Prudent Corporate Advisory Services IPO: Key details to know

Prudent Corporate Advisory Services (Prudent Corporate) is primarily involved in the distribution of mutual funds. As of December 2021, the company distributed mutual fund schemes of 42 asset management companies (AMCs). It distributes mutual funds through a large network of mutual fund distributors (MFDs) as well as through its own relationship managers. These MFDs make use of the company's 'FundzBazar' platform to help retail investors invest in mutual funds. It provided wealth management services to around 13.5 lakh unique retail investors through 23,262 MFDs on its platform and spread across branches in 110 locations in 20 states in India, as of December 2021. Prudent Corporate is the 8th largest player in the industry on an average AUM basis (1.4 per cent market share as of FY21) and 6th largest on a commission earned basis (4.2 per cent market share as of FY21). As of December 2021, AUM from the mutual fund distribution business stood at Rs 48,411 crore. Its technology platform has given it wide acceptability amongst MFDs in the industry. Around 18.5 per cent of the MFDs registered with AMFI were impanelled with the company as of December 2021. Amongst the national distributors in India, as of FY21, Prudent Corporate is the 2nd largest on both average AUM and commission ea