Latest news with #SankaranNaren
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 )
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Business Standard
08-07-2025
- Business
- Business Standard
Looking for market momentum? ICICI Prudential's new fund may be the answer
In a bid to offer investors a more strategic way to ride market trends, ICICI Prudential Mutual Fund on Wednesday launched the ICICI Prudential Active Momentum Fund—an open-ended equity scheme designed to capture opportunities arising from persistent trends in stock prices and earnings. At the heart of the fund is a unique approach that blends price momentum with earnings momentum, setting it apart from traditional momentum strategies that rely solely on technical price patterns. 'We aim to approach momentum in a fundamental manner by focusing on earnings and estimates momentum, complemented by price momentum,' said Sankaran Naren, Executive Director & Chief Investment Officer, ICICI Prudential AMC. 'India's equity market is diverse, and this strategy allows the fund to flexibly move across sectors and market caps to harness emerging trends.' What Is Momentum Investing? Momentum investing is a strategy that targets stocks already on an upward trend, betting that their momentum will continue in the near term. ICICI Prudential's approach incorporates two distinct forms: Price Momentum: Focuses on stocks that are already rising in price based on technical factors and market sentiment. While effective in the short term, it can be susceptible to sudden trend reversals. Earnings Momentum: Selects stocks with rising earnings estimates or improving analyst ratings—suggesting that the upward trend is supported by improving fundamentals. This is considered more sustainable over time. How the Fund Identifies Momentum The fund uses a hybrid strategy—combining top-down macroeconomic views (sector, policy, interest rate trends) and bottom-up stock analysis (earnings revisions, margins, operational metrics) to identify opportunities. Example: The IT sector historically showed strong stock performance that tracked earnings growth. Similarly, NBFCs showed price volatility based on interest rate cycles—highlighting how macro and micro trends influence momentum. Why Consider This Fund? ICICI Prudential Active Momentum Fund offers flexibility on multiple levels: Moves across sectors – Captures trends wherever they emerge, from tech to industrials. Adaptable investment style – Automatically pivots between growth, value, or quality depending on what's leading the market. Cross-market cap flexibility – Momentum can occur in large-cap, mid-cap, or small-cap stocks, and this fund is built to chase those trends. Dual analysis model – Combines top-down macro insights and bottom-up stock selection for diversified exposure. Key Details : · Name of Scheme: ICICI Prudential Active Momentum Fund · Type: An open ended equity scheme following momentum theme · Benchmark Index: Nifty 500 TRI · Minimum Application Amount: ₹5,000 (plus in multiples of Re. 1) · Minimum Additional Investment: ₹1,000 (plus in multiples of Re. 1) · Exit Load: 1% of applicable NAV for redemptions within 12 months; Nil thereafter · Fund Managers: Ms. Manasvi Shah and Ms. Sharmila D'silva (overseas investments) The Active Momentum Fund's focus on sustainable trends driven by real earnings growth, coupled with the ability to move dynamically across styles and sectors, aims to give investors the edge they need to stay ahead of the curve. As always, potential investors should assess their risk appetite and investment horizon before making any decisions.
Time of India
30-06-2025
- Business
- Time of India
Stick to large-caps, disciplined asset allocation: 4 top mutual fund managers reveal how investors can navigate on-going stock market volatility, global uncertainty
Sankaran Naren,ED & CIO, ICICI Prudential AMC Academy Empower your mind, elevate your skills Nilesh Shah,MD, Kotak Mahindra AMC Nimesh Chandan,CIO, Bajaj Finserv AMC Chirag Mehta,CIO, Quantum AMC India is not at the epicentre of the current geopolitical tensions, so the direct impact has been relatively limited. Of course, if tensions were to spike significantly—particularly if crude oil prices were to surge—it could have a negative effect on our markets. So far, we have seen crude prices spike and then cool off. Our overall investment framework over the past 20 months has focused around diversification and asset allocation. This has worked well in volatile market conditions, and we haven't found the need to change our basic core are currently in a moderate return environment across asset classes. Initially, we thought that gold and silver had significant return potential—and they have delivered strong returns. But looking ahead, we find it difficult to identify any one asset class that could deliver outsized returns. Even Indian equities, which did outperform earlier, are now delivering more moderate returns, in line with our expectations from a couple of years ago. At present, it is challenging to pinpoint any one asset class with big return potential in the near is the time to take a balanced approach. Instead of concentrating only on high-risk areas, investors should consider large-cap or flexi-cap strategies, and maintain a sound asset allocation plan. Expectations also need to be realigned— from the high returns seen between 2020 and 2024, to more moderate returns going forward. That's why we are strong proponents of hybrid strategies and also believe in SIP investing in flexi- and large-cap oriented tensions add volatility , but many stocks offer a margin of safety via strong growth and reasonable valuations. Ignore the noise and focus on the fundamentals. There are events happening in geopolitics at a rapid pace and accelerated scale which are unpredictable. There is no way we can position our portfolio for every global event. We can only respond to such an event. Our focus is on long term outlook. We focus on building portfolios of companies which are growing faster and which are available on reasonable conviction in consumer discretionary, driven by tax rebates, lower EMI burdens, and the Eighth Pay Commission . Also, we are favouring stocks which can deliver above-expectation growth at reasonable to disciplined asset allocation: buy cheap, sell expensive. At the current stage, we prefer large-cap equities at fair value, Gilts with over 7% yield for carry or performing credit AIFs, and gold in precious metal. More importantly we expect moderate returns in all asset classes over two to three things stand today, we are not worried about any significant negative impact of the Middle-east tensions on India. The Brent Crude price, which may impact inflation and input prices for some companies, has corrected. As far as positioning is concerned, even before these events, we have been positive and overweight on domestic sectors. So we continue with the top down research starts with identifying mega trends that can impact economies, businesses and companies. We look for opportunities where the valuations have not completely discounted a particular mega trend, and we look to invest in those areas. If there is a significantly large theme which is positively impacted by mega trends, we launch a separate fund for the same. Currently, we have only two such funds: Consumption and Healthcare Sector wise we are positive on BFSI, Consumption, Industrials and Healthcare . We are bullish on Indian equity market and believe that Indian markets provide a strong case for growth and diversification to global investors. There is a diverse pool of sectors contributing to the overall profit pool thereby reducing earnings volatility. Valuations have corrected in the last one year and many pockets are attractively is a good diversification in investment portfolios. However, after a sharp run up in the last two years, a near term correction in prices cannot be ruled out. Typically, when global uncertainty reduces, demand for safe havens like gold also geopolitical events have remained region-specific or short-lived, with limited impact on India's markets. Two key metrics to watch out for are the rising crude oil prices and defence spending, which could divert funds from growth and social initiatives. Unless there's a significant rise in either, India's growth trajectory is unlikely to be are generally the flavour of the season, but India's core structural theme lies in its potential for 6.5–7% real GDP growth. This translates into rising per capita income and evolving consumption patterns that significantly benefit underpenetrated sectors. Broadly, India's long-term secular themes revolve around domestic consumption, infrastructure, and market remains one of the few where economic growth translates into strong returns. As a result, it trades at a premium to peer emerging markets. However, following some price and time correction, valuations have moderated—large caps are now near long-term averages, while mid- and small-caps still appear expensive. Our strongest convictions lie in BFSI, consumer discretionary (such as autos), and the current geopolitical uncertainty, gold remains a vital portfolio diversifier. Rising deficits and unsustainable debt—likely to worsen under Trump's policies like the 'one big beautiful bill'—are eroding confidence in the US economy. This could weaken the dollar and support gold prices.
