S&R Associates represented Prudential Corporation Holdings Limited, a subsidiary of Prudential plc, in the initial public offering and pre-IPO placements of ICICI Prudential Asset Management Company Limited. The aggregate proceeds were INR 154.18 billion (approx. US$1.71 billion), with INR 106.03 billion (approx. US$1.17 billion) raised in the IPO and INR 48.15 billion (approx. US$535.75 million) raised in the pre-IPO placements. This was the largest IPO by an asset management company in India and the fourth-most subscribed IPO in India.
The IPO team was led by partners Sandip Bhagat and Juhi Singh, and included associates Shwetank Sharma, Ayushi Shrivastava and Ishika Patnaik.
The pre-IPO M&A placements team was led by partners Rajat Sethi and Radhika Iyer, and included associates Stuti Dhundia and Divyanshu Sharma, and was also assisted by counsel Sushmita Sur and associate Varun Yadav.