Cyril Amarchand Mangaldas Advised ICICI Prudential Asset Management Company Limited On IPO Aggregating Over ₹10,600 Crore
Cyril Amarchand Mangaldas advised ICICI Prudential Asset Management Company Limited on IPO aggregating over ₹10,600 crore
The leading law firm in India, Cyril Amarchand Mangaldas acted as Indian legal counsel to ICICI Prudential Asset Management Company Limited (the “Company”) on its initial public offering (IPO) of equity shares of face value of ₹1 each, aggregating to ₹106,026.5 million.
The Offer comprised an offer for sale by Prudential Corporation Holdings Limited, a promoter of the Company and a subsidiary of Prudential Plc. Cyril Amarchand Mangaldas also advised ICICI Bank Limited in its capacity as one of the Company’s promoters.
The Offer was priced at ₹2,165 per equity share and included reservations for eligible shareholders of ICICI Bank Limited. The Equity Shares commenced trading on BSE and NSE on December 19, 2025.
ICICI Prudential Asset Management Company Limited, one of India’s oldest asset management companies, is the largest asset management company in India in terms of active mutual fund quarterly average assets under management (as of September 30, 2025). This IPO represents the largest by an asset management company in India and was oversubscribed more than 39 times, making it the fourth most subscribed IPO in India to date. The Offer was supported by a syndicate of 18 book running lead managers, the largest syndicate in Indian equity capital markets history.
The IPO transaction CAM team was led by Yash J. Ashar (Senior Partner), Manan Lahoty (Partner – Head, Capital Markets), and Priyadarshini Rao (Partner); with support from Jhalak Shah (Principal Associate), Adwait Deshmukh (Associate), Arikta Shetty (Associate), Devansh Raheja (Associate), Divyanshu Singh (Associate), Gaurav Lalwani (Associate), and Syamantak Sinha (Associate).
The transaction CAM team was further assisted by Ishita Khandelwal (Partner), Pranjita Barman (Partner), Anirud Sudarsan (Principal Associate), Raajash Kulmi (Associate), and Rohit Raj (Associate) on general corporate matters; Bharath Reddy (Partner), Mayank Jain (Associate), and Abhishek Gabriel (Associate) on ESOP-related matters; and Rutu Gandhi (Partner) and Pratiksha Arekar (Senior Associate) on certain securities compliance matters.
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