ICICI Prudential Asset Management Company (AMC) has
announced the price band for its highly anticipated initial public offering
(IPO) at Rs 2,061 to Rs 2,165 per share. The IPO subscription will open on
December 12, 2025, with anchor investor bidding starting a day earlier on
December 11. The issue will close on December 16, followed by the basis of
allotment being finalized on December 17. Refunds and crediting of shares to
investors’ accounts are scheduled for December 18, with the company listing its
shares on stock exchanges on December 19, 2025.
The IPO is a pure offer for sale, where Prudential
Corporation Holdings, the promoter, plans to divest around 10 percent of its
stake, translating to approximately 4.9 crore shares. At the upper end of the
price band, this sale is valued at roughly Rs 10,603 crore, reducing Prudential
Corp’s holding from 49 percent to about 39 percent. ICICI Bank retains its
majority stake of 51 percent. Once listed, ICICI Prudential AMC will join other
ICICI Group entities traded on the bourses, including ICICI Bank, ICICI
Prudential Life Insurance, and ICICI Lombard General Insurance.
As India’s second-largest asset manager by quarterly average
assets under management (QAAUM), holding a 13.2 percent market share, ICICI
Prudential AMC manages an extensive portfolio of 143 mutual fund schemes—more
than any other domestic asset manager. The company reported strong financial
performance for the six months ended September 2025, with profits of Rs 1,618
crore and revenue of Rs 2,949.4 crore, marking year-on-year increases of 21.9
percent and 20 percent, respectively. For the fiscal year ending March 2025,
profits rose 29.3 percent to Rs 2,650.7 crore, while revenue surged 32.4
percent to Rs 4,977.3 crore.
The IPO attracts a strong lineup of 18 lead managers,
including prominent financial institutions such as Citigroup, Morgan Stanley,
Bank of America, 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. Market experts value the firm’s IPO
between $12 billion (Rs 1.07 lakh crore) and $12.5 billion (Rs 1.11 lakh
crore), with a potential issue size around $1.2 billion to $1.25 billion, indicating
its significant scale.
ICICI Prudential AMC faces competition from other major
listed asset managers like HDFC AMC, Nippon Life India Asset Management, UTI
AMC, and Aditya Birla Sun Life AMC. This IPO represents a landmark offering in
the Indian asset management industry, promising strong investor interest due to
the company’s market leadership and robust financial health.
This IPO is expected to reinforce ICICI Prudential AMC’s
market position while offering investors an opportunity to participate in the
growth of India’s expanding mutual fund sector
