ICICI Prudential AMC Files for Mega IPO

Mumbai: In a bold move that underscores its growth ambitions, ICICI Prudential Asset Management Company Ltd has submitted its Draft Red Herring Prospectus to SEBI, eyeing a monumental Rs 10,000 crore IPO. This offering represents 10% of the company's total equity, signaling a significant milestone in its journey since its inception in 1998.

A Legacy of Trust and Performance

As a joint venture between ICICI Bank and Prudential Corporation Holdings Limited, ICICI Prudential AMC has carved a niche for itself as the second-largest asset management company in India, boasting a 13.3% share in the industry's managed assets. Beyond mutual funds, its burgeoning alternates business, including portfolio management and advisory services, highlights its diversified approach to asset management.

IPO Details and Market Position

The IPO, structured through the book-building process, allocates shares strategically across qualified institutional buyers, non-institutional bidders, and retail individual bidders, ensuring broad participation. This move places ICICI Prudential AMC among the elite group of listed asset management companies, including HDFC Mutual Fund and SBI Mutual Fund, amidst a booming stock market and surging investor interest.

Financial Highlights and Future Prospects

With a remarkable 32.4% increase in operational revenue and a 29.3% rise in profit after tax in the fiscal year 2024-25, ICICI Prudential AMC stands on solid financial ground. Despite the competitive landscape, its strong brand reputation and the backing of ICICI Bank position it as a formidable player in the financial sector.