Mumbai: India’s second-largest mutual fund house, ICICI Prudential AMC, is all set to go public with its IPO slated to open on December 12, one of the last high-profile IPOs for the year. This is a pure Offer For Sale (OFS) IPO, where UK-based insurer Prudential Corporation is looking to offload 10% of its stake in the company. The company had filed its papers in July this year, and is all set to join the IPO bandwagon.
ICICI Prudential is one of India’s oldest Asset Management Companies, with the company set up in 1998 as a joint venture between ICICI Bank and UK-based Prudential Corporation, with a shareholding ratio of 51:49. Now, Prudential aims to dilute its stake in the AMC, raising around ₹10,000 crore by selling 4.89 crore shares (just under 10 percent of the total equity).
The company cuirrently has a market share of about 13%, with a revenue of ₹2,949 crore and a profit of ₹1,618 crore for the first six months of FY25-26. The company has recorded a revenue growth of around 20% and profit growth of around 21.9% over the same period last year.
It holds the record of managing the largest number of schemes by an AMC in India, with 143 schemes, competing with other listed peers like HDFC AMC, Nippon Life India Asset Management, UTI AMC and Aditya Birla Sun LIfe AMC, besides a slew of new fund houses looking to make a mark in the highly competitive, low margin sector.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers should conduct their own research or consult with a qualified financial advisor before making any investment decisions.
