SEBI Gives Green Light To ICICI Prudential AMC’s Mega IPO; 49 Million Shares On Offer

The Securities and Exchange Board of India (SEBI), the capital markets regulator, has given Mumbai-based ICICI Prudential Asset Management Company Ltd. final authorization for its initial public offering (IPO). On July 8, 2025, the company submitted its IPO paperwork to Sebi. The IPO comprises an offer for sale by promoter - Prudential Corporation Holdings.

"As on the date of the RHP, the issued, subscribed and paid-up share capital of the Company is 17,652,090 shares of Rs 1. Post completion of the proposed bonus issuance, the issued, subscribed and paid-up Equity Share capital of our Company shall increase from 176,520,900 Equity Shares of face value of Rs 1 each to 494,258,520 Equity Shares of face value of Rs 1 each. Subsequent to the proposed bonus issuance, if undertaken, the number of Offered Shares by Prudential Corporation Holdings shall be up to 49,425,852 Equity Shares of face value of Rs 1 each," said ICICI Prudential AMC in a statement.

ICICI Prudential AMC is a joint venture between ICICI Bank and Prudential Corporation Holdings Limited, active since 1998. With a market share of 13.3% as of March 31, 2025, the company is the largest asset management firm in India in terms of active mutual fund quarterly average assets under management (QAAUM) (Source: CRISIL Report). The company's total mutual fund QAAUM was Rs 8,79,410 crore as of March 31, 2025.

As of March 31, 2025, the company has the highest share of the market of equity and equity- focused schemes QAAUM, of 13.4% across asset management organizations in India (Source: CRISIL Report). Its equity-oriented hybrid schemes also had the largest market share in India as of March 31, 2025, 2024 and 2023 (Source: CRISIL Report).

As of March 31, 2025, the company has the largest market share of equity- focused hybrid schemes QAAUM, of 25.3% across the mutual fund sector (Source: CRISIL Report). As of March 31, 2025, its mutual fund monthly average asset under management (MAAUM) attributable to individual investors (comprising retail investors and high-net-worth people) (Individual Investors) was Rs 5,65,820 crore.

The company's revenue from operations was Rs 4,977.3 crore during FY 25 vis-à-vis Rs 2, 837.4 crore during FY 23. In FY 25, the company's net profit was Rs 2,650.6 crore compared to Rs 1,515.8 crore in FY 23.

As per the DRHP, ICICI Securities, Citigroup Global Markets India, Morgan Stanley India Company, BofA Securities India, Axis Capital, CLSA India, IIFL Capital Services, Kotak Mahindra Capital Company, Nomura Financial Advisory and Securities (India), SBI Capital Markets, Goldman Sachs (India) Securities, Avendus Capital, BNP Paribas, HDFC Bank, JM Financial, Motilal Investment Advisors, Nuvama Wealth Management and UBS Securities India are the book-running lead managers, and KFin Technologies Limited is the registrar of the offer.