ICICI Prudential AMC Set to Launch Major IPO, Targeting ₹10,000 Crore

Overview of ICICI Prudential AMC's Upcoming IPO

ICICI Prudential Asset Management Company, recognized as India's second-largest asset management firm, is preparing for a significant entry into the stock market. The company has submitted its Draft Red Herring Prospectus (DRHP) to the regulatory authorities on July 8, indicating its intentions for an Initial Public Offering (IPO) that will be entirely an Offer for Sale (OFS).

The IPO will involve the sale of approximately 1.76 crore shares, representing 10% of the company's equity, by its British partner, Prudential Corporation Holdings Limited (PCHL). According to reports, this IPO could raise up to ₹10,000 crore, potentially valuing the company at around $12 billion (approximately ₹1 lakh crore).

Key Details About the IPO

Shares of ICICI Prudential will be listed on both BSE and NSE, with a reserved 10% allocation for shareholders of ICICI Bank. The IPO is being managed by a consortium of 18 leading banks and firms, including Morgan Stanley, Citigroup, BofA Securities, and ICICI Securities.

The launch of the IPO is anticipated between October and December 2025, contingent upon market conditions and regulatory approvals.

ICICI Bank's Increased Stake

In its filing, ICICI Bank disclosed that it has entered into an agreement with PCHL on July 8, aiming to increase its stake in the company to 2% prior to the IPO. Currently, ICICI Bank holds a 51% stake in ICICI Prudential AMC, while PCHL owns the remaining 49%. This additional stake acquisition will be subject to corporate and regulatory approvals, allowing ICICI Bank to maintain control over this key subsidiary.

Financial Strength of ICICI Prudential AMC

As of March 31, 2025, ICICI Prudential AMC reported a quarterly average assets under management (QAAUM) of ₹9.43 lakh crore, making it the largest active mutual fund manager in India with a market share of 13.3%. The company serves 14.6 million clients and operates 135 mutual fund schemes. In the fiscal year 2025, the company's revenue surged by 32.4% to ₹4,977 crore, while net profit increased by 29.3% to ₹2,651 crore.