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ICICI Prudential Asset Management Company's 10,602 crore IPO was subscribed 39.1 times on its final day, driven by strong demand from qualified institutional investors. The issue, which saw anchor investors contribute 3,021.8 crore, valued the AMC at 1.07 lakh crore, positioning it close to industry leader HDFC AMC.
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Mutual fund managers adopted a cautious stance in November as benchmark indices reached all-time highs while the broader market lagged. Top sector picks included private banks and NBFCs, with fund houses adding stocks like HDFC Bank, ICICI Bank, and Shriram Finance. IT blue chips such as Infosys and TCS also attracted buying interest.
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Seven companies, including Fusion Cx and Orient Cables India, have received Sebi's approval for their IPOs. Fusion Cx plans a Rs 1,000 crore issue, while Orient Cables India aims for Rs 700 crore. Other companies like RSB Retail India and Lohia Corp also received nod for their offerings.
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News and Media
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