ICICI Prudential Asset Management Company has received SEBI approval for its IPO, aiming to raise $1.2-$1.25 billion through an Offer for Sale at a valuation of $12-$12.5 billion. The IPO launch is scheduled for the second week of December 2025.
ICICI Prudential AMC, India’s second-largest asset management company by assets under management, has secured regulatory clearance from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO). The IPO will be a pure Offer for Sale (OFS) by the joint venture partner Prudential Plc, which plans to divest a 10% stake.
The company targets a market valuation between $12 billion (approx. Rs 1.07 lakh crore) and $12.5 billion (approx. Rs 1.11 lakh crore). The issue size is expected to be between $1.2 billion and $1.25 billion, making it one of the largest IPOs in India this year.
The IPO, slated for launch by mid-December and likely to be listed by December 19, 2025, marks ICICI Group’s fifth major listing, following ICICI Bank, ICICI Prudential Life Insurance, ICICI Lombard, and ICICI Securities. ICICI Bank will retain its majority stake post-IPO, confirming ongoing strategic commitment.
With a robust distribution network and a customer base exceeding 14 million, ICICI Prudential AMC stands poised to leverage growing mutual fund penetration in India.
Key Highlights
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SEBI approval obtained for ICICI Prudential AMC IPO at $12-$12.5 billion valuation
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IPO is a pure Offer for Sale by Prudential Plc, divesting 10% stake
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Expected issue size: $1.2-$1.25 billion, launch planned in second week of December
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Fifth listing in ICICI Group’s ecosystem, post ICICI Bank, ICICI Prudential Life, Lombard, and Securities
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ICICI Bank retains majority ownership, ensuring strategic control
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Robust AMC operations with over 14 million customers and diverse product suite
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Anticipated to be one of India’s largest IPOs in 2025 by issue size
Source: Moneycontrol, Reuters, Angel One, Chittorgarh.com