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Economic Times
09-07-2025
- Business
- Economic Times
ICICI Prudential AMC files for Rs 10,000 cr IPO; entirely an offer for sale by Prudential Corp
ICICI Prudential AMC, India's second-largest asset manager, has filed for an IPO with SEBI, aiming to raise up to Rs 10,000 crore through an offer for sale by Prudential Corporation Holdings. The IPO, managed by 18 merchant bankers, will not infuse capital into ICICI Prudential AMC, but allows Prudential PLC to divest part of its stake. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads 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. The IPO could raise up to Rs 10,000 crore ($1.2 billion), valuing the asset manager at about $12 billion, according to Bloomberg proposed 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 in 1998, ICICI Prudential AMC is a joint venture between ICICI Bank and Prudential Corporation Holdings, with ICICI Bank holding a 51% stake and the remaining 49% owned by its British of March 2025, the AMC held a 13% market share in quarterly average assets under management (QAAUM), serving a customer base of 14.6 million across India. With over three decades of experience in the asset management sector, it stands as a major player in the Indian mutual fund 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 is led by Nimesh Vipinbabu Shah as Managing Director and CEO, and Sankaran Naren as Executive Director and CIO. In FY25, the company reported a 29.3% year-on-year increase in net profit to Rs 2,650.7 crore, while revenue jumped 38.7% to Rs 4,682.8 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 marks the first time in Indian capital markets that such a large consortium of bankers has been engaged for a single Bank, in a board meeting held on June 27, approved the acquisition of an additional 2% stake in ICICI Prudential AMC. The bank noted that the move was intended to preserve its majority shareholding in the event of stock-based compensation being granted by the this year, on February 12, Prudential PLC announced its plan to partially divest its holding in ICICI Prudential AMC through a potential IPO. On the same day, ICICI Bank reaffirmed its commitment to maintaining majority control of the AMC as part of its long-term strategic vision.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
09-07-2025
- Business
- Economic Times
ICICI Prudential AMC files for IPO; entirely an offer for sale by Prudential Corp
Formed in 1998, ICICI Prudential AMC is a joint venture between ICICI Bank and Prudential Corporation Holdings. Synopsis ICICI Prudential AMC has filed draft papers with SEBI for an IPO, comprising a complete offer for sale of 1.76 crore shares by Prudential Corp. The AMC, India's second-largest by AUM, will become the fifth ICICI Group firm to go public. ADVERTISEMENT The proposed 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 issue. Formed in 1998, ICICI Prudential AMC is a joint venture between ICICI Bank and Prudential Corporation Holdings, with ICICI Bank holding a 51% stake and the remaining 49% owned by its British partner. As of March 2025, the AMC held a 13% market share in quarterly average assets under management (QAAUM), serving a customer base of 14.6 million across India. With over three decades of experience in the asset management sector, it stands as a major player in the Indian mutual fund landscape. If 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 is led by Nimesh Vipinbabu Shah as Managing Director and CEO, and Sankaran Naren as Executive Director and CIO. In FY25, the company reported a 29.3% year-on-year increase in net profit to Rs 2,650.7 crore, while revenue jumped 38.7% to Rs 4,682.8 crore. ADVERTISEMENT 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 read: Why are investors flocking to money market funds amid falling interest rates? This marks the first time in Indian capital markets that such a large consortium of bankers has been engaged for a single IPO. ADVERTISEMENT ICICI Bank, in a board meeting held on June 27, approved the acquisition of an additional 2% stake in ICICI Prudential AMC. The bank noted that the move was intended to preserve its majority shareholding in the event of stock-based compensation being granted by the this year, on February 12, Prudential PLC announced its plan to partially divest its holding in ICICI Prudential AMC through a potential IPO. On the same day, ICICI Bank reaffirmed its commitment to maintaining majority control of the AMC as part of its long-term strategic vision. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Time of India
09-07-2025
- Business
- Time of India
ICICI Prudential AMC files for IPO; entirely an offer for sale by Prudential Corp
The proposed 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 issue. Formed in 1998, ICICI Prudential AMC is a joint venture between ICICI Bank and Prudential Corporation Holdings, with ICICI Bank holding a 51% stake and the remaining 49% owned by its British partner. As of March 2025, the AMC held a 13% market share in quarterly average assets under management (QAAUM), serving a customer base of 14.6 million across India. With over three decades of experience in the asset management sector, it stands as a major player in the Indian mutual fund landscape. If 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 AMC is led by Nimesh Vipinbabu Shah as Managing Director and CEO, and Sankaran Naren as Executive Director and CIO. In FY25, the company reported a 29.3% year-on-year increase in net profit to Rs 2,650.7 crore, while revenue jumped 38.7% to Rs 4,682.8 crore. 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. Also read: Why are investors flocking to money market funds amid falling interest rates? This marks the first time in Indian capital markets that such a large consortium of bankers has been engaged for a single IPO. ICICI Bank, in a board meeting held on June 27, approved the acquisition of an additional 2% stake in ICICI Prudential AMC. The bank noted that the move was intended to preserve its majority shareholding in the event of stock-based compensation being granted by the AMC. Earlier this year, on February 12, Prudential PLC announced its plan to partially divest its holding in ICICI Prudential AMC through a potential IPO. On the same day, ICICI Bank reaffirmed its commitment to maintaining majority control of the AMC as part of its long-term strategic vision. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) ETMarkets WhatsApp channel )
