ICICI Prudential AMC IPO: 17.7 Million Shares Offer; ICICI Bank to Raise Stake by 2%

ICICI Prudential Asset Management Company (ICICI Prudential AMC), a joint venture between ICICI Bank and Prudential Corporation Holdings Limited (PCHL), has filed draft papers with SEBI and stock exchanges (BSE and NSE) on July 8, 2025, for its upcoming Initial Public Offering (IPO). The IPO will be through an offer for sale (OFS), where PCHL plans to offload up to 17.7 million shares, representing 10 per cent of its holding in the AMC. The final size of the IPO will be determined based on regulatory approvals and market conditions.

To retain majority control in the company, ICICI Bank has signed an agreement to acquire an additional 2 per cent stake from PCHL before the IPO. Currently, ICICI Bank holds 51 per cent, while PCHL holds 49 per cent in ICICI Prudential AMC. The share purchase, to be executed in cash, is subject to approval from the Reserve Bank of India (RBI) and other regulatory bodies. The move ensures that ICICI Bank continues to maintain control even if shares are allotted to employees post-listing.

ICICI Prudential AMC was established in 1993 and is one of India’s largest mutual fund managers. The company offers a range of financial services, including mutual funds, portfolio management, advisory services, and alternative investment funds. As of March 31, 2025, the AMC managed assets worth Rs 4,384 crore. For the financial year 2025, it reported a turnover of Rs 4,980 crore and a profit after tax (PAT) of Rs 2,651 crore, compared to a turnover of Rs 3,761 crore in FY24 and Rs 2,838 crore in FY23.

The broader market remained flat on the day of the filing. The BSE Sensex hovered around 83,680, and the NSE Nifty 50 was steady near 25,506. Investor sentiment turned cautious due to global cues, including U.S. President Donald Trump’s remarks on imposing heavy tariffs on pharmaceutical imports — a critical export sector for India and other Asian markets.

ICICI Bank’s stock traded negatively following the announcement. As of 10:34 AM IST on Wednesday, it was down 0.73 per cent at Rs 1,431.50. However, the bank’s stock has gained 15.46 per cent over the past year and 11.64 per cent on a year-to-date basis. Over the last five years, it has delivered multibagger returns of nearly 289 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.