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ICICI Prudential AMC IPO Filed, Entirely Offer For Sale by Prudential PLC

Written by: Team Angel OneUpdated on: 9 Jul 2025, 7:23 pm IST
ICICI Prudential AMC files IPO papers with SEBI, consisting of ₹10,000 crore OFS by UK’s Prudential PLC. No new share issuance is involved.
ICICI Prudential AMC IPO Filed, Entirely Offer For Sale by Prudential PLC
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ICICI Prudential Asset Management Company, India’s second-largest AMC, has filed for an IPO with the entire offering comprising an Offer For Sale (OFS) by its British joint venture partner, Prudential PLC, with no fresh equity issuance.

Complete OFS from Foreign Partner

ICICI Prudential AMC submitted its draft red herring prospectus to SEBI for a proposed IPO totalling ₹10,000 crore, as per Moneycontrol reports. The public issue will involve only a sale of 1.76 crore shares by Prudential Corporation Holdings, headquartered in the United Kingdom. There will be no fresh shares issued, indicating that the entire proceeds from this IPO will go to the selling shareholder and not the company.

Joint Venture and Ownership Structure

Since 1998, ICICI Prudential AMC has functioned as a 51:49 joint venture between ICICI Bank and Prudential PLC. To ensure retention of majority ownership, ICICI Bank recently approved the purchase of up to 2% additional equity in the AMC to offset future allocations like employee stock options.

Largest AMC IPO To Date With 18 Bankers Involved

This IPO marks a historic milestone as it will be managed by 18 merchant bankers, the highest ever in any Indian IPO deal. Banks like Citigroup, ICICI Securities, JPMorgan, Kotak Mahindra, and SBI Capital are part of the syndicate, underscoring the importance and size of the fund raise.

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Strong Financials And Market Position Boost IPO Appeal

With over 30 years of experience in asset management, ICICI Prudential AMC secured a 13% market share with a quarterly average assets under management by March 2025, serving 14.6 million customers. The firm reported a 29.3% increase in profit for FY25 at ₹2,650.7 crore, alongside a 38.7% revenue jump to ₹4,682.8 crore.

Fifth ICICI Group Firm and Fifth AMC To Go Public

If successful, this IPO will mark the 5th listing from the ICICI Group, joining ICICI BankICICI Prudential LifeICICI Lombard General, and ICICI Securities. It would also be the 5th AMC to list after HDFC AMCNippon Life India AMCUTI AMC, and Aditya Birla Sun Life AMC.

Conclusion

ICICI Prudential AMC's IPO, solely consisting of an OFS by Prudential PLC, reflects the global partner’s strategic divestment while ICICI Bank maintains majority control. The AMC’s solid track record and significant market presence make this a notable development in India’s financial landscape.

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities are subject to market risks. Read all related documents carefully before investing.

Published on: Jul 9, 2025, 1:53 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

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