RPOWER.NSE

Reliance Power Ltd

… crore ($33 billion) for its IPO , making it the fourth most … subscribed IPO in India. The $1.2 … saw the highest bids after IPOs by Reliance Power in 2007 … , and British insurer Prudential. The IPO was an offer for sale …

ICICI Prudential Asset Management received bids worth 3 trillion rupees ($33 billion) for its IPO, making it the fourth most subscribed IPO in India. The $1.2 billion share sale that closed on Tuesday saw the highest bids after IPOs by Reliance Power in 2007, LG Electronics India this year, and Bajaj Housing Finance in 2024. The share sale by the country’s second-largest asset manager sets the stage for India to notch a record year of fundraising. Companies that have hit the market this year include financial firms such as Groww, HDB Financial Services and Tata Capital. “The strong pedigree that ICICI Prudential AMC enjoys and the robust outlook for mutual fund industry in India makes this an attractive bet for investors,” said Kranthi Bathini, director - equity strategy at WealthMills Securities. The firm is a joint venture between ICICI Bank, India’s second-largest private lender, and British insurer Prudential. The IPO was an offer for sale by Prudential. The firm managed more than 10 trillion rupees ($110 billion) of assets, with a 13.2% share of the market, as of September-end.

… trillion ($33 billion) for its IPO , making it the fourth most … subscribed IPO in India. The $1.2 … saw the highest bids after IPOs by Reliance Power in 2007 … , and British insurer Prudential. The IPO was an offer for sale …

Together, these next-generation growth engines place the Group at the forefront of India's clean-energy revolution. The Group is also rapidly expanding Reliance NU Energies, the integrated renewable energy business of Reliance Power, establishing a powerful multi-pronged platform for future growth, Reliance Group said in a statement.