ICICI Prudential AMC IPO to open on Dec 12 with a pure OFS; listing on Dec 19

ICICI Prudential AMC IPO News

ICICI Prudential Asset Management Company, the second largest asset management company in India, has filed a Red Herring Prospectus with the Registrar of Companies to launch its initial public offering (IPO) on December 12. The offer size is not known yet, but according to media reports, the company is expected to raise around Rs 10,000 crore via IPO.

It is entirely an offer-for-sale of 4.89 crore equity shares (9.9 percent of paid-up equity) by Prudential Corporation Holdings, with no fresh issue component.

The asset management company has reserved up to 24.48 lakh equity shares of the total offer for the shareholders of ICICI Bank.

The anchor book of the IPO will be launched for a day on December 11, while the offer will remain open for the public till December 16. The IPO share allotment will be finalised by December 17, and ICICI Prudential AMC shares will start trading on the BSE & NSE effective December 19.

Post listing, this would be the fourth company available for trading on the bourses from the ICICI Group after ICICI Bank, ICICI Prudential Life Insurance Company, and ICICI Lombard General Insurance Company.

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ICICI Prudential Asset Management Company has been operating as a joint venture between ICICI Bank and UK-based Prudential Corporation Holdings since 1998, with shareholding in the ratio of 51:49 percent.

The company will not receive any funds from the IPO, as all the money will be received by the selling shareholder.

The draft document for the IPO was filed by the company with the SEBI in July this year, and the capital markets regulator cleared the IPO papers in November.

ICICI Prudential AMC which claims to be the second largest asset management company in India in terms of quarterly average assets under management (QAAUM) with a 13.2 percent market share, has recorded a profit of Rs 1,618 crore and revenue of Rs 2,949.4 crore for the six months ended September 2025, growing 21.9 percent and 20 percent, respectively, over the same period last year.

In the financial year ended March 2025, it reported a profit of Rs 2,650.7 crore, increasing 29.3 percent over Rs 2.049.7 crore profit in the previous year. Revenue in the same period soared 32.4 percent to Rs 4,977.3 crore, up from Rs 3,758.2 crore.

ICICI Prudential AMC has managed 143 mutual fund schemes, the largest number of schemes managed by an asset management company in India, competing with the four listed peers - HDFC AMC, Nippon Life India Asset Management, UTI AMC, and Aditya Birla Sun Life AMC - in the sector.

A total of 18 merchant bankers - Citigroup Global Markets India, Morgan Stanley India Company, BofA Securities India, Axis Capital, CLSA India, IIFL Capital Services, Kotak Mahindra Capital Company, Nomura Financial Advisory and Securities (India), SBI Capital Markets, ICICI Securities, Goldman Sachs (India) Securities, Avendus Capital, BNP Paribas, HDFC Bank, JM Financial, Motilal Oswal Investment Advisors, Nuvama Wealth Management, and UBS Securities India - are managing the ICICI Prudential AMC IPO.