This is a pure offer for sale by Prudential Corporation Holdings, meaning ICICI Prudential AMC itself will not receive any funds from the IPO. The company is offering 4.90 crore equity shares, which translates to roughly 9.9% of its paid-up equity, with the estimated issue value at the upper end coming to about Rs 10,600 crore. The price band has been fixed at Rs 2,061 to Rs 2,165 per share.
Investors will be able to bid in a minimum lot of six shares, with the final ticket size dependent on the lot confirmation in the RHP. Shares will be allocated on December 17, refunds and demat credits will be completed on December 18, and trading will begin on December 19 on both the NSE and BSE.
The quota structure follows the standard book-building pattern, with 50% reserved for qualified institutional buyers, 15% for non-institutional investors and 35% for retail investors.
Shareholders quota and cut-off data
The IPO has a dedicated shareholder quota for ICICI Bank shareholders. Around 24.5 lakh shares have been earmarked for investors who hold ICICI Bank shares as of the cut-off date mentioned in the RHP. This is expected to draw interest, as shareholder categories often see higher participation due to better allotment visibility.
Business overview
ICICI Prudential AMC enters the market as India’s second-largest asset manager by quarterly average AUM, managing Rs 10.87 lakh crore as of September 2025. The company runs more than 140 mutual fund schemes across equity, debt, hybrid, passive and solution-oriented products.
It also operates PMS and ETF businesses, catering to a diverse investor base of 1.5 crore individuals. The AMC is a joint venture between ICICI Bank and Prudential Corporation of the UK. After the sale, ICICI Bank will retain 51% ownership, while Prudential’s stake will fall from 49% to nearly 39%.The company’s financial performance shows strong momentum. Revenue grew 32% in FY25 compared with the previous year, while profit after tax rose 29% to Rs 2,650.66 crore. As of September 2025, ICICI Prudential AMC reported half-year revenue of Rs 2,949.61 crore and profit of Rs 1,617.74 crore.
Its asset base also expanded sharply, rising to Rs 4,827.34 crore by September. The increase in profitability reflects operating leverage in the asset management business, where rising AUM and higher equity participation improve margins.
The industry backdrop remains favourable. With the financialisation of household savings accelerating, mutual funds continue to gain acceptance across urban and semi-urban India. ICICI Prudential AMC enjoys leadership in active equity AUM, and its wide product suite positions it to capture the next leg of growth in ETFs, asset allocation products, and long-term SIP flows.
The business carries high operating margins and low capital requirements, features that typically attract long-term investors.
