The Initial Public Offerings(IPO) for the week are –
Prudent Corporate Advisory Services Limited-
Prudent Corporate Advisory Services Limited is one of the largest independent retail wealth management services groups (excluding the banks and brokers) in India and is one of the top mutual fund distributors in terms of assets under management (AUM). It offers a technology-enabled, comprehensive investment and financial services platform with solutions that are critical for financial product distribution and is present across both offline and online platforms.
Prudent corporate advisory services were incorporated in 2003 and now provides wealth management services to 772899 retail investors through 17, 583 mutual fund distributors on its business-to-business-to-consumer platform that is spread across branches in 105 locations in 20 states in India. Of the branches; 45 are located beyond the top 30 cities and 60 are located in the top 30 cities.
Prudent also distributes life and general insurance products in India through its subsidiary Gennext. It has distributed 86,988 policies across the life and non-life segments and the total policies distributed increased from 53,221 in fiscal 2019 to 86,988 in fiscal 2021.
The promoter of the company is Mr. Sanjay Shah. Listing the company on the stock exchanges will enhance its visibility and brand image of the company.
The company had revenues of Rs 225 crore with a net profit of 21 crores (Year ended March 31, 2019), revenues of Rs. 236.2 crore with a net profit of Rs. 27.8 crore (Year ended March 31, 2020) and revenue of Rs. 294.8 crore with a net profit of Rs. 45.2 crore (Year ended March 31, 2021).
Delhivery Limited-
Delhivery provides supply chain solutions to a diverse base of 21342 active customers that includes e-commerce marketplaces, direct-to-consumer e-tailers, and SMEs across many verticals such as FMCG, consumer durables, and lifestyle, retail, automotive, and manufacturing. This has been achieved through high-quality logistics infrastructure and network engineering, a large network of domestic and global partners with significant investment in automation.
It provides a full range of logistics services that include express parcel delivery, heavy goods delivery, PTL freight, TL freight, warehousing, supply chain solutions, cross-border express, and freight services along with value-added services such as payment collection and processing, eCommerce return services, installation and assembly services, and fraud detection.
The in-house logistics stack of Delhivery limited is built to meet the needs of modern supply chains. It has over 80 applications through which it provides various services. Its platform is designed so as to form the building blocks for logistics applications and provides a configurable framework and tools to enable developers to build custom applications. The company collects, stores, and processes a vast amount of transaction and environmental data to guide decision-making. It uses machine learning to build various capabilities that include intelligent geo-location, network design, route optimization, load aggregation, ETA prediction, and product identification that enables it to execute operations in an efficient manner. Delhivery operates 20 fully and semi-automated solution centers and 86 gateways across India.
Mr. Deepak Kapoor is the Chairman and non-executive independent director of the company. The objects of the issue are to fund the organic growth initiatives, fund the inorganic growth initiatives through acquisition and other strategic initiatives, and for general corporate purposes.
The company had revenues of Rs 1694.8 crore with a loss of 1783.3 crores (Year ended March 31, 2019), revenues of Rs. 2780.5 crore with a loss of Rs. 268.8 crore (Year ended March 31, 2020) and revenue of Rs. 3646.5 crore with a loss of Rs. 415.7 crore (Year ended March 31, 2021).
Venus Pipes & Tubes Limited-
Venus pipes and tubes limited is a stainless steel pipe and tubes manufacturer and exporter having six years of manufacturing experience in stainless steel and tubular products in two categories –
- Seamless tubes/pipes.
- Welded tubes/pipes that have five products as given below-
a) Stainless steel high precision and heat exchanger tubes.
b) Stainless steel hydraulic and instrumentation tubes.
c) Stainless steel seamless pipes.
d) Stainless steel welded pipes.
e) Stainless steel box pipes.
The company supplies its products to diverse sectors such as chemicals, engineering, fertilizers, pharmaceuticals, power, food processing, paper, and oil and gas. The manufacturing plant of the company is located at Bhuj which is around 55 kilometers from Kandla and 75 kilometers from Mundra.
The basic raw material of the company is SS coils and hollow pipes and it imports the raw materials from domestic suppliers as well as international suppliers from China, Indonesia, Malaysia, and Singapore.
Venus pipes and tubes sell its products both in the domestic as well as international markets. In the domestic market, it sells its products to traders and stockists and in the International markets, it sells its products to 18 countries that including Brazil, the UK, Israel, Kuwait, and the European Union.
The promoters of the company are Mr. Megharam Sagramji Choudhary, Mr. Jayantiram Motiram Choudhary, Mr. Dhruv Mahendrakumar Patel, and Mr. Arun Kothari. The objects of the issue are to finance the project cost towards capacity expansion, technological up-gradation, cost optimization, backward integration of hollow pipes and to meet the long-term working capital requirements of the company.
The company had revenues of Rs 118.7 crore with a net profit of 3.75 crores (Year ended March 31, 2019), revenues of Rs. 177.8 crore with a net profit of Rs. 4.12 crore (Year ended March 31, 2020) and revenue of Rs. 309.3 crore with a net profit of Rs.23.6 crore (Year ended March 31, 2021).