Overview
- The offer is a pure sale of up to 48,972,994 shares by Prudential Corporation Holdings with no fresh issue, with reported proceeds of roughly Rs 10,000–10,603 crore.
- Anchor bidding is set for December 11, public subscription runs December 12–16, allotment is slated for December 17 and listing is planned on the BSE and NSE on December 19.
- Prudential’s stake is expected to decline to about 39% after the sale, while ICICI Bank will continue to hold 51%.
- The band implies a valuation near Rs 1.07 lakh crore (about $12 billion), with a minimum bid size of 6 shares and a 24.49 lakh share reservation for eligible ICICI Bank shareholders.
- ICICI Prudential AMC manages quarterly average AUM of roughly Rs 10–10.9 lakh crore, and recent unofficial premiums ranged around Rs 130 on Monday versus Rs 180–200 over the weekend.