ICICI Prudential AMC Gears Up for Rs 10,000 Crore IPO Launch

ICICI Prudential Asset Management Company, a subsidiary of ICICI Bank, has obtained SEBI's approval to launch an IPO aimed at raising Rs 10,000 crore. The IPO, which likely hits the market this month, is an offer for sale by UK-based Prudential Corporation Holdings, not generating fresh capital for the company.

ICICI Prudential Asset Management Company, a subsidiary of ICICI Bank, is on the verge of launching a significant IPO after securing approval from SEBI, according to a recent market update.

The company aims to raise Rs 10,000 crore through an offer for sale comprising 1.76 crore shares by its promoter, Prudential Corporation Holdings, without issuing any new shares.

As ICICI Bank maintains its majority stake in the asset management firm, the IPO coincides with a robust primary market environment, evidenced by 96 IPOs this year raising Rs 1.6 lakh crore.

(With inputs from agencies.)