ICICI Prudential AMC sets price band of Rs 2061-2165 a share for IPO

ICICI Pru

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 to investor accounts will take place on December 18. The stock is scheduled to list on the exchanges on December 19.

The IPO has 18 lead managers, including Citigroup, Morgan Stanley, BofA, Axis Securities, CLSA, IIFL Capital, Kotak Mahindra Capital, SBI Caps, ICICI Bank, Goldman Sachs, Avendus, BNP Paribas, HDFC Bank, JM Financial, Motilal Oswal, Nuvama and UBS.

On November 27, Moneycontrol was the first to report that India's second largest asset management company in terms of managed assets, ICICI Prudential Asset Management Company had received the nod from market regulator Sebi for its proposed IPO.

Once listed, ICICI Prudential AMC will become the fourth ICICI Group company to trade on the bourses, joining ICICI Bank, ICICI Prudential Life Insurance and ICICI Lombard General Insurance.

The company, which describes itself as India’s second-largest asset manager by quarterly average assets under management (QAAUM) with a 13.2 percent market share, reported a profit of Rs 1,618 crore and revenue of Rs 2,949.4 crore in the six months ended September 2025—up 21.9 percent and 20 percent respectively from a year earlier. For the financial year ended March 2025, profit rose 29.3 percent to Rs 2,650.7 crore, while revenue surged 32.4 percent to Rs 4,977.3 crore.

ICICI Prudential AMC manages 143 mutual fund schemes—the highest number among domestic asset managers—and competes with listed players such as HDFC AMC, Nippon Life India Asset Management, UTI AMC and Aditya Birla Sun Life AMC.