After a gap of almost seven and a half years, the ICICI Group is once again going public to raise money for one of its companies. ICICI Prudential Asset Management Company (AMC) IPO hit the streets on December 14. This is the fifth company of the ICICI house that will go public. Here’s a list of all the key issues from the ICICI Group.
ICICI Bank
In late 2005, ICICI Bank raised Rs 5,000 crore from investors. In addition, under the Green Shoe Option, the bank had the option to allocate additional equity shares up to Rs 750 crore. Adding the green shoe option took the total size to Rs 5,750 crore. The lender set the issue price at Rs 525 per equity share for the domestic market. Also, retail investors received a 5% discount at Rs 498.75 per share. The issue was oversubscribed by around seven times. Apart from the Indian market, the company raised money in America and Japan as well.
ICICI Prudential Life Insurance IPO
ICICI Prudential Life Insurance IPO raised Rs 6,056.79 crores from the public in September 2016. The issue was entirely an offer for sale of 18.13 crore shares. The company set the cut-off price for the issue at Rs 334 per equity share. BOFA Securities India handled the books of the IPO. ICICI Prudential Life was incorporated in 2001 as a joint venture between ICICI Bank and Prudential Corporation Holdings. The life insurance firm is based in Mumbai, and it is the largest private sector life insurer in India.
ICICI Lombard General Insurance IPO
A year later, the Group went ahead with its other insurance arm’s public issue, ICICI Lombard General Insurance. The IPO opened to investors in mid-September 2017. The company raised Rs 5,700.94 crores from the public, and this was also entirely an offer for sale. The company offered 8.62 crore equity shares. The issue price was set at Rs 661 per equity share. CLSA India handled the IPO. The issue was oversubscribed a total of 3 times than the offered shares, driven by QIBs.
ICICI Securities IPO
ICICI Securities was the third back-to-back IPO that the ICICI Group brought out after the success of the other two. The company tapped the market in March 2018 to raise Rs 3,480.12 crores via an offer for sale of 6.69 crore shares. The issue price for the same was set at Rs 520 per equity share. BOFA Securities India managed the books of the issue. However, the issue remained undersubscribed, booked a 0.78 times.
Later, ICICI Securities was merged with its parent firm, ICICI Bank. The company ceased to trade in the secondary markets, becoming a wholly-owned subsidiary of ICICI Bank. The merger became effective in March 2025 after securing final approvals and the Supreme Court upholding the delisting.
ICICI Prudential AMC IPO
The company has floated an IPO to secure Rs 10,602 crore. The issue opened for subscription on December 12 and will take its last bidding on December 16. Likewise, this IPO is also entirely an offer for sale of 4.90 crore shares. The company has set the price band between Rs 2,061 and Rs 2,165. Citigroup Global Markets India is the book-running lead manager of the IPO. The issue got fully subscribed on Day 02 of its bidding, receiving 1.38 times more bids than offered.