ICICI Prudential Mutual Fund Plans Rs 10,000 Crore IPO
Prudential to Sell 10% Stake in the Company
ICICI Prudential Mutual Fund is planning a big Initial Public Offering (IPO) this year. Prudential Corp of UK, a partner of ICICI Bank, will sell a 10% stake in the company. This IPO could be worth around Rs 10,000 crore.
Recent IPOs
- HDB Financial Services raised Rs 12,500 crore last month.
- Hexaware Tech raised nearly Rs 8,760 crore in February.
About ICICI Prudential Mutual Fund
ICICI Prudential Mutual Fund manages nearly Rs 9.5 lakh crore worth of investors’ assets. ICICI Bank holds a 51% stake in the fund house. Prudential Corp holds the remaining 49%. ICICI Bank plans to keep its 51% stake. It may buy an additional 2% stake before the IPO.
Other Listed Fund Houses
- HDFC MF manages Rs 8.3 lakh crore assets. Its market value is Rs 1.1 lakh crore.
- Nippon India MF manages Rs 6.1 lakh crore assets. Its market value is Rs 50,900 crore.
- UTI MF manages Rs 3.6 lakh crore assets. Its market value is Rs 17,185 crore.
Future IPOs
Canara Robeco MF has also filed for an IPO. It manages assets worth about Rs 1.1 lakh crore. Several other fund houses have shown interest in going public. However, they have not yet filed IPO papers with SEBI.
