Mumbai, July 9, 2025 — ICICI Prudential Asset Management Company Ltd (ICICI AMC) has filed its Draft Red Herring Prospectus (DRHP) dated July 8, 2025, for an Initial Public Offering (IPO) comprising a pure Offer for Sale (OFS) of 1,76,52,090 equity shares by promoter Prudential Corporation Holdings Ltd. There is no fresh issue component in the IPO.
Offer Details
| Particulars | Details |
|---|---|
| Issue Type | 100% Offer for Sale (No Fresh Issue) |
| Shares Offered (OFS) | Up to 1,76,52,090 Equity Shares (Face value ₹1) |
| Selling Shareholder | Prudential Corporation Holdings Ltd (Promoter) |
| Face Value | ₹1 per share |
| Price Band & Lot Size | To be announced |
| Listing | BSE and NSE |
| SEBI Regulation | Reg 6(1), SEBI ICDR Regulations, 2018 (as amended) |
Bonus Issue Approved, Pending Regulatory and Shareholder Approvals
The company’s board has approved a bonus issue in the ratio of 1.8:1, i.e., 1.8 bonus shares for every 1 equity share held, through board resolutions dated April 12 and June 26, 2025.If the proposed bonus issue is completed before filing the Red Herring Prospectus (RHP) with the RoC, the total shares offered in the IPO may increase to up to 4,94,25,852 equity shares.
Until then, the current DRHP and OFS size of 1.76 crore shares remains effective.
Promoter Shareholding Structure
| Shareholder | Pre-Offer Holding | No. of Shares | % of Equity |
|---|---|---|---|
| ICICI Bank Ltd (Promoter) | 90,025,730 | 51.0% | |
| Prudential Corp Holdings Ltd (OFS) | 86,495,170 | 49.0% | |
| Total Paid-up Capital | 1,76,520,900 | 100% |
Reservation for ICICI Bank Shareholders
The DRHP also specifies a reservation for eligible ICICI Bank shareholders. The exact size of this reservation will not exceed 10% of the total Offer. Unsubscribed portions, if any, will be transferred to the net offer component.Use of Proceeds
As this is a pure Offer for Sale, ICICI AMC will not receive any proceeds from the IPO. All proceeds will be transferred to the selling shareholder, Prudential Corporation Holdings Ltd.Financial Performance (Standalone)
| ₹ in crore | FY25 | FY24 | FY23 |
|---|---|---|---|
| Total Income | 4,979.7 | 3,761.2 | 2,838.1 |
| Revenue from Operations | 4,977.3 | 3,758.2 | 2,837.3 |
| Profit for the Year | 2,650.7 | 2,049.7 | 1,515.7 |
| Return on Equity | 82.8% | 78.9% | 70.0% |
| Net Worth | 3,516.9 | 2,882.8 | 2,313.0 |
| Earnings Per Share (Basic/Dil.) | ₹150.2 | ₹116.1 | ₹85.9 |
AUM Leadership
As of March 31, 2025, ICICI AMC managed ₹9.43 lakh crore in QAAUM, comprising:- ₹4.88 lakh crore in equity and equity-oriented schemes (55.5% share),
- ₹1.72 lakh crore in debt schemes,
- ₹1.24 lakh crore in ETFs and Index funds,
- ₹70,000 crore in liquid/overnight schemes,
- ₹63,870 crore in alternatives including PMS, AIFs, and advisory.
Dividend History
| FY | Dividend Paid (₹ Cr) | Payout Ratio |
|---|---|---|
| FY23 | ₹1,279.8 | 84.4% |
| FY24 | ₹1,556.9 | 76.0% |
| FY25 | ₹2,153.6 | 81.2% |
About the Company
ICICI Prudential Asset Management Company Ltd is the investment manager to ICICI Prudential Mutual Fund, a joint venture between ICICI Bank Ltd and Prudential Corporation Holdings Ltd. Incorporated in 1993, it is the largest active mutual fund manager in India, offering a comprehensive product mix across mutual funds, portfolio management services (PMS), alternative investment funds (AIFs), and offshore advisory.The equity shares are proposed to be listed on BSE and NSE, with the designated stock exchange to be confirmed in the RHP.
Next Steps: The price band, minimum bid lot, anchor bidding date, and public subscription window will be announced upon SEBI approval.
This IPO positions ICICI AMC as the first mutual fund AMC IPO since 2021, following SBI MF and UTI MF.