ICICI Prudential AMC Prepares for Landmark ₹10,000 Crore IPO With 17-Manager Syndicate

Mumbai, June 12, 2025: ICICI Prudential Asset Management Company (AMC) is advancing plans for a landmark initial public offering (IPO) in the financial services space, aiming to raise nearly ₹10,000 crore. The proposed issue positions itself as one of the year’s most substantial public offerings within India’s thriving asset management industry.

IPO Backed by 17 Lead Managers

To ensure a smooth and high-impact launch, ICICI Prudential AMC has assembled a consortium of 17 lead managers. The process began with the appointment of ICICI Securities and Citigroup, and later expanded to include major financial institutions such as Goldman Sachs, JPMorgan Chase, Morgan Stanley, Kotak Mahindra Bank, and Motilal Oswal, among others.

The IPO is expected to be structured as an offer-for-sale (OFS), meaning no new shares will be issued. While the final size is still under review, market sources suggest it may total close to ₹10,000 crore.

Ownership and Strategic Exit Plan

ICICI Prudential AMC operates as a 51:49 joint venture between ICICI Bank and Prudential Plc, a UK-based insurance firm. The public listing is part of Prudential Plc’s previously disclosed February strategy, which includes partial divestment of its stake in the Indian entity. The British parent firm has clarified that net proceeds from the OFS will be distributed to its shareholders.

Prudential Plc reaffirmed India’s relevance as a strategic growth market, reiterating its focus on long-term expansion and strengthening of its presence in the country.

IPO Season in Full Swing

ICICI Prudential AMC’s proposed IPO arrives in the middle of a particularly busy listing season. SEBI has recently cleared IPOs for Kent RO Systems, Karamtara Engineering, Vidya Wires, and Manga Electrica Industries. Combined, these offerings aim to collect around ₹2,500 crore.

As the IPO pipeline continues to surge, ICICI Prudential AMC’s offer is expected to be a headline event, drawing strong interest from both institutional and retail investors in India’s capital markets.

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