Another big-ticket IPO from the financial sector- In what could be one of the most watched listings in the financial space this year, ICICI Prudential Asset Management Company (ICICI Pru AMC) is preparing to make its stock market debut. The firm, backed by ICICI Bank and UK-based Prudential Holdings, filed draft papers with market regulator SEBI on July 8.
Let’s take a look at the important things that you need to know ahead of its opening
ICICI Prudential AMC IPO: Offer for sale only
The offering will be a pure offer-for-sale (OFS) with 1.76 crore equity shares. This is being offloaded by Prudential Corporation Holdings.
In simple terms, it means that the proceeds from the issue will go entirely to the selling shareholder, and ICICI Pru AMC itself will not receive any funds.
ICICI Prudential AMC IPO: Key development for ICICI Group
Interestingly, if the IPO goes the way planned, this IPO will mark the fifth listing from the ICICI Group, joining the likes of ICICI Bank, ICICI Prudential Life, ICICI Lombard, and ICICI Securities.
Moreover, it is also important to note that it will also be the fifth asset management company to list on Indian stock exchanges, after HDFC AMC, Nippon Life AMC, UTI AMC, and Aditya Birla Sun Life AMC.
ICICI Prudential AMC IPO: India’s second largest AMC by market
The company has been in the mutual fund business for over 30 years. It is operating as a joint venture between ICICI Bank (51%) and Prudential (49%).
As of March 2025, the company holds a 13% share of India’s total quarterly average AUM,. It serves over 14.6 million investors, making it India’s second largest asset manager.
ICICI Prudential AMC IPO: Financials back of the IPO
Coming off the financial performance of the company, for FY25, the net profit for ICICI Prudential AMC surged 29.3% year-on-year to Rs 2,650.7 crore. The revenue of the company jumped 38.7% to Rs 4,682.8 crore.
ICICI Prudential AMC IPO: Merchant bankers onboard
In a first for the Indian primary market, a total of 18 merchant bankers have been appointed to manage this IPO including names like Citigroup, Morgan Stanley, BofA Securities, Axis Capital, and ICICI Securities, among others.
Bonus: ICICI Bank plans to raise stake
Ahead of the IPO, ICICI Bank has also secured board approval to buy up to 2% additional stake in the AMC. Meanwhile, Prudential had earlier indicated its plan to partially exit and list the firm publicly.