ICICI Prudential AMC's Mega IPO: A Step Forward in Asset Management

ICICI Prudential Asset Management Company, a subsidiary of ICICI Bank, has raised Rs 3,022 crore from anchor investors as it prepares for its significant IPO. The initial share-sale will be entirely an offer-for-sale, with various domestic and international investors participating ahead of its stock market debut.

ICICI Prudential Asset Management Company, a key arm of ICICI Bank, successfully garnered Rs 3,022 crore from anchor investors. This marks a pivotal step before the company's substantial IPO slated to begin public subscription. The anchor investors include notable foreign and domestic entities, underlining widespread interest and confidence in the offering.

The company's anchor book featured prominent participants like the Government of Singapore, Fidelity, Norges Bank, and Abu Dhabi Investment Authority. Major domestic players such as LIC and renowned mutual funds also participated. The price per share is set at the higher end of Rs 2,165, reflecting strong investor demand.

The anticipated IPO, opening on December 12 and closing on December 16, will see an offer-for-sale by Prudential Corporation Holdings. The company, valuing at approximately Rs 1.07 lakh crore, is poised to debut on Indian stock exchanges on December 19, expanding the presence of the ICICI Group in public markets.

(With inputs from agencies.)