ICICI Pru AMC begins roadshows for ₹10K-cr IPO

ICICI PRUDENTIAL ASSET Management, India’s second-largest asset manager, has begun investor roadshows ahead of its planned initial public offering, sources said.

- RAJESH MASCARENHAS & BAIJU KALESH

Backed by the UK’s Prudential Plc and India’s ICICI Bank Ltd, the firm is targeting a late October launch for the first-time share sale, they said.

The IPO involves the sale of 17.65 million shares, or a 10% stake held by Prudential, and could raise as much as ₹10,000 crore, sources said. That would value the money manager at about $11 billion.