ICICI Prudential AMC Files IPO for ₹17.65 Crore OFS by Prudential Holdings; Bonus Issue Likely Before Listing
By Shishta Dutta | Updated at: Jul 10, 2025 11:24 AM IST
Mumbai, July 9, 2025 — ICICI Prudential Asset Management Company Limited (ICICI AMC) has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an initial public offering (IPO) consisting solely of an offer for sale (OFS) by promoter Prudential Corporation Holdings Limited. The proposed OFS comprises up to 1.76 crore equity shares, with no fresh issue component, and may expand to 4.94 crore shares post a bonus issue approval.
Key Offer Details
ICICI AMC has filed its DRHP for an IPO of 100% Offer for Sale (OFS), with no fresh issue of shares. Promoter Prudential Corporation Holdings Ltd will offload up to 4.94 crore equity shares (post-bonus). The issue reserves up to 10% for eligible ICICI Bank shareholders. The shares, with a face value of ₹1 each, will be listed on both BSE and NSE. The price band is yet to be announced. ICICI Bank holds 51% stake in the company, while Prudential Corp owns the remaining 49%.
| Particulars | Details |
|---|---|
| Type of Issue | 100% Offer for Sale (No Fresh Issue) |
| Selling Shareholder | Prudential Corporation Holdings Limited (Promoter) |
| Shares Offered (Pre-Bonus) | Up to 1,76,52,090 Equity Shares |
| Shares Offered (Post-Bonus) | Up to 4,94,25,852 Equity Shares |
| Face Value | ₹1 per equity share |
| Price Band | To be disclosed |
| Reservation | Up to 10% for eligible ICICI Bank shareholders |
| Promoters | ICICI Bank Ltd (51%), Prudential Corp Holdings (49%) |
| Listing | BSE and NSE |
Bonus Issue Ahead of IPO
ICICI AMC’s board has approved a bonus issue in the ratio of 1.8:1, increasing paid-up share capital from 17.65 crore shares to 49.42 crore shares. If regulatory approvals and shareholder nod are secured before filing the Red Herring Prospectus, the revised share count will apply to the IPO.
Shareholding Pre and Post Offer (Illustrative)
| Shareholder | Pre-Offer Holding (%) | Post-Offer Holding (Assuming Bonus + Full OFS) |
|---|---|---|
| ICICI Bank Ltd | 51.0% | 51.0% (Unchanged) |
| Prudential Corp Holdings (OFS Seller) | 49.0% | 39.0% (After reducing 10% stake) |
Financial Highlights (FY25)
| Metric | FY25 | FY24 | YoY Growth |
|---|---|---|---|
| Total Income | ₹4,979.7 Cr | ₹3,761.2 Cr | 32.4% |
| Profit After Tax | ₹2,650.7 Cr | ₹2,049.7 Cr | 29.3% |
| Operating Profit Before Tax | ₹3,236.1 Cr | ₹2,312.8 Cr | 39.9% |
| Return on Equity | 82.8% | 78.9% | — |
| Net Worth | ₹3,516.9 Cr | ₹2,882.8 Cr | — |
Source: Restated Financial Statements, DRHP.
Strategic Position
ICICI AMC is India’s largest active asset manager with ₹9.43 lakh crore in quarterly average AUM (QAAUM) as of March 31, 2025. Its mutual fund business spans equity, debt, ETFs, and arbitrage, complemented by portfolio management services, AIFs, and offshore advisory.
Market Share (Active MF QAAUM): 13.3% as of Q4 FY25.
Offer Allocation
As per SEBI ICDR norms, the Net Offer will be allocated as follows:
- 50% to Qualified Institutional Buyers (QIBs)
- 15% to Non-Institutional Bidders (NIBs)
- 35% to Retail Individual Investors (RIIs)
- Up to 10% reserved for ICICI Bank shareholders
Anchor investors may be allotted up to 60% of the QIB quota.
Management Commentary
Nimesh Shah, MD & CEO of ICICI AMC, is at the helm alongside CIO Sankaran Naren. The company emphasises product innovation, digital reach, and long-term investing to retain market leadership.
Use of Proceeds
As this is a pure OFS, ICICI AMC will not receive any proceeds from the IPO. All proceeds will go to the selling shareholder, Prudential Corporation Holdings.
About ICICI Prudential AMC
ICICI Prudential Asset Management Company Ltd is a joint venture between ICICI Bank (51%) and UK-based Prudential Plc (49%). It is the largest active mutual fund manager in India, managing a diverse portfolio across equity, debt, and alternate investment classes. The company is registered with SEBI and regulated under the SEBI Mutual Fund Regulations.
Next Steps
Price band, offer dates, and lot size to be announced after SEBI approval. The Red Herring Prospectus filing will follow the proposed bonus issue.
Stay tuned for updates on anchor allocation and bidding schedule.
REF: https://www.bseindia.com/corporates/download/340723/IPO Prior/IPAMCDRHP_20250708222023.pdf
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