ICICI Prudential AMC IPO: ₹10,000 crore up for grabs
ICICI Prudential Asset Management Company is preparing to open its IPO, expected in November 2024, aiming to raise ₹10,000 crore (about $1.1 billion).
The offer is a pure sale by Prudential Corporation Holdings, with around 1.77 crore shares—so about 10% of the company will change hands.
Who stays in control and how shares are split
Even after the IPO, ICICI Bank keeps its majority stake in the company.
The share sale is managed by a big team of 18 banks led by ICICI Securities and Citigroup.
Shares are split: half go to institutional investors, 35% to retail buyers (that's everyday folks), and the rest to non-institutional investors.
What does ICICI Prudential AMC actually do?
This joint venture between ICICI Bank (51%) and Prudential Plc (49%) has grown into India's second-largest mutual fund manager.
It manages ₹8.79 lakh crore across different types of funds and reported a strong return on equity of 82.8% for FY2024.
Extra details you might care about
The IPO could expand from about 17.65 million shares up to nearly 49.43 million if a bonus issue happens (at a ratio of 1.8-for-1).
Shares will list on both BSE and NSE, making them easier to buy or sell later on.
All the money raised goes straight to Prudential Corporation Holdings—not into the company itself.