Cyril Amarchand Mangaldas (CAM), Shardul Amarchand Mangaldas & Co. (SAM), Sidley Austin LLP and S&R Associates advised on the initial public offering (IPO) of ICICI Prudential Asset Management Company Limited (IPAMC), comprising an offer for sale aggregating to over ₹10,600 crore by its promoter, Prudential Corporation Holdings Limited.
The IPO is the largest public offering by an asset management company in India and was oversubscribed over 39 times, making it the fourth most subscribed IPO in Indian capital markets to date.
CAM acted as Indian legal counsel to IPAMC.
The IPO transaction team comprised Yash J. Ashar, Manan Lahoty and Priyadarshini Rao, with support from Jhalak Shah, Adwait Deshmukh, Arikta Shetty, Devansh Raheja, Divyanshu Singh, Gaurav Lalwani and Syamantak Sinha.
The General Corporate team included Ishita Khandelwal, Pranjita Barman, Anirud Sudarsan, Raajash Kulmi and Rohit Raj.
The ESOP team comprised Bharath Reddy, Mayank Jain and Abhishek Gabriel, while the Securities Compliance team included Rutu Gandhi and Pratiksha A.
SAM advised an 18-bank syndicate of book-running lead managers on the IPO.
This was the the largest syndicate for an Indian IPO, comprising Citigroup Global Markets India Private Limited, ICICI Securities Limited, Morgan Stanley India Company Private Limited, Goldman Sachs (India) Securities Private Limited, BofA Securities India Limited, Avendus Capital Private Limited, Axis Capital Limited, BNP Paribas, CLSA India Private Limited, HDFC Bank Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited), JM Financial Limited, Kotak Mahindra Capital Company Limited, Motilal Oswal Investment Advisors Limited, Nomura Financial Advisory and Securities (India) Private Limited, Nuvama Wealth Management Limited, SBI Capital Markets Limited and UBS Securities India Private Limited.
The transaction team was led by Partners Nikhil Naredi, Abhiroop Amitava Datta, along with Principal Associate Harsh Loonker, Senior Associate Debolina Mitra, Associates Niharika Payannavar, and Najeeb Din, with support from Senior Associate Sridutt Mishra, and Associate Arjun Bhatia.
Sidley Austin acted as international legal counsel to the book-running lead managers on the offering.
S&R Associates advised the promoter selling shareholder Prudential Corporation Holdings Limited.
The deal reporting on this platform is based on the information received from law firms, and therefore, some details may be missing/incomplete. If your firm has not been credited for this deal, write to us at chanchal.makhija@thegreymatter.co.in mentioning your firm’s name, lawyers involved (including designation) and client represented.
