ICICI Prudential AMC sets record with 18 merchant bankers for IPO
ICICI Prudential AMC, India's second-largest mutual fund house, is planning a ₹10,000 crore IPO.
The entire offering will be a sell-off by UK-based Prudential Corporation Holdings, which owns 49% of the company and plans to offload a 10% stake.
If all goes as planned, the company could be valued at around ₹1 trillion.
Major player in the financial space
They manage investments for millions across India and hold a 13.3% market share with assets under management of ₹9.43 lakh crore (as of March 2025).
Last year, they pulled in revenues of ₹4,683 crore and net profits of ₹2,650 crore—making them a major player in the financial space.
Team of 18 merchant bankers for this IPO
This IPO has brought together an unusually large team—18 merchant bankers including Citi and Goldman Sachs (but only four will actually earn fees).
ICICI Securities will handle all the marketing.
Once listed, ICICI Prudential AMC will join peers like HDFC AMC and Nippon Life AMC as one of just five asset managers on Indian stock exchanges.