ICICI Prudential AMC readies $1.1B IPO, SEBI approval expected soon
20 Nov 2025

ICICI Prudential Asset Management Company (AMC) is gearing up for a major initial public offering (IPO) in the coming weeks.

The company plans to raise ₹10,000 crore (approximately $1.1 billion) through this public offering.

The entire offer will be a sale by Prudential Corporation Holdings, which will offload around 1.77 crore shares or a 10% stake in the firm.

ICICI Bank to retain majority stake post-IPO
Stake retention

Even after the IPO, ICICI Bank will continue to hold its majority stake in the company.

The share sale is being handled by a large consortium of 18 banks, with ICICI Securities and Citigroup at the helm.

The shares are divided into three categories: 50% for institutional investors, 35% for retail investors (common people), and the remaining for non-institutional investors.

ICICI Prudential AMC's impressive growth and performance
Business expansion

The joint venture of ICICI Bank (51%) and Prudential Plc (49%) has become India's second-largest mutual fund manager.

It manages ₹8.79 lakh crore across various funds and posted an impressive return on equity of 82.8% for FY2024.

The IPO could be expanded from about 17.65 million shares to nearly 49.43 million in case of a bonus issue (at a ratio of 1.8-for-1).

Listing and proceeds from the IPO
Market entry

The shares will be listed on both BSE and NSE, making them easily tradable.

All the money raised from this public offering will go directly to Prudential Corporation Holdings and not into ICICI Prudential AMC itself.

The Securities and Exchange Board of India (SEBI) has indicated that it will approve the IPO in the coming days, paving the way for one of India's biggest public offerings this year.