Subscribe for ICICI Prudential AMC Ltd IPO; Anand Rathi

Anand Rathi, ICICI Prudential AMC Ltd

ICICI Prudential AMC is the largest asset management company (“AMC”) in India based on active mutual fund quarterly average assets under management (QAAUM), with a 13.3% market share as of September 30, 2025. Their total mutual fund QAAUM stood at ₹10,147.6 billion on that date. They ranked as the largest AMC in Equity and Equity-Oriented QAAUM with a 13.6% market shares and held the highest market share in Equity-Oriented Hybrid Schemes as of September 30, 2025, as well as for the years ended March 31, 2025, 2024 and 2023. As of September 30, 2025, the EquityOriented Hybrid QAAUM market share was 25.8%, the highest in India. The mutual fund monthly average AUM (MAAUM) from Individual Investors— including retail and HNI clients—was ₹6,610.3 billion as of September 30, 2025, representing the highest Individual Investor MAAUM in the industry, with a 13.7% market share.

Valuation and Outlook

Hence, we recommend subscribing to the IPO from the medium to long-term perspective.