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ICICI Prudential AMC files papers for Rs 10,000 crore IPO

With this IPO, ICICI Prudential AMC is set to join the growing list of publicly traded asset management companies in India, as it looks to further strengthen its market leadership and expand its footprint in both traditional and alternative investment spaces.

As of March 31, 2025, ICICI Prudential AMC managed average monthly mutual fund assets of Rs 5.66 lakh crore for individual investors, which includes both retail and high-net-worth individuals. (Credit: Pexels)

ICICI Prudential Asset Management Company, India’s second-largest asset manager, has filed draft papers with SEBI for an initial public offering (IPO) estimated at Rs 10,000 crore. The entire IPO will be an offer for sale (OFS) of up to 1.76 crore shares by its foreign joint venture partner, Prudential Corporation Holdings, which is based in the UK. Since the IPO is entirely an OFS, the proceeds will go to Prudential and not to the company itself.

The shares will be offered at a face value of Rs 1 each, and the IPO will include a reservation for eligible ICICI Bank shareholders under a special quota. The offering is structured through the book-building process, with up to 50 per cent of the issue reserved for qualified institutional buyers (QIBs), at least 15 per cent for non-institutional investors (NIIs), and at least 35 per cent earmarked for retail investors, aligning with SEBI’s allocation norms.

The company’s total mutual fund quarterly average assets under management (QAAUM) stood at Rs 8.79 lakh crore as of March 2025. Within this, it held the highest market share of 13.4 per cent in equity and equity-oriented schemes among Indian asset management companies, reflecting its dominant position in the equity segment.

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As of March 31, 2025, ICICI Prudential AMC managed average monthly mutual fund assets of Rs 5.66 lakh crore for individual investors, which includes both retail and high-net-worth individuals. In addition to its core mutual fund business, the company has a growing business in the alternatives space, offering portfolio management services, alternative investment fund (AIF) management, and offshore advisory services.

ICICI Prudential AMC is one of the oldest players in the Indian asset management industry, with over three decades of experience. As of March 31, 2025, it managed the highest number of schemes in the mutual fund space—135 in total—comprising 42 equity and equity-oriented schemes, 20 debt schemes, 56 passive schemes, 14 domestic fund-of-fund schemes, and one each in the liquid, overnight, and arbitrage categories.

On the financial front, the company reported strong growth in FY25. Revenue from operations jumped 32.4 per cent year-on-year, rising from Rs 3,758 crore in FY 2024 to Rs 4,977 crore in FY25, mainly driven by higher fee and commission income. Its profit after tax (PAT) also grew by 29.3 per cent, reaching Rs 2,651 crore in FY25 compared to Rs 2,050 crore in the previous fiscal year.

With this IPO, ICICI Prudential AMC is set to join the growing list of publicly traded asset management companies in India, as it looks to further strengthen its market leadership and expand its footprint in both traditional and alternative investment spaces.

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