he Securities and Exchange Board of India (SEBI) has approved the IPO of ICICI Prudential Asset Management Company, India’s second-largest asset manager. The ₹10,000 crore offer is an offer-for-sale by UK-based Prudential Plc, targeting a valuation exceeding ₹1 trillion, signaling strong investor interest in India’s growing mutual fund sector.
ICICI Prudential Asset Management Company has received regulatory clearance from SEBI to proceed with its initial public offering (IPO), estimated at around ₹10,000 crore. The IPO is a pure offer-for-sale (OFS) by Prudential Corporation Holdings, which owns 49% of the AMC. ICICI Bank remains the majority shareholder with a 51% stake.
This public listing marks a key milestone for both ICICI Prudential AMC and the broader Indian mutual fund industry. The AMC’s assets under management (AUM) have surged to nearly ₹75 trillion, benefiting from robust SIP inflows and growing investor participation. The issue will likely launch in the second half of December, with listing anticipated by mid-December.
The IPO involves a large syndicate of 17 investment banks, including Citibank, ICICI Securities, Morgan Stanley, and Goldman Sachs. At a valuation above ₹1 trillion, the listing will be one of the largest in India’s financial services sector, unlocking significant value for Prudential’s long-held stake since 1998.
Key Highlights
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SEBI approved ICICI Prudential AMC IPO estimated at ₹10,000 crore.
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IPO is a 100% offer-for-sale by UK-based Prudential Plc.
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ICICI Bank holds 51%, Prudential holds 49% pre-listing.
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AMC’s AUM nearly ₹75 trillion, driven by SIP growth and mutual fund popularity.
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IPO managed by 17 investment banks; listing expected by mid-December.
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Valuation surpasses ₹1 trillion, marking one of the largest financial sector IPOs.
Sources: Angel One, Moneycontrol, Business Standard