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Kolkata: The buzz around the Rs 10,602.65-crore ICICI Pru IPO, which throws open its bidding window today, Dec 12, is growing, proving that the IPO rush in 2025 will continue till the very last days of the current year. On Thursday, ICICI Prudential Asset Management Company said that has mobilized as much as Rs 3,022 crore from anchor investors, the list of which featured names such as the government of Singapore, Abu Dhabi Investment Authority, Fidelity, Norges Bank, BlackRock, Aberdeen, Wellington, Capital World, JP Morgan Investment Management Inc., Goldman Sachs, Aranda Investments Pte, LIC, SBI MF, Nippon India MF, Axis MF, HDFC MF and Aditya Birla Sun Life MF. A total of 1.39 crore shares were allotted to as many as 149 funds at Rs 2,165 apiece.
The stupendous anchor round followed a pre-IPO funding round, where 26 domestic and foreign investors infused Rs 4,815 crore into ICICI Prudential AMC. This round also witnessed demand of ICICI Pru shares from marquee investors in the domestic market such as Manish Chokani, Madhusudan Kela and the estate of late Rakesh Jhunjhunwala. Besides all of these prominent names, ICICI Bank (of which ICICI Pru AMC is an arm) itself invested Rs 2,140 crore to pick up additional 2% stake in the AMC. This investor appetite for ICICI Pru shares proves there is no dearth of investors even at the fag end of a record setting year of IPOs.
On Dec 12 early morning ICICI Prudential AMC IPO GMP stood at Rs 150, which is the the same level as on Dec 11. At this level, it signalled a listing gain of 6.93% and a listing price of Rs 2315.
According to investorgain, the GMP has risen since Dec 8 when the price band was announced. The GMP was Rs 85 on Dec 8, Rs 124 on Dec 9, Rs 119 on Dec 10 and Rs 150 on Dec 11. However, it must be remembered that GMP, or Grey Market Premium, is an unofficial indicator, extremely volatile and cannot guarantee any listing gain (or loss).
The price band of ICICI Pru IPO has been set at Rs 2061-2165. A retail investor has to apply for a minimum of 6 shares, for which he/she has to pay an application amount of Rs 12,990 based on the upper price band. For sNII category of investors, the minimum lot size is 96 shares foe which Rs 2,07,840 will be needed. The category of bNII investors will need to apply for a minimum of 462 shares for which he/she will need Rs 10,00,230. Citigroup Global Markets India is the book running lead manager while Kfin Technologies is the registrar of the issue.
IPO bid opens: Dec 12
IPO bid closes: Dec 16
Cut-off time for UPI mandate confirmation: 5 pm on Dec 16
Allotment: Dec 17
Refund: Dec 18
Credit of shares to demat: Dec 18
Listing: Dec 19
ICICI Pru is the second largest AMC after SBI AMC. But considered on QAAUM (quarterly average AUM) ICICI Pru pushes ahead of SBI AMC to the top slot. At the end of FY25, its QAAUM was about Rs 8.8 lakh crore and its market share was about 13.3%. It has the biggest number of MF schemes.
ICICI Pru's operating profit before tax has swelled at a CAGR of about 32% over the past three years and stood at Rs 3,236 crore in FY25, the highest among listed competitors. ICICI Pru is estimated to contribute approximately 20% of the industry's total operating profit.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, precious metals, commodity, any form of alternative investment instruments and crypto assets.)
