Prudent Corporate Advisory Services Ltd. share price target

Prudent reported operating revenue of INR2.9b, +36% YoY (in line) in 3QFY25, driven by 36% YoY growth in commission and fees income to INR2.8b. For 9MFY25, operating revenue rose 45% YoY to INR8.2b.

Prudent Corporate Advisory Services (Prudent) has progressed well in terms of AUM growth aided by MTM, traction in SIP and growth in MFDs. AUM/SIP book/MFD count clocked CAGRs of 31%/28%/21% between FY19–24 and grew by 11.6%/12.1%/4% on a QoQ basis in Q2FY25.

Prudent Corporate Advisory Services (Prudent) has progressed well in terms of AUM growth aided by MTM, traction in SIP and growth in MFDs. AUM/SIP book/MFD count clocked CAGRs of 28%/23%/37% between FY19–FY23 and grew by 23%/15%/5% in H1FY24. This has led to elevation in distributor rankings.

Prudent Corporate Advisory Services (Prudent) has progressed well in terms of AUM growth aided by MTM, traction in SIP and growth in MFDs. AUM / SIP book / MFD count clocked CAGRs of 28% / 23% / 37% between FY19-FY23. There has been a QoQ increase of 30bps in equity AUM share.

Prudent Corporate Advisory Services Limited (Prudent) is one of the leading mutual fund distributors in terms of average assets under management (AAUM) of Rs 560bn as of Mar’23 and commission received of Rs 5bn as of FY23.

IPO Note

Issue Snapshot: Issue Open: May 10 May 12, 2022 Price Band: Rs. 595 630 (A discount of Rs.59 for all eligible employee) *Issue Size: Rs 538.6 cr (Entirely offer for sale of 8,549,340 eq sh) Reservation for: QIB Upto 50% eq sh Non Institutional atleast 15% eq sh ((including 1/3rd for applications between Rs.2 lakhs to Rs.10 lakhs)) Retail atleast 35% eq sh Employee Reservation: aggregating upto Rs. 6.5 Cr Face Value: Rs 5 Book value: Rs 51.95 (Dec 31, 2021) Bid size: - 23 equity shares and in multiples thereof 100% Book built Issue Prudent Corporate Advisory Services Limited - IPO Note