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ICICI Prudential AMC is set to raise 10,600 crore through an offer for sale. This move will reduce promoter shareholding to 90.1%. The company shows strong growth in assets under management and a growing investor base. Its performance is linked to retail investors and market volatility.
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News and Media
ICICI Prudential Asset Management's pre-IPO share sale saw robust participation. Around 4,900 crore was raised from 26 investors including foreign institutions and family offices. An additional 3,021 crore came from an anchor book with 74 institutional investors. Prominent names like Lunate, Premji Invest, and the estate of Rakesh Jhunjhunwala were among the participants. Major insurers also invested.
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Indian stock markets saw a rise on Thursday, snapping a losing streak. This followed a US Federal Reserve interest rate cut. However, ongoing trade deal negotiations between the US and India are expected to influence market sentiment in the coming weeks. Analysts anticipate the Nifty to trade within a defined range. Foreign investors continue to sell shares.
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Several mid-sized lenders, including Kotak Mahindra Bank, RBL Bank, and IndusInd Bank, are slowing new credit card issuances due to ongoing sector stress and a focus on cleaning up books. This contrasts with larger banks like HDFC Bank and ICICI Bank, which continue aggressive portfolio expansion.
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News and Media
Kotak Mahindra Bank is expanding its mid-market corporate loan book, targeting companies with 500 crore to 1,500 crore in turnover. This segment, which has grown over 35% compounded annually since its launch, is expected to see 20-25% growth over the next five years. The bank aims for this mid-market book to reach at least 20% of its total corporate portfolio.
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News and Media
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