ICICI Prudential Asset Management Company (ICICI Prudential AMC), a subsidiary of ICICI Bank, is launching its IPO tomorrow.
This IPO is one of the biggest in recent times, valued at around ₹10,602 crore.
Even before the IPO opened, 26 major investors showed strong interest and bought stakes in the company.
Big Share Sale Before the IPO
A day before the IPO, UK-based Prudential Corporation sold its 4.5 percent stake for about ₹4,900 crore.
Along with ICICI Bank, several domestic and foreign investors also put in around ₹2,675 crore.
All these investments were made at the upper price band of ₹2,165 per share, showing strong confidence in the company.
Who Are the Investors?
Some of the well-known names who bought shares include the billionaire Jhunjhunwala family, Madhu Kela, Manish Chokhani, and Prashant Jain.
Big institutions have also invested, such as Abu Dhabi’s sovereign fund Lunate, SBI Life, HDFC Life, Kotak Life, Premji Invest, University of California, and funds managed by 360 One.
Other major investors include DSP, HCL Capital, and the estate of late Rakesh Jhunjhunwala.
Among foreign investors, WhiteOak, Janchor, ChrysCapital, Malabar, and Think Investments are also on the list.
Why This IPO Is a Big Opportunity
The IPO opens on December 12 and closes on December 16.
The price band is set between ₹2,061 and ₹2,165 per share.
This is a complete offer-for-sale, where 4.89 crore shares — which is 9.9 percent of the company’s pre-offer equity — will be available to investors.
Market experts believe this IPO could be a strong opportunity due to the company’s reputation and the level of interest shown by top investors.
Strong Demand in the Grey Market
The ICICI Prudential AMC IPO is already performing well in the grey market.
On Thursday morning, its Grey Market Premium (GMP) stood at ₹126.
If calculated based on the upper price band of ₹2,165, the GMP indicates an expected gain of about 5.82 percent — showing strong demand before the official launch.
