Jhunjhunwala’s firm, Madhu Kela, is one of the pre-IPO investors of I-Pru AMC

A slew of foreign and domestic institutions and family offices were among the 26 investors who participated in ICICI Prudential Asset Management’s pre-IPO share sale worth around Rs4,900 crore.Several major investors such as Abu Dhabi’s Lunate, Premji Invest, University of California, the estate of late Rakesh Jhunjhunwala, HCL Capital, 3P India managed by Prashant Jain, Manish Chokhani and Madhu Kela participated in the issue.

Global funds on the pre-IPO list include White Oak, Janchor, ChrysCapital, Malabar and Think Investments.Of the Rs4,900 crore invested, ICICI Bank alone invested Rs2,225 crore, while the other investors together invested Rs2,675 crore.

Top insurers such as SBI Life, HDFC Life, Kotak Life, Birla Life, Bajaj Life, Tata AIG and Go Digit General Insurance also participated in the pre-IPO share sale.

ICICI Prudential AMC’s Rs10,600 crore IPO will open for subscription on December 12 and close on December 16.

The issue is entirely an offer for sale (OFS). The company will therefore not receive any proceeds from the IPO. Prudential Corporation Holdings, the selling shareholder, will transfer up to 4.89 crore equity shares in the issue.

The sale of the shares amounts to an offer of up to 9.91% of the equity of ICICI Prudential AMC. The price band for the issue has been fixed at Rs 2,061–2,165 per share.

ICICI Bank currently owns 51% stake in ICICI Prudential AMC, while the remaining 49% is held by Prudential Corporation Holdings. In addition, ICICI Bank has informed the stock exchanges that it will buy an additional stake of up to 2% in ICICI AMC from Prudential Corporation Holdings.