ICICI Prudential AMC IPO Draws ₹3 Lakh Crore in Bids, Becomes India’s Fourth Most-Subscribed Issue

ICICI Prudential Asset Management received bids worth ₹3 lakh crore for its ₹10,600-crore initial public offering (IPO) on December 16, making it the fourth most-subscribed public issue in India. The IPO was subscribed 39.17 times on the final day of bidding, driven by strong interest from institutional investors.

Ahead of the share sale, Prudential sold a 4.5% stake for about $545 million to marquee investors, including Abu Dhabi Investment Authority and family offices of Azim Premji and Rakesh Jhunjhunwala. The shares are scheduled to list on Friday.

Record Subscription and Investor Participation

The IPO saw bids worth ₹3 lakh crore, placing it behind Reliance Power (2007), LG Electronics India (2025), and Bajaj Housing Finance (2024) in terms of subscription levels. Institutional investors led the demand, with their reserved portion subscribed about 124 times.

The strong response underscores the appetite for asset management businesses amid rising mutual fund penetration. Non-institutional and retail categories also recorded significant oversubscription.

Company Profile and Market Position

ICICI Prudential Asset Management is among India’s largest asset managers, handling over ₹10 lakh crore in assets as of September-end. The firm commands a 13.2% market share and offers a wide range of mutual fund products across equity, debt, and hybrid categories.

Its distribution network spans physical and digital channels, enabling access to investors across urban and semi-urban regions. The IPO was structured as an offer for sale by Prudential, with no fresh issue of shares.

Pre-IPO Stake Sale and Strategic Investors

Ahead of the IPO, Prudential divested a 4.5% stake in the asset manager for approximately $545 million. Buyers included global institutional investors and prominent Indian family offices, signalling confidence in the company’s growth prospects.

The stake sale was aimed at broadening the shareholder base and attracting long-term strategic partners. These transactions were completed before the public issue opened for subscription.

Read More: ICICI Prudential AMC IPO Allotment Status.

Conclusion

ICICI Prudential AMC’s ₹10,600-crore IPO has emerged as one of India’s most sought-after offerings, drawing ₹3 lakh crore in bids and achieving 39.17 times subscription. Strong institutional demand, coupled with pre-IPO investments by marquee players, highlights the sector’s appeal.

With listing scheduled for Friday, market participants will closely watch the debut, especially after LG Electronics India’s 50% listing-day gain earlier this year. The outcome will provide insights into investor sentiment toward asset management businesses.

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