ICICI Prudential Asset Management Co Ltd has set a price band of Rs 2,061–2,165 a share for its initial public offering, which opens for subscription on December 12. At the top end of the band, the company is valued at Rs 1.07 lakh crore.

The IPO is a pure offer for sale, with promoter Prudential Corp Holding set to divest around 10 percent stake, or 4.9 crore shares. At the upper price band, the sale is valued at roughly Rs 10,603 crore. Prudential Corp, which currently holds 49 percent in the asset manager, will see its stake fall to around 39 percent after the sale. ICICI Bank holds the remaining 51 percent stake.

Anchor bidding will open on December 11, and the issue will close on December 16. The basis of allotment will be finalised on December 17, while refunds and credit of shares

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