The $1.2-billion ICICI Prudential AMC IPO is about to open for subscription in the present day, paving the way in which for an inventory that may make it the nation’s second-most useful mutual fund.
On provide within the ICICI Prudential AMC IPO are as much as 4.90 crore fairness shares in a worth band of ₹2,061-2,165 apiece, implying a valuation of as a lot as ₹1.07 lakh crore. Its debut on 19 December will mark India’s fourth-biggest itemizing this 12 months, following these of Tata Capital ( ₹15,000 crore), HDB Monetary Providers Ltd. ( ₹12,500 crore) and LG Electronics India Ltd. ( ₹11,600 crore).
To make sure, the ICICI Prudential AMC IPO is a pure offer-for-sale, which means all proceeds will go to the promoting shareholder Prudential Corp. Holdings Ltd.
The deal, the final large IPO of 2025, will gauge the depth of investor urge for food, particularly after current points like LG India and Meesho Ltd. noticed sturdy demand. The cash supervisor is tapping the market at a time when IPO fundraising has hit a document this 12 months, because of surging curiosity from native buyers.
ICICI Prudential AMC IPO Overview
A number of brokerages have issued bullish views on the providing.
- Mirae Asset Sharekhan has known as for a “subscribe” to the difficulty, citing the corporate’s monetary metrics and what it considers are cheap valuations.
- SBI Securities highlighted the synergies it features from dad or mum ICICI Financial institution Ltd.’s distribution community, whereas Axis Capital mentioned it’s India’s most-profitable asset supervisor by one metric, with a 20% market share.
ICICI Financial institution, India’s second-biggest lender by market worth, presently holds 51% of the AMC, whereas UK’s Prudential Plc has the remaining stake. Prudential mentioned Thursday it accomplished a pre-IPO personal placement, promoting a mixed 4.5% stake within the fund supervisor to boost about ₹4,800 crore.
Citigroup Inc. and ICICI Securities Ltd. are amongst 18 banks managing the difficulty—a document for Indian IPOs.
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