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Mint
09-07-2025
- 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.
News18
09-07-2025
- Business
- News18
ICICI Prudential AMC Files For IPO; Prudential To Offload 10% Stake Worth Up To Rs 10,000 Crore
Last Updated: The ICICI Prudential IPO will be entirely an offer for sale (OFS) of up to 17.7 million shares — amounting to nearly 10% of the company's paid-up share capital. ICICI Prudential Asset Management Company (AMC), India's second-largest mutual fund manager by assets, has filed draft papers with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO). The public issue will be entirely an offer for sale (OFS) of up to 17.7 million shares — amounting to nearly 10% of the company's paid-up share capital. The sole selling shareholder in this IPO is Prudential Corporation Holdings Limited (PCHL), a subsidiary of UK-based insurance major Prudential Plc. The move follows Prudential's earlier announcement in February about its intent to list the Indian joint venture on the domestic bourses. According to Bloomberg News, the IPO could fetch as much as Rs 10,000 crore ($1.2 billion), potentially making it the second-largest public issue of 2025. The offering is expected to value ICICI Prudential AMC at around $12 billion. The largest IPO so far this year was that of HDB Financial Services, a subsidiary of HDFC Bank, which listed just last week—highlighting renewed investor interest and a buoyant primary market. ICICI Bank to Raise Stake in JV Pre-IPO ICICI Bank, which currently owns 51% in the AMC, has also informed stock exchanges that it plans to acquire an additional 2% stake in the company from Prudential before the IPO. The transaction will be carried out under an inter-se agreement between ICICI Bank and PCHL, further strengthening ICICI Bank's control in the joint venture. Robust Growth and Market Leadership As of March 31, 2025, ICICI Prudential AMC managed assets worth Rs 8.79 lakh crore in terms of quarterly average AUM (QAAUM) and served a customer base of 14.6 million investors. A Crisil report states that the AMC operates the highest number of mutual fund schemes in India — 135 in total — including 42 equity-oriented schemes, 20 debt schemes, 56 passive strategies, 14 domestic fund-of-funds, one liquid fund, one overnight scheme, and one arbitrage fund. The IPO will be managed by some of the world's leading investment banks and domestic players. Morgan Stanley India, Axis Capital, BofA Securities India, and Citigroup Global Markets India have been appointed as book-running lead managers to the offer. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
India Today
09-07-2025
- Business
- India Today
ICICI Prudential Asset Management files for IPO. Check offer details
ICICI Prudential Asset Management Company, the country's second-largest mutual fund house by assets, has filed draft papers for an initial public offering (IPO), marking a significant step towards its public IPO will be an offer for sale of up to 1.77 crore shares, representing 10% of the company's equity share capital. The shares will be sold by Prudential Corporation Holdings Limited (PCHL), a wholly-owned subsidiary of UK-based insurer Prudential AMC is a joint venture between private sector lender ICICI Bank, which holds 51%, and Prudential, which owns the remaining 49%. As part of the IPO process, PCHL has also signed an agreement to offload up to 2% of its stake to ICICI Bank ahead of the public offering. This pre-IPO transaction is separate from the shares to be sold in the offer for move follows Prudential's earlier indication in February that it was considering listing its Indian mutual fund arm. In June, Bloomberg reported that the IPO could raise as much as $1.2 billion or Rs 10,000 to the draft red herring prospectus filed on Tuesday, ICICI Prudential AMC posted a 29.3% jump in profit for the financial year ended March 31, 2025, driven by strong growth in fee and commission income, which rose 38.7%.The surge in income was attributed to an increase in the fund house's annual average assets under management (AAUM), which grew to Rs 9.01 lakh crore, up from Rs 6.46 lakh crore the previous Stanley India, Axis Capital, BofA Securities India, and Citigroup Global Markets India are among the book-running lead managers for the proposed offering.- Ends
Economic Times
09-07-2025
- Business
- Economic Times
ICICI Bank announces proposal to buy 2% additional stake in ICICI Prudential AMC ahead of IPO
ICICI Bank, in a disclosure to the stock exchanges on Wednesday, announced its plans to buy an additional 2% stake in its subsidiary ICICI Prudential Asset Management Company (AMC), ahead of the latter's initial public offering (IPO). ADVERTISEMENT ICICI Prudential AMC has submitted its Draft Red Herring Prospectus (DRHP) dated July 8, 2025, to the Securities and Exchange Board of India (SEBI), BSE, and the National Stock Exchange of India (NSE) for a proposed IPO. The offering consists of an offer for sale (OFS) of equity shares by Prudential Corporation Holdings Limited (PCHL), representing up to 10% of the Company's equity share capital. The IPO, including the size of the OFS, will be subject to market conditions, necessary approvals, and other relevant factors. Additionally, on July 8, ICICI Bank entered into an inter-se agreement with Prudential Corporation Holdings Limited (PCHL), expressing its intention to acquire up to 2% of the Company's fully diluted pre-IPO share capital from PCHL, prior to the completion of the IPO, according to the exchange proposed transaction, however, will be subject to mutual agreement on final terms, necessary corporate and statutory approvals from both parties, applicable legal provisions, and other relevant transaction will be done for a cash consideration, which will be decided at a subsequent date. ADVERTISEMENT ICICI Prudential AMC is an asset management company managing significant assets under management in the mutual fund segment and providing portfolio management services for investors spread across the country and providing investment management services to alternative investment company also provides advisory services to its clients across international markets. ICICI Bank holds a 51% stake in the same, while PCHL holds the remaining 49% stake. ADVERTISEMENT As of March 31, 2025, the AMC had total assets of Rs 43.84 billion, while the company's profit after tax (PAT) for FY 25 stood at Rs 26.51 9:55 am, the shares of ICICI Bank were trading 0.95% lower at Rs 1,428.50 on the BSE. ADVERTISEMENT Also read: Jane Street saga highlights the dangers of shampoo-style trading in markets (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)
