Financial product distributors play a critical role in the market ecosystem in India. The country\u2019s retail financial products distribution industry grew at a CAGR of around10% from 2016 to 2021 and reached \u20b9161 trillion by March 2021.<\/p>\n\n\n\n
The retail mutual funds category posted the highest CAGR of over 22% amongst the other retail financial products categories and touched \u20b917 trillion as of March 2021.<\/p>\n\n\n\n
Prudent Corporate Advisory Services Ltd recently filed draft papers with the markets regulator to raise funds through an initial public offering. The IPO consists of an offer for the sale of 8.55 million shares by existing shareholders and promoters.<\/p>\n\n\n\n
Prudent Advisory will not directly receive any proceeds from the offer and all the proceeds will go to the selling shareholders, in proportion to the shares sold by them.<\/p>\n\n\n\n
Prudent Corporate Advisory is one of the largest independent retail wealth management service providers in India, excluding banks and brokers. Its services are offered through FundzBazar, PrudentConnect, Policyworld, WiseBasket, Prubazar, and CreditBasket.<\/p>\n\n\n\n
The company\u2019s primary business is the distribution of mutual funds. It also distributes other financial products such as insurance, portfolio management schemes, alternative investment funds, corporate fixed deposits, bonds, unlisted equities, stockbroking solutions, etc.<\/p>\n\n\n\n
The Gujarat-based company provided wealth management services to 772,899 unique retail investors as of March 2021, through 17,583 mutual fund distributors\/independent financial advisors on its business-to-business-to-consumer platform. It has branches in 105 locations across 20 states in India.<\/p>\n\n\n\n
In fiscal 2021, total revenue from operations was at \u20b92.86 billion against \u20b92.34 billion a year ago. Net profit for the period stood at \u20b9453 million versus \u20b9278.5 million last year.<\/p>\n\n\n\n
Prudent Advisory derives its revenue from commission and trail income, which is a recurring periodic payment. However, with growing technology and an increase in ease of investments, the company\u2019s existing customers and potential clients will not find it valuable to invest through a third-party platform. The investors may choose to invest in funds directly, thereby reducing or eliminating the company\u2019s involvement in the process.<\/p>\n","protected":false},"excerpt":{"rendered":"
Financial product distributors play a critical role in the market ecosystem in India. The country\u2019s retail financial products distribution industry grew at a CAGR of around10% from 2016 to 2021 and reached \u20b9161 trillion by March 2021. The retail mutual funds category posted the highest CAGR of over 22% amongst the other retail financial products […]<\/p>\n","protected":false},"author":83,"featured_media":124093,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1,5748,10444],"tags":[8265,811,8568,9026],"class_list":["post-124903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-stocks","category-ipo","category-others","tag-finance","tag-insurance","tag-investment-management","tag-wealth-management"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":156400,"url":"https:\/\/alphastreet.com\/india\/prudent-corporate-advisory-services-ltd-q2fy24-7-rise-in-profits\/","url_meta":{"origin":124903,"position":0},"title":"Prudent Corporate Advisory Services Ltd Q2FY24; 7% rise in Profits","author":"Chirag Gupta","date":"November 17, 2023","format":false,"excerpt":"Incorporated in 2003, Prudent Corporate Advisory Services Limited provides retail wealth management services. The company offers Mutual Fund products, Life and General Insurance solutions, Stock Broking services, SIP with Insurance, Gold Accumulation Plan, Asset Allocation, and Trading platforms. 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