Prudent Corporate Advisory Services prices IPO at Rs 595-630 per share

Prudent Corporate Advisory Services, a mutual fund distributor, has set a price band of Rs 595-630 per share for its IPO. 

The Ahmedabad-based firm’s IPO will open from May 10 to May 12.

At the top-end of the price band, the IPO size works out to Rs 535.5 crore and the company will be valued at Rs 2,600 crore. 

The offering is entirely an offer for sale. 

Wagner, an associate firm of US-based private equity TA Associates, is selling shares worth Rs 527 crore in the IPO.

Prudent Corporate is the country’s leading national distributor of mutual fund products among the non-banking and non-broking players. The company also distributes insurance products and offers trading in equities.