CAM, S&R, SAM, Sidley Austin act on ICICI Prudential AMC ₹10,602 crore IPO

ICICI Prudential Asset Management Company Limited has made an initial public offering of equity shares, comprising an offer for sale by Prudential Corporation Holdings Limited aggregating to ₹10,602 crore.

Cyril Amarchand Mangaldas advised ICICI Prudential AMC on this IPO.

The IPO transaction team was led by Yash J. Ashar (Senior Partner), Manan Lahoty (Partner, Head - Capital Markets), Priyadarshini Rao (Partner) with support from Jhalak Shah (Principal Associate), Associates Adwait Deshmukh, Arikta Shetty, Devansh Raheja, Divyanshu Singh, Gaurav Lalwani and Syamantak Sinha.

They were supported by:

General Corporate Team: Ishita Khandelwal (Partner), Pranjita Barman (Partner), Anirud Sudarsan (Principal Associate), Associates Raajash Kulmi and Rohit Raj.

ESOP Team: Bharath Reddy (Partner), Associates Mayank Jain and Abhishek Gabriel.

Security Compliance Team: Rutu Gandhi (Partner) and Pratiksha Arekar (Senior Associate).

S&R Associates advised the promoter selling shareholder Prudential Corporation Holdings Limited on this IPO.

Shardul Amarchand Mangaldas & Co advised the book running lead managers, comprising Citigroup Global Markets India, ICICI Securities, Morgan Stanley India Company, Goldman Sachs (India) Securities, BofA Securities India, Avendus Capital, Axis Capital, BNP Paribas, CLSA India, HDFC Bank, IIFL Capital Services, JM Financial, Kotak Mahindra Capital Company, Motilal Oswal Investment Advisors, Nomura Financial Advisory and Securities (India), Nuvama Wealth Management, SBI Capital Markets and UBS Securities India, on this IPO. This was the the largest syndicate for an Indian IPO.

The transaction team was led by Nikhil Naredi (Partner) and Abhiroop Amitava Datta (Partner), with support from with Harsh Loonker (Principal Associate), Debolina Mitra (Senior Associate), Associates Niharika Payannavar and Najeeb Din.

Sridutt Mishra (Senior Associate) and Arjun Bhatia (Associate) provided assistance.

Sidley Austin acted as the international legal counsel to the BRLMs.

ICICI Prudential AMC, one of the oldest asset management companies in India, is the largest asset management company in India in terms of active mutual fund quarterly average assets under management (as of September 30, 2025).

This is the largest IPO by an asset management company in India.

Further, the IPO was oversubscribed by more than 39 times, which makes it the fourth most subscribed IPO in India as on date.

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