ICICI Prudential AMC Set for $1.2 Billion IPO Launch Next Week

ICICI Prudential Asset Management Company is expected to launch its initial public offering(IPO) next week, aiming to raise about ₹107 billion ($1.2 billion), as per Bloomberg. The timeline follows the company’s updated draft offer document filed earlier this week. 

Valuation and Stake Sale 

The offer is based on a proposed valuation of roughly $12 billion. As outlined in the filing, UK-based Prudential plans to sell around 10% of its holdings in the asset manager.  

ICICI Bank currently owns 51% of the joint venture, while Prudential holds the remaining 49%. Final terms, including the price band, will be announced before the subscription window opens. 

Regulatory Approval and Offer Structure 

India’s market regulator cleared the company’s long-pending prospectus last week, allowing the share sale to proceed.  

The updated document sets out the structure of the offer and the shareholding details of both partners. Some elements of the plan may still shift as internal discussions are ongoing. 

Broader IPO Activity 

If launched as scheduled, ICICI Prudential AMC’s issue will be the 5th public offering this year expected to raise more than $1 billion. Companies in India have already raised about $19.6 billion through IPOs in 2025. Last year’s fundraise reached almost $21 billion, according to Bloomberg data, indicating continued demand for equity listings. 

Banks Handling the Issue 

The transaction is being managed by a syndicate of 18 banks, the largest group appointed for any IPO in India so far.  

Citigroup Inc and ICICI Securities Ltd are among the firms involved. Public subscription is likely to open later next week after the pricing announcement. 

Read More: Oyo Parent Prism Seeks Shareholder Approval for IPO Worth ₹6,650 Crore! 

Conclusion 

The planned listing adds another large issue to India’s busy IPO calendar this year. Further details will depend on the company’s pricing announcement and the final schedule set in the coming days. 

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