ICICI Prudential Asset Management Company, India’s second-largest asset manager, has filed papers for an initial public offering (IPO) estimated at Rs 10,000 crore.
Understanding the IPO Details
The entire IPO is an Offer for Sale (OFS), meaning the existing foreign joint venture partner, Prudential Corporation Holdings (based in the UK), will sell up to 1.76 crore shares. This structure means the proceeds from the IPO will go directly to Prudential and not to ICICI Prudential AMC itself.
Each share in the offering has a face value of Re 1. The IPO also includes a special quota for eligible ICICI Bank shareholders, providing an opportunity for existing investors to participate.
The offering will be managed through a book-building process, following SEBI guidelines. Up to 50% of the issue is reserved for qualified institutional buyers (QIBs), at least 15% for non-institutional investors (NIIs), and a minimum of 35% for retail investors.
A Look at ICICI Prudential AMC’s Scale
As of March 2025, ICICI Prudential AMC reported a robust quarterly average assets under management (QAAUM) of Rs 8.79 lakh crore. Within the Indian asset management sector, it holds a leading 13.4% market share in equity and equity-oriented schemes, highlighting its strong position in this segment.
The company also manages significant assets for individual investors, with average monthly mutual fund assets of Rs 5.66 lakh crore as of March 31, 2025. Beyond its core mutual fund business, ICICI Prudential AMC is expanding into alternative investments, offering services like portfolio management, alternative investment fund (AIF) management, and offshore advisory.
Decades of Expertise and Diverse Offerings
With over three decades of experience, ICICI Prudential AMC is one of the oldest players in the Indian asset management industry. Its extensive product basket includes a total of 135 schemes as of March 31, 2025.
These schemes are broadly categorized into 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, catering to a wide range of investor needs.
Strong Financial Performance
The company demonstrated impressive financial growth in the fiscal year 2025. Its revenue from operations surged by 32.4% year-on-year, climbing from Rs 3,758 crore in FY24 to Rs 4,977 crore in FY25. This growth was primarily driven by an increase in fee and commission income.
Profit after tax (PAT) also saw a significant boost, growing by 29.3%. It reached Rs 2,651 crore in FY25, up from Rs 2,050 crore in the previous fiscal year, showcasing the company’s strong profitability.
- The IPO is entirely an Offer for Sale by Prudential Corporation Holdings.
- ICICI Prudential AMC holds the highest market share in equity and equity-oriented schemes.
- The company reported strong revenue and profit growth in FY25.
This IPO marks a significant step for ICICI Prudential AMC as it aims to further cement its market leadership and broaden its footprint across both traditional and alternative investment avenues.
