ICICI Prudential Asset Management Companys stock market debut was a resounding success, with shares surging by 20% on their first day of trading. The initial public offering, aimed at raising $1.17 billion, was oversubscribed by 39 times, indicating immense demand. Major institutional investors, including Singapores GIC and Temasek, and Indias Life Insurance Corporation, led the charge. While institutional interest was high, retail investors also showed significant interest, with the retail portion subscribed 2.5 times. ICICI Prudential AMC, Indias largest asset management company, manages over $1.11 billion in assets and serves 15.5 million individual investors. This growth is driven by a rising trend of young investors, particularly millennials and Gen Z, investing in mutual funds. The increase in investments through systematic investment plans, which have tripled over the last four years, presents a significant opportunity for asset managers as more retail investors enter the capital markets.

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