ICICI Prudential AMC: A Step Closer to Historic IPO

ICICI Prudential AMC has raised Rs 4,815 crore through pre-IPO funding from 26 investors, including ICICI Bank and various institutional investors. With the upcoming IPO set for December, the company aims at a Rs 10,602-crore offering priced between Rs 2,061 and Rs 2,165 per share.

ICICI Prudential Asset Management Company (AMC), a subsidiary of ICICI Bank, has successfully raised Rs 4,815 crore from 26 domestic and international investors through a pre-IPO round. The transaction involved a private placement of over 22 million equity shares at Rs 2,165 each, according to a statement released on Wednesday.

The diverse range of investors joining this substantial fundraise included major entities like Lunate Capital, the Estate of late Rakesh Jhunjhunwala, IIFL Asset Management, and others. Furthermore, several insurance companies participated in the pre-placement, broadening the investor base.

ICICI Prudential AMC is now preparing for its Rs 10,602-crore IPO scheduled for December 12-16, following the pre-IPO success. The offering, exclusively an offer-for-sale by Prudential Corporation Holdings, will list ICICI Prudential AMC as the fifth asset management firm on Indian stock exchanges.

(With inputs from agencies.)