ICICI Prudential Asset Management Company’s IPO has received very strong interest from some of the biggest names in the global and Indian investment world. The company attracted major foreign funds, top mutual fund houses, leading insurance companies, and well-known market experts, showing how popular the upcoming public issue has become. The IPO will debut at a valuation of ₹1.07 lakh crore.
On December 11, the company raised ₹3,022 crore from 149 anchor investors. Out of the total shares reserved for anchor investors, 46.62 lakh shares—about one-third—went to 27 domestic mutual fund houses. These included big names such as HDFC AMC, SBI Mutual Fund, Axis MF, Kotak AMC, DSP MF, WhiteOak Capital, Aditya Birla Sun Life AMC, HSBC MF, Invesco, Edelweiss, and PGIM.
Large global investors also joined the anchor round. These included Capital Group, Temasek, Fidelity, JP Morgan, BlackRock, Goldman Sachs, Amundi Funds, the Monetary Authority of Singapore, the Government Pension Fund Global, and the Abu Dhabi Investment Authority. Their participation shows strong global confidence in ICICI Prudential AMC.
Insurance companies also bought shares in the anchor book, collectively taking 16.9 lakh shares worth ₹366 crore. This group included LIC, SBI Life, HDFC Life, Tata AIA, Bajaj General Insurance, Canara HSBC Life, and Go Digit.
Before the anchor round, the company completed a major private placement of 2.22 crore shares at ₹2,165 each. This round saw interest from several well-known investment names. These included Lunate Capital, the estate of Rakesh Jhunjhunwala, The Regents of the University of California (through IIFL Asset Management), Sarv Investments, 3P India Equity Fund led by Prashant Jain, PI Opportunities Fund II, DSP India Fund, WhiteOak Capital India Opportunities Fund, and experts like Manish Chokani and Madhu Kela. Several insurance companies also joined this round.
ICICI Bank itself invested ₹2,140 crore to increase its stake by two percent.
To manage its giant ₹10,000-crore IPO, ICICI Prudential AMC appointed a record 18 merchant bankers—the highest number for any recent Indian IPO. However, only four of them will earn fees. The rest receive league table credit, which helps build their market reputation.
Experts say companies sometimes appoint many bankers to expand their reach across all types of investors and maintain strong long-term relationships.
