Signage at an ICICI Prudential Asset Administration Co. department in Delhi, India, on Thursday, Dec. 18, 2025. ICICI Prudential AMC’s preliminary public providing to boost as a lot as 106 billion rupees ($1.2 billion) obtained bids for greater than 1.37 billion shares, in contrast with 35.02 million supplied, at shut on final day of the sale Tuesday, in response to trade knowledge. Photographer: Anindito Mukherjee/Bloomberg by way of Getty Pictures
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Shares of ICICI Prudential, one in all India’s largest asset administration firms, rose 20% of their buying and selling debut Friday, following a 106 billion rupees ($1.17 billion) preliminary public providing.
The IPO by the agency collectively owned by India’s ICICI Financial institution and UK’s Prudential, was priced at 2,165 rupees per share on the higher finish of the value band.
The problem was subscribed greater than 39 instances through the bidding course of, pushed primarily by a powerful demand from institutional traders. Retail portion of the IPO was subscribed simply 2.5 instances.
Singapore’s GIC and Temasek and India’s public sector insurance coverage firm Life Insurance coverage Company had been among the many main institutional traders that participated within the IPO.
Citigroup International Markets India, BofA Securities India, Morgan Stanley, Axis Capital, Avendus Capital and ICICI Securities had been among the many joint bookrunners.
ICICI Prudential AMC is India’s largest asset administration firm in India when it comes to property managed beneath energetic mutual fund schemes with an mutual fund quarterly common property of 101.47 billion rupees. The corporate had 15.5 million retail traders as of finish of September.
Although this IPO noticed comparatively tepid particular person investor curiosity, international consultancy agency Bain & Firm estimates retail investor-driven property of Indian mutual fund trade to develop to about $3.3 trillio by 2035 from 45 trillion rupees in fiscal 12 months 2025.
This comes as salaried millennials in metro cities and Gen Zs more and more make investments financial savings in mutual funds, even avoiding direct equities, the report stated.
As extra retail traders take part in capital markets, the alternatives for asset managers to deal with these funds are ballooning.
Funding by way of systematic funding plans, which check with investing bite-sized sums at common intervals, tripled to 2.89 trillion rupees in fiscal 12 months 2025 from 2021, knowledge from Affiliation of Mutual Funds in India exhibits.
