Mumbai: The upcoming IPO of ICICI Prudential Asset Management Company (ICICI Prudential AMC), a subsidiary of ICICI Bank and one of India’s largest asset managers, is drawing massive interest from marquee investors. Even before the issue opens, several high-profile names — including the Jhunjhunwala family, Madhu Kela, Manish Chokhani and Prashant Jain — have already bought into the company.
The IPO, valued at ₹10,602 crore, opens on December 12 and will close on December 16.
Prudential Offloads 4.5% Stake Worth ₹4,900 Crore
Ahead of the IPO, UK-based Prudential Corporation has sold its 4.5% stake in the company for approximately ₹4,900 crore. ICICI Bank, the co-promoter, along with several other domestic and global investors, has collectively invested ₹2,675 crore at the upper price level of ₹2,165 per share.
Who Has Bought Shares? Big Names Line Up
The pre-IPO placement has attracted some of India’s and the world’s most respected investors:
- Jhunjhunwala family
- Madhu Kela
- Manish Chokhani
- Prashant Jain
- Lunate – major sovereign fund of Abu Dhabi
- SBI Life, HDFC Life, Kotak Life
- Premji Invest
- University of California
- Funds managed by 360 One
- Estate of late Rakesh Jhunjhunwala
- DSP, HCL Capital
Among foreign institutional investors (FIIs), White Oak, JenCor, ChrysCapital Malabar, and Think Investments are part of the list.
Such high-profile participation signals strong confidence in the company’s growth potential, strengthening the belief that this IPO could be a significant opportunity for retail investors.
A Big Opportunity for Investors
The ₹10,602 crore public issue is entirely an offer-for-sale (OFS), under which 4.89 crore shares — representing 9.9% of pre-offer paid-up equity — will be sold.
The IPO’s price band has been fixed at ₹2,061 to ₹2,165 per share.
Given the strong backing from seasoned investors, the issue is being regarded as one of the most attractive large-cap IPOs of the year.
Grey Market Premium (GMP) Signals Strong Sentiment
The IPO is trading with a healthy premium in the grey market. On Thursday morning, the GMP stood at ₹126 per share.
If calculated against the upper price band of ₹2,165, this reflects a 5.82% premium, suggesting solid market appetite ahead of listing.
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