ICICI Bank announces proposal to buy 2% additional stake in ICICI Prudential AMC ahead of IPO - GAGA INDIA

India’s ICICI Prudential Asset Management files for $1.2bn IPO

Indian mutual fund manager ICICI Prudential Asset Management has submitted draft documents for an initial public offering (IPO), targeting a valuation of $12bn, reported Reuters citing sources. The IPO aims to raise $1.2bn and reflects the growing momentum in India’s capital markets. The company, a joint venture (JV) between ICICI Bank, which holds a 51% stake, and British insurer Prudential, which owns the remaining 49%, will see Prudential Cor…

ICICI Bank announces proposal to buy 2% additional stake in ICICI Prudential AMC ahead of IPO - GAGA INDIA

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