ICICI Prudential AMC’s Rs 10,700 crore IPO will start next week

ICICI Prudential Asset Management Company, India’s most profitable AMC and the largest by active assets under management (AUM), plans to launch its initial public offering worth Rs 10,700 crore next week, according to sources familiar with the matter.In the IPO, which is likely to value the fund house at Rs 107,000 crore, UK-based Prudential will sell a 10% stake. The IPO is entirely an offer for sale (OFS) and is likely to open for public subscription next week.

According to sources, the company will announce its price range on December 8 after final discussions.ICICI Prudential AMC is a joint venture between ICICI Bank and Prudential Corporation Holdings Limited, in operation since 1998. ICICI Bank owns 51% of the joint venture, while Prudential owns the rest.

The company is the largest asset manager in India in terms of active quarterly average assets under management (QAAUM) of mutual funds, with a market share of 13.3% as of March this year. The total QAAUM stood at Rs 8.8 lakh crore at the end of FY25.

According to a CRISIL report, the company had the highest market share in equity and equity oriented schemes QAAUM at 13.4% of all asset managers in India. The equity-oriented hybrid schemes also had the largest market share in India. Its profit after tax has grown at a CAGR of 32.2% from FY23-25 ​​to Rs 2,650.6 crore and is the most profitable AMC in India in terms of operating profit before tax, which has grown at an impressive CAGR of 32% to Rs 3,240 crore over the last three years. Last week, market regulator Sebi had approved the IPO.

ICICI Prudential AMC IPO would be the fourth Rs 10,000-crore-plus issue in India to be launched this calendar year, after HDB Financial (Rs 12,500 crore), Tata Capital (Rs 15,512 crore) and LG Electronics (Rs 11,605 crore).

Till November, India has seen 93 motherboard IPOs – the largest number of primary market issuances since 2007. So far this year, IPOs worth around Rs 1.54 lakh crore have hit Dalal Street and are on track to beat last year’s record of Rs 1.6 lakh crore, according to Prime Database.