UK's Prudential is evaluating a potential listing of ICICI Prudential Asset Management

Prudential is evaluating a potential listing of ICICI Prudential Asset Management

British insurer Prudential Plc announced on February 12 that it is evaluating a potential listing of ICICI Prudential Asset Management Company Limited involving the partial divestment of its shares, subject to market conditions, requisite approvals and other considerations.

"It is intended that following the completion of such a divestment, the net proceeds would be returned to shareholders. We will provide a further update at an appropriate time. India is a strategically important market for Prudential with compelling growth prospects. We will continue to explore opportunities to grow our businesses in the market. India is a strategically important market for Prudential with compelling growth prospects. We will continue to explore opportunities to grow our businesses in the market," the official statement added.

The 51:49 joint venture has existed for 26 years with ICICI Bank tying up with Prudential Plc back in 1998. "We intend to retain our majority shareholding in ICICI Prudential Asset Management Company, ensuring our long-term commitment," said ICICI Bank in a stock exchange filing.

Led by MD and CEO Nimesh Shah and Executive Director and Chief Investment Officer Sankaran Naren, as of September 2024, ICICI Prudential AMC had assets under management of Rs 8,67,000 crore + and 1.1 crore + investors across 133 + schemes.

With assets under management (AUM) of Rs 11,19,756.6 crore as of September, SBI Mutual Fund is India's largest asset management company (AMC).

The AMC also caters to portfolio management services for investors, spread across the country, along with international advisory mandates for clients across international markets in asset classes like debt, equity and real estate, the website adds.

Over and above ICICI Bank, the other entities from the ICICI group that are listed include ICICI Prudential Life Insurance Company, ICICI Lombard General Insurance Company and ICICI Securities.

The share price of ICICI Prudential AMC's listed AMC peers like HDFC Asset Management Company , Nippon Life India Asset Management Company and UTI Asset Management Company have risen by around 1.81 per cent, 15.63 per cent and 11.91 per cent respectively in the last year.

Prudential Plc provides life, health insurance and asset management to more than 18 million customers across 24 markets in Asia and Africa. Headquartered in London and Hong Kong, the business is focused on four strategic regions: Greater China, ASEAN, India and Africa.