ICICI Prudential Asset Management in Focus as AMC Files IPO Papers with SEBI

Market Performance

The ICICI Prudential Asset Management  came into focus following the company's recent filing for an Initial Public Offering (IPO) with SEBI. The move is expected to generate market attention, as this becomes the fifth ICICI Group firm to eye a public listing.

Currently, ICICI Prudential AMC ranks as the second-largest asset management company in India, based on Quarterly Average Assets Under Management (QAAUM).

Main News: IPO Filing Highlights

ICICI Prudential Asset Management Company filed its draft red herring prospectus with SEBI on July 8, 2025. The key highlights of the filing are as follows:

• IPO Type: 100% Offer for Sale (OFS)
• Shares on Offer: 1.76 Crore equity shares
• Selling Entity: Prudential Corporation Holdings (UK-based partner)
• No fresh issue—the company will not receive IPO proceeds

This represents a significant milestone for the company, as all IPO proceeds will be directed exclusively to the selling shareholder, Prudential Corporation Holdings.

Company Profile: ICICI Prudential AMC

• Established: 1998 (as a JV between ICICI Bank & Prudential Corporation Holdings)
• Ownership: ICICI Bank (51%) and Prudential Corporation Holdings (49%)
• Customer Base: 14.6 million investors
• Market Share (QAAUM): 13% as of March 2025
• Industry Position: 2nd largest AMC in India

If listed successfully, ICICI Prudential AMC will be the fifth entity from the ICICI Group to go public, following:

1. ICICI Bank
2. ICICI Prudential Life Insurance
3. ICICI Lombard General Insurance
4. ICICI Securities

It will also become the sixth AMC to be listed after:

• HDFC AMC
• Nippon Life India AMC
• UTI AMC
• Aditya Birla Sun Life AMC
• Shriram AMC

Financial Performance Snapshot (FY25 vs FY24)

The company reported strong financial growth across key metrics during the last fiscal year:

Revenue

• FY25: ₹4,682.8 crore
• FY24: ₹3,375.9 crore
• Growth: +38.7%

Net Profits

• FY25: ₹2,650.7 crore
• FY24: ₹2,049.7 crore
• Growth: +29.3%

ICICI Bank's Strategic Move

In its board meeting held on June 27, 2025, ICICI Bank approved:

• The purchase of up to 2% additional shareholding in ICICI Prudential AMC.
• The move is aimed at maintaining majority control in the event of stock-based compensation grants.

This decision reinforces ICICI Bank's commitment to maintaining its strategic hold on the AMC business.

Historical Milestone: 18 Merchant Bankers Appointed

The ICICI Prudential Asset Management share price buzz is amplified by a record-setting move in India's primary market history—18 merchant bankers have been appointed for the IPO. The list includes:

• Citigroup Global Markets India
• Morgan Stanley India
• BofA Securities India
• Axis Capital
• CLSA India
• IIFL Capital Services
• Kotak Mahindra Capital
• Nomura India
• SBI Capital Markets
• ICICI Securities
• Goldman Sachs India
• Avendus Capital
• BNP Paribas
• HDFC Bank
• JM Financial
• Motilal Oswal Investment Advisors
• Nuvama Wealth Management
• UBS Securities India

This broad consortium highlights the scale and significance of the offering.

Timeline Recap

• Feb 12, 2025: Prudential PLC disclosed intent for partial stake divestment
• Feb 12, 2025: ICICI Bank reaffirmed its intent to maintain majority shareholding
• June 27, 2025: ICICI Bank board approved 2% shareholding acquisition
• July 8, 2025: DRHP filed with SEBI

Summary of the Article

• ICICI Prudential AMC has officially filed for its IPO with SEBI, featuring a 1.76 Crore share OFS by its UK partner.
• The IPO will be non-dilutive as no new shares are being issued.
• The AMC ranks second in India by AUM and has shown strong double-digit growth in revenue and profits in FY25.
• ICICI Bank is actively securing its majority holding amid this divestment.
• With 18 merchant bankers managing the offering, this IPO sets a new benchmark in the Indian primary markets.