Latest news with #ICICIPrudentialAMC
Time of India
5 hours ago
- Business
- Time of India
UTI AMC, HDFC, Nippon rally up to 6% after June AMFI data, ICICI Prudential IPO plans
AMFI Data Live Events ICICI Prudential AMC IPO filing Shares of asset management companies (AMCs), including UTI AMC HDFC AMC , and Nippon Life India AMC surged up to 6% on Thursday. The rally followed the release of June mutual fund data by the Association of Mutual Funds in India ( AMFI ) and ICICI Prudential AMC 's filing for an initial public offering ( IPO ), which boosted investor sentiment across the of UTI AMC surged the most, rising 6% to hit the day's high of Rs 1,429 from the previous close of Rs 1,343, while HDFC AMC and Nippon Life India Asset Management also gained around 2% Prudential Asset Management Company, India's second-largest asset manager by assets under management, has submitted draft IPO documents to the Securities and Exchange Board of India (SEBI) on July 8, aiming to launch a public Read | Gold ETFs: 600% surge in monthly inflows to Rs 2,080 crore. Are you late to the party? According to AMFI data, the net inflows into equity mutual funds (MFs) jumped 24% to Rs 23,587 crore in June compared with inflows of Rs 19,013 crore in the 11 sub-categories of equity mutual funds, all categories except ELSS recorded inflows in June. Flexi cap funds remained investors' favourite, attracting the highest inflows of Rs 5,733 crore, compared to Rs 3,841 crore in May, marking a 49% month-on-month mutual funds witnessed outflows of Rs 1,711 crore in June, compared to Rs 15,908 crore in outflows during the previous month. Among the 16 sub-categories, eight recorded inflows, while the remaining eight saw outflowsShort-duration funds received the highest inflow of Rs 10,276 crore, followed by money market funds, which saw inflows of Rs 9,484 crore during the same period. On the outflow side, liquid funds saw the highest outflow of Rs 25,196 crore in June, compared to an inflow of Rs 40,205 crore in funds saw a 12% rise in monthly inflows, receiving Rs 23,222 crore in June, up from Rs 20,765 crore in May. Arbitrage funds attracted the highest inflow among hybrid categories at Rs 15,584 schemes, which include passive funds such as index funds and ETFs, saw a decline of 28% in monthly inflows. These funds received an inflow of Rs 3,997 crore in June against an inflow of Rs 5,525 crore in overall mutual fund inflows went up by 67% on a monthly basis to Rs 49,301 crore in June, against an inflow of Rs 29,572 crore in total assets under management (AUM) registered a growth of 3% on a monthly basis. The total mutual fund AUM stood at Rs 74.14 lakh crore in June, compared to Rs 71.93 lakh crore in Read | Equity mutual fund inflows jump 24% to Rs 23,587 crore in June: AMFI Data The proposed ICICI Prudential AMC IPO is structured entirely as an offer for sale (OFS) of 1.76 crore equity shares by Prudential Corporation Holdings, the UK-based joint venture partner. As there is no fresh issue involved, all proceeds from the offering will go directly to the selling shareholder, with ICICI Prudential AMC receiving no capital infusion from the successful, the IPO will make ICICI Prudential AMC the fifth company from the ICICI Group to be publicly listed, joining ICICI Bank, ICICI Prudential Life Insurance, ICICI Lombard General Insurance, and ICICI Securities. It will also become the fifth asset management firm to go public, following HDFC AMC, UTI AMC, Nippon Life India AMC, Aditya Birla Sun Life AMC, and Shriram IPO is being managed by an unprecedented 18 merchant bankers — the highest ever for an Indian IPO. These include global and domestic firms such as Citigroup, Morgan Stanley, BofA Securities, Axis Capital , CLSA, IIFL Capital, Kotak Mahindra Capital, Nomura, SBI Capital, ICICI Securities, Goldman Sachs, Avendus Capital, BNP Paribas JM Financial , Motilal Oswal, Nuvama Wealth, and UBS Securities India.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
5 hours ago
- Business
- Economic Times
UTI AMC, HDFC, Nippon rally up to 6% after June AMFI data, ICICI Prudential IPO plans
iStock The proposed ICICI Prudential AMC IPO is structured entirely as an offer for sale (OFS) of 1.76 crore equity shares by Prudential Corporation Holdings. Shares of asset management companies (AMCs), including UTI AMC, HDFC AMC, and Nippon Life India AMC surged up to 6% on Thursday. The rally followed the release of June mutual fund data by the Association of Mutual Funds in India (AMFI) and ICICI Prudential AMC's filing for an initial public offering (IPO), which boosted investor sentiment across the sector. Shares of UTI AMC surged the most, rising 6% to hit the day's high of Rs 1,429 from the previous close of Rs 1,343, while HDFC AMC and Nippon Life India Asset Management also gained around 2% each. ICICI Prudential Asset Management Company, India's second-largest asset manager by assets under management, has submitted draft IPO documents to the Securities and Exchange Board of India (SEBI) on July 8, aiming to launch a public offering. Also Read | Gold ETFs: 600% surge in monthly inflows to Rs 2,080 crore. Are you late to the party?According to AMFI data, the net inflows into equity mutual funds (MFs) jumped 24% to Rs 23,587 crore in June compared with inflows of Rs 19,013 crore in May. Among the 11 sub-categories of equity mutual funds, all categories except ELSS recorded inflows in June. Flexi cap funds remained investors' favourite, attracting the highest inflows of Rs 5,733 crore, compared to Rs 3,841 crore in May, marking a 49% month-on-month mutual funds witnessed outflows of Rs 1,711 crore in June, compared to Rs 15,908 crore in outflows during the previous month. Among the 16 sub-categories, eight recorded inflows, while the remaining eight saw outflowsShort-duration funds received the highest inflow of Rs 10,276 crore, followed by money market funds, which saw inflows of Rs 9,484 crore during the same period. On the outflow side, liquid funds saw the highest outflow of Rs 25,196 crore in June, compared to an inflow of Rs 40,205 crore in funds saw a 12% rise in monthly inflows, receiving Rs 23,222 crore in June, up from Rs 20,765 crore in May. Arbitrage funds attracted the highest inflow among hybrid categories at Rs 15,584 schemes, which include passive funds such as index funds and ETFs, saw a decline of 28% in monthly inflows. These funds received an inflow of Rs 3,997 crore in June against an inflow of Rs 5,525 crore in overall mutual fund inflows went up by 67% on a monthly basis to Rs 49,301 crore in June, against an inflow of Rs 29,572 crore in total assets under management (AUM) registered a growth of 3% on a monthly basis. The total mutual fund AUM stood at Rs 74.14 lakh crore in June, compared to Rs 71.93 lakh crore in May. Also Read | Equity mutual fund inflows jump 24% to Rs 23,587 crore in June: AMFI Data The proposed ICICI Prudential AMC IPO is structured entirely as an offer for sale (OFS) of 1.76 crore equity shares by Prudential Corporation Holdings, the UK-based joint venture partner. As there is no fresh issue involved, all proceeds from the offering will go directly to the selling shareholder, with ICICI Prudential AMC receiving no capital infusion from the successful, the IPO will make ICICI Prudential AMC the fifth company from the ICICI Group to be publicly listed, joining ICICI Bank, ICICI Prudential Life Insurance, ICICI Lombard General Insurance, and ICICI Securities. It will also become the fifth asset management firm to go public, following HDFC AMC, UTI AMC, Nippon Life India AMC, Aditya Birla Sun Life AMC, and Shriram AMC. The IPO is being managed by an unprecedented 18 merchant bankers — the highest ever for an Indian IPO. These include global and domestic firms such as Citigroup, Morgan Stanley, BofA Securities, Axis Capital, CLSA, IIFL Capital, Kotak Mahindra Capital, Nomura, SBI Capital, ICICI Securities, Goldman Sachs, Avendus Capital, BNP Paribas, HDFC Bank, JM Financial, Motilal Oswal, Nuvama Wealth, and UBS Securities India. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
14 hours ago
- Business
- Economic Times
ICICI Prudential AMC files DRHP with SEBI for Rs 10,000-crore IPO
Before the IPO, ICICI Bank will purchase up to 2% of the asset management company's fully diluted pre-IPO share capital, the disclosure said. ICICI Prudential AMC, India's second-largest mutual fund manager, has filed its DRHP with SEBI for an IPO. The IPO aims to raise funds through an offer for sale of 1.76 crore shares, representing a 10% stake by promoter Prudential. The IPO size is estimated around ₹10,000 crore. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: ICICI Prudential Asset Management Company , India's second-largest mutual fund manager by assets, filed its draft red herring prospectus (DRHP) with Sebi to raise funds through an IPO The firm is a joint venture between ICICI Bank and British insurer Prudential. In the IPO, Prudential will sell a 10% stake in the company, said ICICI Bank in an exchange IPO will solely comprise an offer for sale of 1.76 crore shares by promoter Prudential. Bankers said the size of the IPO is likely to be around ₹10,000 crore."The company has filed a Draft Red Herring Prospectus (DRHP) dated July 8, 2025, with the Securities and Exchange Board of India , BSE Ltd and National Stock Exchange of India Ltd for an initial public offering (IPO) comprising of an offer for sale (OFS) of equity shares held by Prudential Corporation Holdings Ltd (PCHL) in the company, representing upto 10% of the equity share capital of the company," said ICICI Bank's exchange disclosure. HDFC AMC is the top-listed asset management company with a market capitalisation of ₹1.09 lakh crore, followed by Nippon Life India AMC and Aditya Birla Sun Life AMC with a market value of ₹50,828 crore and ₹23,604 crore, the IPO, ICICI Bank will purchase up to 2% of the asset management company's fully diluted pre-IPO share capital, the disclosure Bank holds a 51% stake in the asset management company, while Prudential holds the remaining 49% Prudential AMC's net profit after tax rose 29.3% to ₹2,650 crore in FY 25 compared with the last fiscal year. The average AUM of ICICI Prudential Mutual Fund as on March 31 was ₹9,14,878 crore.
Indian Express
a day ago
- Business
- Indian Express
ICICI Prudential AMC files papers for Rs 10,000 crore IPO
ICICI Prudential Asset Management Company, India's second-largest asset manager, has filed draft papers with SEBI for an initial public offering (IPO) estimated at Rs 10,000 crore. The entire IPO will be an offer for sale (OFS) of up to 1.76 crore shares by its foreign joint venture partner, Prudential Corporation Holdings, which is based in the UK. Since the IPO is entirely an OFS, the proceeds will go to Prudential and not to the company itself. The shares will be offered at a face value of Rs 1 each, and the IPO will include a reservation for eligible ICICI Bank shareholders under a special quota. The offering is structured through the book-building process, with up to 50 per cent of the issue reserved for qualified institutional buyers (QIBs), at least 15 per cent for non-institutional investors (NIIs), and at least 35 per cent earmarked for retail investors, aligning with SEBI's allocation norms. The company's total mutual fund quarterly average assets under management (QAAUM) stood at Rs 8.79 lakh crore as of March 2025. Within this, it held the highest market share of 13.4 per cent in equity and equity-oriented schemes among Indian asset management companies, reflecting its dominant position in the equity segment. As of March 31, 2025, ICICI Prudential AMC managed average monthly mutual fund assets of Rs 5.66 lakh crore for individual investors, which includes both retail and high-net-worth individuals. In addition to its core mutual fund business, the company has a growing business in the alternatives space, offering portfolio management services, alternative investment fund (AIF) management, and offshore advisory services. ICICI Prudential AMC is one of the oldest players in the Indian asset management industry, with over three decades of experience. As of March 31, 2025, it managed the highest number of schemes in the mutual fund space—135 in total—comprising 42 equity and equity-oriented schemes, 20 debt schemes, 56 passive schemes, 14 domestic fund-of-fund schemes, and one each in the liquid, overnight, and arbitrage categories. On the financial front, the company reported strong growth in FY25. Revenue from operations jumped 32.4 per cent year-on-year, rising from Rs 3,758 crore in FY 2024 to Rs 4,977 crore in FY25, mainly driven by higher fee and commission income. Its profit after tax (PAT) also grew by 29.3 per cent, reaching Rs 2,651 crore in FY25 compared to Rs 2,050 crore in the previous fiscal year. With this IPO, ICICI Prudential AMC is set to join the growing list of publicly traded asset management companies in India, as it looks to further strengthen its market leadership and expand its footprint in both traditional and alternative investment spaces.
Mint
a day ago
- Business
- Mint
Upcoming IPO: ICICI Prudential AMC files DRHP for public issue, likely to raise ₹10,000 crore
ICICI Prudential AMC IPO: ICICI Prudential Asset Management Company (AMC) has filed its draft papers with the market regulator – the Securities and Exchange Board of India (SEBI) – to float an initial public offering (IPO). ICICI Prudential AMC IPO will be an offer for sale (OFS) of up to 17.7 million shares, representing nearly 10% of the paid-up capital of the company. Prudential Corporation Holdings Limited (PCHL), a subsidiary of British insurer Prudential Plc, is the only promoter selling shareholder. According to Bloomberg News, the offering could raise as much as ₹ 10,000 crore ($1.2 billion), making it the second-highest public issue of 2025, and valuing the asset manager at around $12 billion. The largest offer this year was by HDFC Bank subsidiary HDB Financial, which debuted on the Indian stock market last week, in signs of a sharp rebound in the IPO market. ICICI Prudential Asset Management Company, India's second-largest mutual fund manager by assets, is a joint venture between ICICI Bank (holding a 51% stake) and the UK-based Prudential Plc (holding a 49% stake). In February, Prudential had said it was considering listing its Indian joint venture on the bourses. Separately, ICICI Bank earlier today, July 9, informed exchanges that it has entered into an inter-se agreement with PCHL stating its intention to purchase up to 2% of the fully diluted pre-IPO share capital of the company from PCHL, prior to the consummation of the IPO. As of March 31, 2025, ICICI Prudential AMC's total mutual fund quarterly average assets under management (QAAUM) was ₹ 8,794.1 billion, with a customer base of 14.6 million. According to a Crisil report, the AMC manages the largest number of schemes in the mutual fund industry in India as of March 31, 2025, with 135 schemes comprising 42 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. Morgan Stanley India, Axis Capital, BofA Securities India, and Citigroup Global Markets India are among the book-running lead managers of the offering.
