ICICI Prudential AMC Files DRHP With SEBI To Launch an IPO

ICICI Prudential Asset Management Company (AMC), one of the largest AMCs in India, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).

IPO Structure and Details

• The proposed issue is a pure offer for sale (OFS), with British partner Prudential Corporation Holdings Ltd., which holds a 10% stake in the company, planning to offload up to 1,76,52,090 shares. It will be a 100% Offer for Sale (OFS), meaning no fresh equity shares will be issued. 
• Book-running lead managers for the IPO are Citigroup Global Markets India Private Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited, Axis Capital Limited, CLSA India Private Limited, IIFL Capital Services Limited, Kotak Mahindra Capital Company Limited, Nomura Financial Advisory and Securities (India) Private Limited, and SBI Capital Markets Limited. 
• KFin Technologies Limited is the registrar for the issue. 

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Utilisation of Funds

The company will not receive any proceeds from the OFS component, and it will be transferred to the selling shareholder, i.e., Prudential Corporation Holdings Ltd.

Financial Performance

The company’s revenue from operations grew by 32.4% to ₹4,977.3 crore in FY25, up from ₹3,758.2 crore in FY24. Profit for the year ended March 31, 2025, stood at 2,650.66 crores. 

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Company Profile

ICICI Prudential is the largest asset management company in India (in terms of active mutual fund quarterly average assets under management) with a market share of 13.3%. 

As of March 31, 2025, the company’s total mutual fund QAAUM was ₹8,794.1 billion. The AMC serves over 1.48 Cr+ investors with 135 MF schemes across Equity and Equity Oriented Schemes, 20 debt schemes, 56 passive schemes, 14 fund-of-fund domestic schemes, one liquid scheme, one overnight scheme, and one arbitrage scheme. 

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