ICICI Prudential Asset Management’s $1.2 billion initial public offering was lapped up on the second day of bidding on Monday as institutional investors lined up for a piece of India’s second-largest fund manager.
The IPO – India’s fourth-largest this year – sets the stage for a second straight year of record primary market fundraising in Asia’s third-largest economy.
As of 10:45 a.m. IST, the IPO received bids for 35.02 million shares, against 34.98 on offer, exchange data showed.
Reuters
