Qualified institutional investors drove the subscriptions, with the category receiving bids worth 123.8 times the shares set aside for them. The non-institutional investors, or high net worth investors’, category was subscribed 22.04 times, while the retail investor category of the issue was subscribed 2.53 times.
The IPO comprised an offer for sale of 4.89 crore shares by the asset manager’s joint venture partner, Prudential Corporation. The price band of the IPO was ₹2061-2,165. Ahead of the IPO, the AMC raised ₹3,021.8 crore from 149 anchor investors, including Government of Singapore Investment Corporation, Temasek and Lunate Capital (Abu Dhabi Investment Authority).
The IPO pricing values ICICI Prudential AMC at ₹1.07 lakh crore.
HDFC AMC is the top-listed asset management company with a market capitalisation of ₹1.1 lakh crore, followed by Nippon Life India AMC and Aditya Birla Sun Life AMC with a market value of ₹55,169.95 crore and ₹22,223.38 crore, respectively.
