Leading market Guru and Executive Director and Chief Investment Officer of ICICI Prudential Asset Management Company (AMC), Sankaran Naren, received a total remuneration of Rs 5.89 crore in fiscal year 2025, according to the Draft Red Herring Prospectus filed by the company.
The total payout includes salary, bonus, perquisites, and deferred bonuses accrued over the previous financial years (fiscals 2021–2023). In addition, a deferred compensation of Rs 1.37 crore has been accrued for FY25 and will be paid at a later date. These numbers are as per the ICICI Prudential AMC DRHP.
Naren, known as a mutual fund and capital market investment guru, joined ICICI Prudential AMC in October 2004 and has been reappointed as Executive Director and CIO for another two-year term, effective July 1, 2024.
For the ongoing fiscal year, he is entitled to a basic salary of Rs 1.41 crore and a fixed salary of Rs 3.54 crore. His target bonus has been set at Rs 2.83 crore. He is also eligible for employee stock options under the ESOP plans of ICICI Bank, the AMC’s parent company, subject to approval by the bank’s board.
Naren’s journey at ICICI Prudential AMC
Sankaran Naren has been associated with ICICI Prudential AMC for over two decades. He has more than 30 years of experience in the financial services and asset management industry. He holds a degree in mechanical engineering from IIT Madras and a postgraduate diploma in management from IIM Calcutta.
During his career, he has also worked with organizations such as Refco Sify Securities India, HDFC Securities, and Yoha
Securities in various capacities.
He is also an active member of the Association of Mutual Funds in India’s (AMFI) committee on equity matters.
In 2023, Naren was named “CIO of the Year (India)” at Asia Asset Management’s Best of the Best Awards, recognising his long-standing contribution to India’s investment landscape.
ICICI Prudential AMC files draft IPO papers with SEBI
ICICI Prudential Asset Management Company, the country’s second-largest asset manager by assets under management, filed its Draft Red Herring Prospectus with SEBI on July 8, marking the first step towards its proposed initial public offering (IPO) worth up to Rs 10,000 crore.
The IPO will be a pure offer-for-sale (OFS) of 1.76 crore shares by UK-based Prudential Corporation Holdings, the joint venture partner. As there is no fresh issue of shares, the entire proceeds from the listing will go to the selling shareholder. ICICI Prudential AMC will not receive any funds from the offer.
