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Shares of ICICI Prudential Asset Management Company (AMC) are listed at Rs 2,600, up 20% today (Friday, December 19). After positive listing, the market value of the company has increased to Rs 1.3 lakh crore.
The IPO of ICICI Prudential AMC was opened for 12-14 December. The price band of the IPO was Rs 2,061 to Rs 2,165. This entire issue was an offer for sale. That means the company did not issue any new shares.
Raised Rs 4,815 crore in pre-IPO round
The company, which alone has 13.3% share in the asset management market, had raised Rs 4,815 crore in the first round (pre-IPO). In this pre-round, the company issued 2,22,40,841 equity shares through private placement at Rs 2,165 per share.
26 marquee investors including Prashant Jain, Jhunjhunwala Family, Manish Chokani, Madhusudan Kela participated in the pre-IPO round of ICICI Prudential Asset Management Company. Marquee investors put in around Rs 4,815 crore in the pre-IPO round.
Chintan Haria, Principal Investment Strategy, ICICI Prudential Asset Management Company.
Big names like Lunet Capital Rakesh Jhunjhunwala’s Estate, The Regents of the University of California-IIFL Asset Management, Serv Investments, 3P India Equity Fund, PI Opportunities Fund-II, 360One Funds, DSP India Fund, Whiteoak Capital India Opportunities Fund, HCL Capital, Manish Chokani and Madhusudan Kela participated in it.
ICICI Bank bought 2% stake
Insurance companies also participated in the pre-IPO round. These include SBI Life, HDFC Life, Kotak Life Insurance, Aditya Birla Sun Life Insurance, Bajaj Life Insurance, Tata AIG General Insurance and Go Digit General Insurance.
Additionally, Kedar Capital Public Markets Fund, TIMF Holdings, Malabar India Fund and Clarus Capital joined. At the same time, ICICI Bank bought an additional 2% stake in the company by investing Rs 2,140 crore.
The company was started in 1993
ICICI Prudential Asset Management Company was started in 1993. The company offers a total of 143 investment schemes. It has Assets Under Management (AUM) worth Rs 10.87 lakh crore.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.
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ICICI-Prudential AMC IPO listing to be held on December 19: Subscribed 39.17 times in 3 days; Interview of company’s investment strategy head Chintan
The IPO listing of ICICI Prudential Asset Management Company (AMC) will take place on December 19. The company’s IPO has received a total of 39.17 times subscription in three days. In an interview given to Dainik Bhaskar before the listing of IPO, Chintan Haria, Principal Investment Strategy of ICICI Prudential Asset Management Company, shared many things related to the company and IPO. Read the full interview…
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