ICICI Prudential Asset Management Company witnessed an overwhelming response to its initial public offering, attracting bids worth nearly ₹3 lakh crore against an issue size of ₹10,600 crore. The public issue closed on December 16 with an overall subscription of 39.17 times, placing it as the fourth most-subscribed IPO in the country.
Subscription Details and Investor Response
The IPO recorded total bids of around ₹3 lakh crore, ranking behind Reliance Power’s 2007 issue, LG Electronics India’s 2025 offering, and Bajaj Housing Finance’s 2024 IPO in terms of subscription volume. Institutional investors accounted for a significant portion of the demand, with their allocated segment subscribed approximately 124 times by the end of the bidding period. Non-institutional and retail investor categories also saw substantial participation.
Business Overview and Industry Standing
ICICI Prudential Asset Management is one of India’s leading asset management firms, managing assets exceeding ₹10 lakh crore as of the end of September. The company holds a market share of about 13.2% and offers a diversified range of mutual fund schemes across equity, debt and hybrid segments.
The company operates through an extensive distribution framework, combining physical presence with digital platforms to reach investors across multiple geographies. The IPO consisted entirely of an offer for sale by Prudential, with no new shares being issued.
Pre-IPO Stake Placement
Prior to the public offering, Prudential sold a 4.5% equity stake in the asset management company for approximately $545 million. The transaction involved participation from well-known global institutions such as the Abu Dhabi Investment Authority, along with Indian family offices linked to Azim Premji and Rakesh Jhunjhunwala.
This stake placement was completed ahead of the IPO and contributed to diversifying the shareholder base with institutional and long-term investors.
Summary
ICICI Prudential AMC’s ₹10,600-crore IPO garnered bids worth around ₹3 lakh crore and closed with a subscription of 39.17 times, making it the fourth most-subscribed public issue in India. The offering drew strong institutional participation and followed a pre-IPO stake sale to global and domestic marquee investors.
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