India’s ICICI Prudential AMC sees shares jump 20% on market debut after stellar IPO
ICICI Prudential Asset Management Co. in Delhi, India, on Thursday, December 18, 2025. The sign at the branch. ICICI Prudential AMC’s 106 billion rupees ($1.2 billion) initial public offering received bids for more than 1.37 billion shares compared to 35.02 million offered at the close of the sale on the last day of the sale on Tuesday, stock exchange data showed. Photographer: Anindito Mukherjee/Bloomberg via Getty Images
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Shares of ICICI Prudential, one of India’s largest asset management companies, rose 20% in early trading on Friday following a 106 billion rupees ($1.17 billion) initial public offering.
The firm’s IPO, jointly owned by India’s ICICI Bank and Britain’s Prudential, was priced at Rs 2,165 per share at the upper end of the price range.
The problem was: I subscribed More than 39 times during the bidding process, this offer was made primarily due to strong demand from institutional investors. The retail portion of the IPO was subscribed only 2.5 times.
Singapore’s GIC and Temasek and India’s public sector insurer Life Insurance Corporation were among the major institutional investors participating in the IPO.
Citigroup Global Markets India, BoFa Securities India, Morgan Stanley, Axis Capital, Avendus Capital and ICICI Securities were among the joint bookrunners.
ICICI Prudential AMC is India’s largest asset management company in India in terms of assets managed under active mutual fund schemes, with a quarterly average of mutual fund assets of Rs 101.47 billion.
The company had 15.5 million individual investors as of the end of September.
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