The initial public offering of ICICI Prudential Asset Management has received ₹4,815 crore investment through a pre-IPO placement from 26 marquee investors including Prashant Jain, the Jhunjhunwala family, Manish Chokani and Madhusudan Kela.
The largest asset management company, in consultation with the book running lead managers to the IPO, has undertaken a private placement of 2.22 crore equity shares for cash consideration, at an issue price of ₹2,165 per equity share.
The offer saw participation from leading names such as Lunate Capital (Abu Dhabi-based sovereign fund), the estate of late Rakesh Jhunjhunwala, The Regents of the University of California – IIFL Asset Management, Sarv Investments, 3P India Equity Fund (managed by Prashant Jain), PI Opportunities Fund – II, 360One Funds, DSP India Fund, Whiteoak Capital India Opportunities Fund, HCL Capital, Manish Chokani and Madhusudan Kela, to name a few.
Insurance companies such as SBI Life Insurance, HDFC Life Insurance, Kotak Life Insurance, Aditya Birla Sun Life Insurance, Bajaj Life Insurance, TATA AIG General Insurance, and Go Digit General Insurance, too, participated in the pre-placement.
Kedaara Capital Public Markets Fund, TIMF Holdings, Malabar India Fund and Clarus Capital I are some of the other investors.
ICICI Bank has also invested ₹2,140 crore for an additional 2 per cent stake in the company.
The IPO is an offer-for-sale of up to 48,972,994 shares by the promoter Prudential Corporation Holdings.
As of September-end, its total mutual fund QAAUM was ₹10.15 lakh crore.
Published on December 11, 2025
