Steamhouse India’s ₹700 Crore IPO Via Confidential Filing Route...
03 Jul, 2025
India’s second-largest mutual fund house, ICICI Prudential Asset Management Company(AMC), is preparing to file its IPO draft papers to raise approx ₹10,000 crore from the public capital market. ICICI Prudential AMC IPO is a pure offer for sale (OFS) by the British joint venture partner Prudential Plc, which will be diluting at least a 10% stake in the company via this IPO. The company will file its papers with SEBI soon, with an expected launch date falling in the third quarter of FY26 after the regulatory approvals and market conditions.
ICICI Prudential IPO will not have any fresh issue of shares; instead all the proceeds will go to Prudential Plc to return the net proceeds to its shareholders. Even though Prudential is taking a partial exit with this IPO, it has reaffirmed India’s status as one of the important markets with significant growth prospects strategically. ICICI Bank, which holds a 51% stake in the company, has confirmed its intention to retain majority control in the company.
ICICI Prudential AMC’s IPO arrives amid a surge in listings within India’s financial services sector. The company’s assets under management (AUM) stood at over ₹9.14 trillion as of March 2025, reflecting its dominant position in a market where retail investment is booming. The firm’s diversified product portfolios spanning equity, debt, hybrid, and alternative schemes cater to over 11 million investors.
The ICICI Prudential AMC IPO will be a pure offer for sale (OFS) which means there will be no fresh issue in the IPO and the company will receive nothing from the IPO proceeds. The entire IPO proceeds, which are expected to be around ₹10,000 crore, will go to Prudential Plc which is the major selling shareholder and the UK-based joint venture in the company. This means the funds raised will not be used for business expansion, debt repayment or operational needs of ICICI Prudential AMC.
ICICI Prudential AMC IPO has a syndicate of 17 big investment banks that includes global giants like Citigroup, Goldman Sachs and Morgan Stanley along with domestic leaders such as Kotak Mahindra and ICICI Securities. The kind of syndication ICICI Prudential AMC has made shows the future scaling and complexity of the IPO as well as the company's intent to attract both domestic and international investors.
ICICI Prudential AMC’s IPO is not just for capital raising but it represents a strategic realignment for one of India’s most trusted financial brands. The IPO is backed by a $12 billion valuation and a record syndicate of global and domestic banks, positioning the company to capitalize on India's asset management boom. The IPO is supposed to enhance transparency, governance and market visibility while providing the financial flexibility required for the company's future growth and innovation.
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