Rs 10,000 Crore IPO: ICICI Prudential AMC Submits DRHP, Eyes Major Market Debut

ICICI Prudential Asset management Company (AMC), which is one of the largest AMCs in India, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) on July 8 for its initial public offering (IPO).

Earlier today ICICI Bank said that it will acquire an additional 2% in ICICI Prudential AMC.

At present, ICICI Bank holds 51% stake in ICICI Prudential AMC, and Prudential Corporation Holdings (PHCL) holds 49% stake. The companies have been operating as a joint venture since 1998.

ICICI Prudential AMC IPO: Key Details

The public issue comprises of an offer for sale (OFS) of 17.6 million equity shares or 10% of the equity held by the foreign partner which is Prudential Corporation Holdings.

The company is planning to offload up to 1,76,52,090 shares.

The IPO doesn't have a fresh issue component and the company is not going to receive any money from the offer as all the proceeds will go to the selling shareholder.

Kfin Technologies is the registrar of the issue and it has a total of 18 bookrunning lead managers including Citigroup Global Markets India, Morgan Stanley India, BofA Securities, Axis Capital, CLSA India, IIFL Capital Services, Kotak Mahindra Capital, Nomura Financial Advisory and Securities (India), SBI Capital Markets, ICICI Securities, Goldman Sachs (India) Securities, Avendus Capital, BNP Paribas, HDFC Bank, JM Financial, Motilal Oswal Investment Advisors, Nuvama Wealth Management and UBS Securities India.

The company's revenue from operations increased by 32.4% to Rs 4,977.3 crore in FY25, up from Rs 3,758.2 crore in FY24 and the profit for the year ended March 31, 2025, stood at Rs 2,650.66 crores.

ICICI Prudential AMC

ICICI Prudential AMC is the largest asset management company in India in terms of active mutual fund quarterly average assets under management (QAAUM), as per the DRHP and it has a market share of 13.3% as of March 31, 2025.

The company also serves as many as 14.6 million customers as of March 31, 2025.

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