ICICI Prudential AMC IPO Gets SEBI Approval; ₹10,000 Crore Issue to Launch in December

ICICI Prudential Asset Management Company (AMC) has received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). The issue size is estimated at ₹10,000 crore, according to news reports.

IPO Launch Expected in December

The country’s second-largest asset manager is expected to bring its IPO to the market in the second half of December. The entire IPO will be an offer for sale (OFS) by UK-based Prudential Corporation Holdings (PCH), with the listing likely to value the AMC at more than ₹1 trillion, making it one of the biggest listings in the financial sector.

Prudential to Sell 10% Stake

PCH, which currently owns 49% of AMC, will sell 10% of its stake through the IPO. ICICI Bank will continue to hold the remaining 51%.
Notably, Prudential had acquired this 10% stake for just ₹10 crore in 1998, making the sale extremely profitable for the company.

Fifth IPO from ICICI Group

This offering will be the fifth IPO from the ICICI group. Previous listings include:

• ICICI Bank
• ICICI Prudential Life Insurance
• ICICI Lombard General Insurance
• ICICI Securities (now delisted)

It will also be the fifth AMC IPO in India.

Strong Industry Growth Supporting the Issue

India’s mutual fund industry has seen strong growth in recent years, driven by:

• Rising retail interest in financial assets
• Better equity mutual fund performance since the pandemic
• Rapid surge in SIP investments, which rose from ₹1 trillion in FY22 to ₹2.9 trillion in FY25

Total MF assets under management (AUM) have also more than doubled to nearly ₹75 trillion.

ICICI Prudential AMC’s Financial Strength

ICICI Prudential AMC has benefited significantly from this industry boom.

• Its AUM has grown to over ₹10 trillion, nearly 3 times in a few years.
• For FY25, it reported a net profit of ₹2,650 crore on revenue of ₹4,683 crore.

Record Number of Investment Banks Managing the IPO

The IPO is being handled by 17 investment banks, including:

• Citibank
• ICICI Securities
• Morgan Stanley
• Goldman Sachs

This is one of the highest numbers of managers for an Indian IPO.

Also Read: NSE, OYO, Flipkart, and Others: India's IPO Market is Set for Landmark Year in 2026!

Conclusion

ICICI Prudential AMC’s upcoming IPO marks a major milestone for the mutual fund industry. With SEBI’s approval, a large issue size, and strong sector momentum, the December launch is expected to attract strong investor interest. The listing will also deliver significant gains to Prudential as it unlocks long-term value from its stake in the fund house.

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