ICICI Prudential AMC IPO: The initial public offering (IPO) of one of the largest asset management companies in India, ICICI Prudential Asset Management Company (AMC), is set to open for public subscription on Friday, December 12, and will remain open until Tuesday, December 16. Share allotment will likely be finalised on Wednesday, December 17, and the stock will debut on the BSE and the NSE on Friday, December 19.
The ₹10,602.65 crore book build issue is entirely an offer for sale (OFS) of up to 4,89,72,994 shares of face value of ₹1 each. This means the company will not receive the proceeds from the offer, and all the offer proceeds will be received by the promoter selling shareholder after deduction of offer-related expenses and relevant taxes thereon.
ICICI Prudential AMC IPO price band is fixed at ₹2,061 to ₹2,165 per share.
ICICI Prudential AMC GMP
The last GMP (grey market premium) of ICICI Prudential AMC shares was ₹142. This indicates ICICI Prudential AMC shares can be listed at a premium of nearly 7%.
ICICI Prudential AMC IPO: 10 key things to know from RHP
Let’s take a look at 10 key things to know from the Red Herring Prospectus (RHP) of the ICICI Prudential AMC IPO:
1. ICICI Prudential AMC IPO promoter selling shareholder
Prudential Corporation Holdings Limited is offloading up to 4,89,72,994 shares of face value of ₹1 each.
2. ICICI Prudential AMC promoters and promoter groups
ICICI Bank Limited and Prudential Corporation Holdings Limited are the two promoters of the company. ICICI Bank holds 51% of the equity shares of the company, amounting to 25,20,72,044 shares.
3. ICICI Prudential AMC management
The company’s board comprises 10 directors, including two executive directors, three nominee directors, and five independent directors, including one woman director.
Sandeep Batra, 59, is the Chairman and nominee director of ICICI Pru AMC. Nimesh Vipinbabu Shah, 55, is the Managing Director and Chief Executive Officer of the company.
4. ICICI Prudential AMC’s business
ICICI Prudential AMC s one of the oldest asset management companies in India with history of over 30 years. According to the RHP, it is the largest asset management company in India in terms of active mutual fund quarterly-average assets under management (QAAUM) with a market share of 13.3% as of September 30, 2025. As of September that date, the company’s total mutual fund QAAUM was ₹10,14,760 crore.
5. ICICI Prudential AMC’s financial performance
For FY23, the company’s profit stood at ₹1,515.78 crore, which rose to ₹2,049.73 crore in FY24 and to ₹2,650.66 crore in FY25. For the six-month period ending September 30, 2025, the company’s profit was ₹1,617.74 crore.
Total revenue from operations for FY23 was ₹2,837.35 crore, for FY24, it was ₹3,758.23 crore, and for FY25, it was ₹4,977.33 crore. For the first six months in FY26, the company’s revenue from operations was ₹2,949.38 crore.
6. ICICI Prudential AMC’s listed industry peers
HDFC Asset Management Company, Nippon Life India Asset Management Limited, UTI Asset Management Company Limited, and Aditya Birla Sun Life AMC Limited are its major listed peers.
7. ICICI Prudential AMC group companies
As per the RHP, Eastspring Investments Limited, Eastspring Investments (Singapore) Limited, Eastspring Securities Investment Trust Co., Ltd., ICICI International Limited, ICICI Lombard General Insurance Company Limited, ICICI Prudential Life Insurance Company Limited, ICICI Securities Limited, ICICI Investment Management Company Limited, and ICICI Venture Funds Management Company Limited are the group companies of ICICI Prudential AMC.
8. Mutual fund industry trends
As per the ICICI Prudential AMC IPO RHP, in terms of QAAUM, the market share of the top 10 AMCs has decreased from 82.7% as on March 2021 to 76.9% as on March 2025.
As of March 2025, there were 49 registered mutual funds in India, and as of September 2025, the number of registered Mutual funds in India increased to 54.
Passive funds are gaining popularity due to increased investor awareness, lower costs and ease of investment.
9. Key growth drivers for the mutual fund industry
Robust economic growth, under penetration of mutual funds in India, financialization of savings, increasing participation of retail investors, favourable demographics, increased awareness of investors, and easy accessibility via increased digitalisation due to mobile penetration are the key growth drivers for the mutual fund industry.
10. Increased competition from ULIPs and exchange-traded funds (ETFs) a key risk
The company highlights that insurance products such as unit-linked investment products (ULIPs), which provide dual benefits of protection and long-term savings, are competing for market share with mutual funds. Moreover, a shift towards ETFs can lead to slower overall topline growth for AMCs, as they may see a decline in AUM in actively managed funds and a corresponding increase in AUM in ETFs, said the company.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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