ICICI Prudential AMC Files for $1.2 Billion IPO

ICICI Prudential Asset Management Company, India's second-largest mutual fund house, has filed draft papers with SEBI for an initial public offering (IPO) that could raise up to ₹10,000 crore ($1.2 billion), valuing the company at around $12 billion. The IPO is structured entirely as an offer for sale of up to 1.77 crore shares, representing about 10% of the company's equity, with all proceeds going to Prudential Corporation Holdings. ICICI Bank holds a 51% stake in the joint venture while Prudential owns 49%. As of March 2025, ICICI Prudential AMC holds a 13% market share in quarterly average assets under management and serves 14.6 million customers across India. The company reported a 29.3% rise in net profit and a 38.7% increase in revenue for FY25. If successful, this IPO would make ICICI Prudential AMC the fifth ICICI Group company and the fifth Indian asset management firm to be publicly listed.