India's ICICI Prudential AMC sees shares jump 19% in market debut after stellar IPO
The IPO by the firm jointly owned by India's ICICI Bank and UK's Prudential, was priced at 2,165 rupees per share at the upper end of the price band.
TL;DR
- ICICI Prudential AMC shares opened up 20% on their trading debut.
- The IPO was subscribed over 39 times, largely driven by institutional demand.
- Major institutional investors included Singapore's GIC and Temasek, and India's Life Insurance Corporation.
- ICICI Prudential AMC is India's largest asset management company by assets managed under active mutual fund schemes.
- The Indian mutual fund industry is expected to grow significantly, with retail investor-driven assets projected to reach $3.3 trillion by 2035.
- Investment via systematic investment plans has tripled between fiscal year 2021 and 2025.
- India has seen substantial funds raised through IPOs in the first three quarters of the year, with more expected in the final quarter.
- ICICI Prudential AMC's revenue rose over 32% and net income climbed nearly 30% in fiscal year 2025.