Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
ICICI Prudential Asset Management's initial public offering has drawn bids totaling INR 3 trillion (USD 33 billion), making it the fourth most subscribed IPO in India’s history. The USD 1.2 billion share sale follows major IPOs such as Reliance Power, LG Electronics India, and Bajaj Housing Finance. The strong interest reflects confidence in ICICI Prudential AMC’s market position and the growth potential of India’s mutual fund industry. This IPO also contributed to a record fundraising momentum in the country, alongside other financial firms like Groww, HDB Financial Services, and Tata Capital entering the market.
ICICI Prudential Asset Management, India’s second-largest asset manager, has completed an initial public offering that attracted bids worth INR 3 trillion (USD 33 billion). The USD 1.2 billion share sale ranks as the fourth most subscribed IPO in India, following the highly oversubscribed offerings of Reliance Power in 2007, LG Electronics India earlier this year, and Bajaj Housing Finance in 2024. Advertisement
The strong response highlights investors’ trust in ICICI Prudential AMC’s track record and the promising outlook for the mutual fund industry in India. Analysts have noted that the company’s established market position, combined with a growing appetite for financial assets in the country, has made the IPO an attractive investment opportunity.
The IPO also comes at a time when India is on course for a record year in capital raising. Several financial companies, including Groww, HDB Financial Services, and Tata Capital, have recently entered the market, signaling renewed investor confidence in the sector.
Kranthi Bathini, director of equity strategy at WealthMills Securities, observed that ICICI Prudential AMC’s strong market reputation and the expected growth in India’s mutual fund industry made the IPO particularly appealing to investors.
Source Reuters
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
