ICICI Prudential AMC Set for Landmark IPO Debut

ICICI Prudential AMC announces an IPO at a price band of Rs 2,061-2,165 per share, with a valuation of Rs 1.07 lakh crore. The IPO, from December 12 to 16, is an Offer-for-Sale by Prudential Corporation Holdings. This listing makes it the fifth asset management firm to go public.

ICICI Prudential Asset Management Company (AMC) is gearing up for a highly anticipated initial public offering (IPO), marking a milestone for the firm. The price range for the shares is set between Rs 2,061 and Rs 2,165, valuing the company at approximately Rs 1.07 lakh crore (USD 11.86 billion).

The IPO, launching on December 12 and closing on December 16, is an entire Offer-for-Sale (OFS) involving over 4.89 crore equity shares by the UK-based promoter Prudential Corporation Holdings. With no fresh issue component, the proceeds will benefit the selling shareholder, leaving ICICI Prudential AMC without direct capital from this offering.

This development places ICICI Prudential AMC as the fifth asset management firm to be listed on the exchanges, following notable predecessors. As part of the ICICI Group's public entities, the company will debut on the stock market on December 19, with allocations made for institutional and retail investors alike.

(With inputs from agencies.)