ICICI Prudential Asset Management Company (AMC), a subsidiary of ICICI Bank, has received regulatory approval to raise funds through its much-awaited initial public offering (IPO). The country's second-largest asset manager by assets under management (AUM) had filed its draft red herring prospectus (DRHP) with market regulator Sebi more than four months ago on July 8, 2025.
The IPO will be managed by a 18-bank syndicate led by Citi, Morgan Stanley, BofA Securities, Axis Capital and CLSA. Other book runners include IIFL Capital, Kotak Mahindra Capital, Nomura, SBI Caps, ICICI Securities, Goldman Sachs, Avendus, BNP Paribas, HDFC Bank, JM Financial, Motilal Oswal, Nuvama and UBS. KFin Technologies is the registrar.
ICICI Prudential AMC IPO Issue Size, Valuation
According to a PTI report, the AMC aims to raise Rs 10,000 crore through its IPO. Its DRHP states that the IPO will be a 100 per cent offer-for-sale (OFS) by the UK-based promoter Prudential Corporation Holdings Limited, with no fresh issue component. The promoter will be offloading 17.65 million equity shares of face value Re 1 per share, or 10 per cent of the company’s stakes.
ICICI Prudential AMC is aiming for a valuation of $12-12.5 billion (Rs 1.07-1.11 lakh crore) for its upcoming IPO, according to a Moneycontrol report, making it one of the largest listings within the financial services sector.
ICICI Prudential AMC IPO Expected Date
According to a Kotak Securities report, the AMC plans to list the shares in the third week of December.
Post successful debut, ICICI Prudential AMC will be the fifth group firm to list on the Indian stock market after ICICI Bank, ICICI Prudential Life Insurance Company, ICICI Lombard General Insurance Company and ICICI Securities.
