ICICI Prudential completed India's largest initial public offering in six years on Wednesday, securing a premium valuation at a time when the country's equity markets are riding a wave of positive momentum.
Sources close to the deal said the 181.4 million share offering has been priced at Rs334 per share, the very top of a Rs300 to Rs334 indicative range.
An official announcement is expected on Thursday morning, reporting deal proceeds of Rs60.6 billion $912 million. This makes ICICI Prudential's IPO the largest since Coal India's $3.46 billion listing in October 2010.
Based on issuance of 12.63% of the company's share capital,...
¬ Haymarket Media Limited. All rights reserved.
