ICICI Prudential AMC IPO: ICICI Prudential Asset Management Company (AMC) has filed its draft papers with the marker regulator – Securities and Exchange Board of India (SEBI) – to float an initial public offering (IPO).
ICICI Prudential AMC IPO will be an offer for the sale of up to 17.7 million shares by the promoter, British insurer Prudential Plc. According to Bloomberg News, the offering could raise as much as ₹10,000 crore ($1.2 billion) and value the asset manager at around $12 billion.
ICICI Prudential Asset Management Company, India’s second-largest mutual fund manager by assets, is a joint venture between ICICI Bank (holding a 51% stake) and the UK-based Prudential Plc (holding a 49% stake).
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