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4h ago

ICICI Prudential AMC IPO Sets Rs 2,061–2,165 Price Band, Opens Dec. 12

The sale transfers shares from Prudential to new investors, with ICICI Bank remaining the majority owner.

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The offer includes a reservation of up to 24.48 lakh equity shares specifically for eligible ICICI Bank shareholders as defined in the RHP.

Overview

  • Prudential Corporation Holdings will sell up to 4.8973 crore shares in a 100% offer for sale, with 24.486 lakh shares reserved for eligible ICICI Bank shareholders.
  • The subscription window runs Dec. 12–16, the anchor book opens Dec. 11, allotment is due Dec. 17, and listing is planned on BSE and NSE on Dec. 19.
  • The company will not receive fresh funds from the transaction, as all proceeds go to the selling shareholder.
  • At the indicated range, the deal could raise about Rs 10,000–10,300 crore and imply a valuation near $12 billion, according to Bloomberg reporting.
  • ICICI Bank holds 51% of the AMC versus 49% for Prudential, the fund house manages Rs 10.87 lakh crore in AUM across 143 schemes, and KFin is registrar with bookrunners including Citi, Morgan Stanley and BofA.