ICICI Prudential's IPO becomes India's 4th most subscribed ever
ICICI Prudential AMC just pulled off one of the biggest IPOs in India, racking up ₹3 lakh crore (~$36 billion) in bids.
That makes it the fourth most subscribed IPO ever here, right behind giants like Reliance Power, LG Electronics India, and Bajaj Housing Finance.
The ₹10,600 crore ($1.3 billion) offering saw huge buzz from all corners—big investors oversubscribed their share by 124 times, while retail folks and ICICI Bank shareholders also jumped in enthusiastically, with their portions subscribed 2.5 times and 9.8 times, respectively.
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Alongside the IPO, Prudential sold a 4.5% stake for $545 million to major players like Abu Dhabi Investment Authority and the family offices of Azim Premji and Rakesh Jhunjhunwala.
Shares are set to hit the market this Friday, adding to a year that's already seen high-profile listings like Groww, HDB Financial Services, and Tata Capital—definitely a strong moment for India's mutual fund scene!