ICICI Prudential AMC plans Rs 10,000-crore public issue

The second largest asset management company in terms of managed assets, ICICI Prudential Asset Management Company, is planning a mega Rs 10,000-crore initial share sale that will purely be an offer by the foreign promoter.

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The company has roped in as many as 15 investment banks, including Citi, Goldman Sachs, Morgan Stanley and BofA Securities, a record in the IPO space. According to two sources, ICICI Securities and Citi were hired earlier this year for the deal and the 26-year-old company, in which the British financial powerhouse Prudential Plc owns 49%, recently mandated Goldman Sachs, Morgan Stanley, Kotak Mahindra Capital, BofA Securities, IIFL Capital, Nomura Securities, JM Financial, Motilal Oswal, Avendus Capital, Nuvama, BNP Paribas, CLSA Securities and SBI Capital.