IPO
ICICI Prudential AMC’s Rs.10,600-Cr IPO gets 39 times subscription
Mumbai-based ICICI Prudential AMC 's INR 10,600 crore Initial Public Offering (IPO) drew bids totalling nearly INR 3 lakh crore from 55 lakh applications, making it the fourth-largest subscription amount in Indian IPO history. The IPO was subscribed 39.17 times overall, with demand primarily driven by institutional investors. The IPO was structured entirely as an offer for sale.The qualified institutional buyers (QIB) portion, excluding anchors, was subscribed 123.87 times, translating into bids of approximately INR 2.49 lakh crore. The non-institutional investors (NII) category was subscribed about 22 times, attracting bids worth roughly INR 33,295 crore, while retail participation was subscribed approximately 2.5 times.The IPO attracted 74 anchor investors and 26 pre-IPO investors, with global institutional participation from firms such as Capital Group, Fidelity, Norges Bank Investment Management, FMR, the University of California endowment, JP Morgan, BlackRock, Aberdeen, Wellington, Goldman Sachs, and WhiteOak. Sovereign wealth funds Temasek, GIC, Abu Dhabi Investment Authority, and Lunate, along with 19 of the top 20 mutual fund houses in India, 15 insurance companies, and three pension funds, also participated.Market investors like the estate of Rakesh Jhunjhunwala, Prashant Jain-led 3P Investment Managers, Manish Chokhani, and Madhu Kela, as well as family offices including Premji, HCL, the Hero family, and the Times Group, also featured among investors.ICICI Prudential AMC is promoted by ICICI Bank and UK-based Prudential plc. The company's financial performance in FY25 saw revenue increase by 32% year-on-year, and profit after tax rise by 29%.
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