5 per share
IPO Allotment Date May 18, 2022
Initiation of Refunds May 19, 2022
Credit of Shares to Demat May 20, 2022
IPO Listing Date May 23, 2022

Documents/details you will require to check Prudent Corporate Advisory Services IPO allotment status: 

PAN Card 

DP client ID

Application number

How to check Prudent Corporate Advisory Services IPO allotment status? 

Investors who had bid for the Prudent Corporate Advisory Services IPO can check the IPO allotment status of their application online, through these 2 modes:

The websites of BSE/NSE OR 

The registrar – Link Intime India Pvt Ltd

How to check Prudent Corporate Advisory Services IPO allotment status through BSE/NSE website: 

Step 1: Visit https://www.bseindia.com/investors/appli_check.aspx

Step 2: Select ‘Equity’ in ‘Issue Type’

Step 3: Select ‘Prudent Corporate Advisory Services Ltd.’ in the Issue Name

Step 4: Enter the Application Number or PAN

Step 5: Verify and click on ‘I’m not a robot’

Step 6: Click on ‘Search’

How to check Prudent Corporate Advisory Services IPO allotment status through the registrar’s website: 

Step 1: Visit https://linkintime.co.in/mipo/ipoallotment.html

Step 2: Select the Query by ‘PAN’, ‘Application No’ Or ’DPID/Client ID’ 

Step 3: Select ‘Prudent Corporate Advisory Services Ltd.’

Step 4: Enter the PAN, Application number or DPID/Client ID as per the selected option. Finally, click on the ‘Search’ button.

Here’s how a typical IPO allotment search result page will look like: 

Prudent Corporate Advisory Services Ltd

Application Details: 

Sole/1st Applicant Vivek Jain
Cut off price 630
Securities Applied 23

Allotment Details:

Securities Allotted Amount Adjusted
23 14,490

About – Prudent Corporate Advisory Services

Prudent Corporate Advisory Services is a retail wealth management services provider. The company offers mutual fund products, stock broking services, general insurance solutions, asset allocation, trading platforms, SIP with insurance and Gold Accumulation Plan.

The company is amongst the top 10 mutual fund distributors in terms of average assets under management (AUM) as of FY21.

Prudent Corporate Advisory Services offer digital wealth management (DWM) solutions through platforms such as FundzBazar, PrudentConnect, Policyworld, WiseBasket and CreditBasket. 

The company provided wealth management services to 13,51,274 unique retail investors through 23,262 channel partners as of December 31, 2021.

Financials – Prudent Corporate Advisory Services 

As of December 31, 2021, Prudent Corporate Advisory Services’ assets under management from the mutual fund distribution business (AUM) stood at Rs 48,411.47 crore with 92.14% of total AUM being equity-oriented. 

During 9MFY2022, the company reported revenue of Rs 321.2 crore and net profit of Rs 57.6 crore, which already surpassed FY21 net profit of 45.3 crore.

Management – Prudent Corporate Advisory Services 

Sanjay Shah is the Chairman and Managing Director of Prudent Corporate Advisory Services.

Shirish Patel is a Whole-time Director and the Chief Executive Officer, while Chirag Shah is a Whole-time Director of the company.

Dhiraj Poddar is a Non-executive Director of the company, a nominee director of Wagner on the Board.

Chirag Kothari is the Chief Financial Officer of the company. 

Deepak Sood, Karan Kailash Datta, Shilpi Thapar and Aniket Talati are the Independent Directors of the company.


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