ICICI Prudential Asset Management Company (AMC), India’s second-largest mutual fund house, has received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). The company is aiming for a valuation of $12–12.5 billion, making it one of the biggest listings from the financial sector in recent years.
The IPO will be a complete offer-for-sale (OFS) by its UK-based shareholder, Prudential Corporation Holdings (PCHL). Prudential plans to sell around 10% of its stake, equal to about 1.76 crore shares. Since it is a pure OFS, the company will not issue new shares, and all proceeds will go directly to the selling shareholder. ICICI Bank, which currently owns 51% of the AMC, has also proposed buying an additional 2% stake from Prudential before the IPO to maintain its majority shareholding.
ICICI Prudential AMC manages assets worth over ₹10.6 lakh crore and serves more than 1.5 crore investors. It has a strong presence across equity, debt and passive funds, and holds a market share of about 13% as of March 2025. The AMC is considered one of the most trusted fund houses in the country, backed by the ICICI brand and its long operational track record.
Once listed, ICICI Prudential AMC will become the fifth ICICI Group company to debut on the stock market, joining ICICI Bank, ICICI Prudential Life Insurance, ICICI Lombard General Insurance and ICICI Securities. The public issue is expected to attract strong interest from institutional and retail investors due to the company’s scale, profitability and established market position.
The IPO is likely to hit the market soon, making it one of the major offerings to watch in India’s financial markets this year.
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