ICICI Prudential AMC IPO Opens December 12 With a Pure OFS, Listing Scheduled for December 19

ICICI Prudential AMC Sets Stage for Market Debut as IPO Opens on December 12 With Pure OFS Structure

ICICI Prudential Asset Management Company, India’s second-largest AMC, is preparing to make its much-anticipated debut on Dalal Street with an initial public offering (IPO) scheduled to open on December 12. The company has filed its Red Herring Prospectus (RHP) and outlined a timeline that positions the listing among the most significant financial-sector IPOs of the year.

The issue will be entirely an offer-for-sale (OFS) of 4.89 crore equity shares, representing 9.9% of the company’s paid-up equity, to be offloaded by Prudential Corporation Holdings, the UK-based joint venture partner of ICICI Bank. With no fresh issue component, the AMC will not receive IPO proceeds; instead, all funds will go to the selling shareholder.

Reports indicate that ICICI Prudential AMC may raise around ₹10,000 crore, although the exact offer size will be finalised closer to the opening date.

A Detailed Look at the IPO Schedule: Anchor Book on Dec 11, Listing on Dec 19

The AMC has laid out a clear and investor-friendly IPO timeline. The anchorbook will open for a single day on December 11, providing institutional investors early access to the offering. The public issue will remain open from December 12 to December 16, followed by allotment finalisation on December 17.

The IPO shares are scheduled to list on the BSE and NSE on December 19, making ICICI Prudential AMC the fourth ICICI Group company to trade publicly after ICICI Bank, ICICI Prudential Life Insurance, and ICICI Lombard General Insurance.

Additionally, the company has reserved 24.48 lakh equity shares exclusively for shareholders of ICICI Bank, a move likely to attract existing investors within the group ecosystem.

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A Joint Venture Legacy: ICICI Bank and Prudential’s 26-Year Partnership

Established in 1998, ICICI Prudential AMC operates as a joint venture between ICICI Bank (51%) and Prudential Corporation Holdings (49%). Over nearly three decades, the firm has emerged as a leading player in India’s rapidly expanding asset management landscape.

The decision to go public aligns with the group’s broader strategy of unlocking value across verticals while offering investors exposure to India’s growing mutual fund industry.

Strong Financial Performance Reinforces Investor Confidence Ahead of IPO

ICICI Prudential AMC enters the public markets on the back of robust financial growth. For the six months ended September 2025, the company reported:

• Revenue: ₹2,949.4 crore (up 20% YoY)

• Profit: ₹1,618 crore (up 21.9% YoY)

For FY25, the AMC delivered:

• Profit: ₹2,650.7 crore (up 29.3% from ₹2,049.7 crore in FY24)

• Revenue: ₹4,977.3 crore (up 32.4% from ₹3,758.2 crore)

Such strong growth metrics, combined with a rising investor base and expanding mutual fund participation in India, underscore the company’s stability and earnings potential.

India’s Second-Largest AMC With 13.2% QAAUM Market Share and the Widest Scheme Portfolio

ICICI Prudential AMC claims to hold the position of the second largest asset management company in India, with a 13.2% market share based on quarterly average assets under management (QAAUM).

Notably, the AMC manages 143 mutual fund schemes, the highest number of schemes handled by any Indian fund house. This strengthens its competitive presence among other listed peers, including HDFC AMC, Nippon Life India AMC, UTI AMC, and Aditya Birla Sun Life AMC.

Its broad product mix across equity, debt, hybrid, passive, and alternative categories highlights a strong diversification strategy, further reinforcing its appeal for long-term investors.

A Massive Consortium of 18 Merchant Bankers to Steer the IPO

Reflecting the scale and significance of ICICI Prudential AMC’s market debut, 18 merchant bankers have been appointed to manage the IPO.
The joint effort includes leading global and Indian investment banks such as:

• Citigroup, Morgan Stanley, BofA Securities,

• Axis Capital, CLSA, Kotak Mahindra Capital, IIFL Capital Services,

• Nomura, SBI Capital Markets, ICICI Securities, Goldman Sachs,

• Avendus Capital, BNP Paribas, HDFC Bank, JM Financial,

• Motilal Oswal Investment Advisors, Nuvama Wealth Management, and UBS Securities India

The extensive banking lineup demonstrates the anticipated institutional interest and the strategic importance of the AMC’s listing in India’s capital markets.

ICICI Prudential AMC IPO Set to Elevate the AMC Landscape With a Landmark Listing

As ICICI Prudential AMC approaches its December 12 IPO opening, the offering stands out for its scale, timing, and robust fundamentals. With a pure OFS structure, strong profitability, deep market penetration, and a longstanding JV heritage, the company’s entry into the public markets marks a milestone for India’s mutual fund industry.

With listing scheduled for December 19, investors will soon have the opportunity to participate in one of India’s most established asset managers—backed by a diversified portfolio, proven financial strength, and trusted ICICI Group lineage.

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