ICICI Prudential AMC IPO opens Dec 12: 5 key strengths investors must know

ICICI Prudential IPO will be offered at a price band of ₹2,061 to ₹2,165 per share, with a lot size of 6 shares

ICICI Prudential AMC IPO: ICICI Prudential AMC, an asset management company, is set to launch its initial public offering (IPO) on Friday, December 12, 2025. The public issue comprises an offer for sale (OFS) of 49 million shares by Prudential Corporation Holding for ₹10,602.65 crore.

 

ICICI Prudential IPO will be offered at a price band of ₹2,061 to ₹2,165 per share. The minimum application size has been set at 6 shares per lot. The issue will remain open for subscription till Tuesday, December 16, 2025. The company’s shares are tentatively scheduled to make their D-Street debut on Friday, December 19, 2025.

 

Kfin Technologies is the registrar for the issue. Citigroup Global Markets India, ICICI Securities, Morgan Stanley India Company, Goldman Sachs (India) Securities, BofA Securities India, Avendus Capital, Axis Capital, BNP Paribas, CLSA India, HDFC Bank, IIFL Capital Services, JM Financial, Kotak Mahindra Capital Company, Motilal Oswal Investment Advisors, Nomura Financial Advisory and Securities (India), Nuvama Wealth Management, SBI Capital Markets, and UBS Securities India are the book-running lead managers. 

 

According to the red herring prospectus (RHP), the company will not receive any fresh funds from the issue, and existing shareholders will sell their stake through the offer.

Here are the key strengths of ICICI Prudential AMC:

Leading AMC: According to the RHP, ICICI Prudential is the largest AMC in India based on assets managed under active mutual fund schemes, including equity and equity-oriented schemes. As of 30 September 2025, the company held a 13.3 per cent share of active mutual fund QAAUM. On an overall QAAUM basis, it was ranked as the second-largest AMC in India, with a market share of 13.2 per cent as of the same date.

 

India’s largest individual investor franchise: The company holds the largest Individual Investor franchise in India based on mutual fund assets under management. As of 30 September 2025, her mutual fund MAAUM attributable to Individual Investors stood at ₹6,610.3 billion, representing the highest Individual Investor MAAUM in the Indian mutual fund sector, with a market share of 13.7 per cent. Individual Investors contributed 61.1 per cent of its total mutual fund MAAUM, and accounted for 85.7 per cent of the MAAUM of the equity and equity-oriented schemes as of 30 September 2025.

 

Diversified distribution network: The company operates an extensive, geographically diversified pan-India distribution network, comprising 272 offices across 23 states and four union territories. Its multi-channel model spans both physical and digital platforms. As of 30 September 2025, its network included 1,10,719 institutional and individual MFDs, 213 national distributors and 67 banks (including ICICI Bank). It also leverages the wide distribution reach of ICICI Bank, one of its Promoters and a registered MFD.

 

Consistent profitable growth: ICICI Prudential was the most profitable AMC in India in terms of operating profit before tax (PAT), with a market share of 20.0 per cent for FY25. Its total AAUM, operating revenue and PAT grew at a CAGR of 32.7 per cent, 32 per cent, and 32.2 per cent between FY23 and FY25, respectively. The company’s high-equity AUM mix has supported strong operating margins and capital efficiency, with a return on equity of 82.8 per cent for FY25. 

 

Experienced leadership team: As per the RHP, the company's senior management and Key Managerial Personnel (KMP) have an average tenure of over 11 years with the company and an average work experience of 25 years. Nimesh Shah, managing director and chief executive officer,  has been with the company for more than 18 years and brings over 32 years of experience in financial services, while the executive director and chief investment officer, Sankaran Naren, has over 20 years with the company and more than 30 years in the industry. Anand Shah, chief investment officer for PMS and AIF investments, has 25 years of experience and was appointed Principal Officer for PMS on 30 April 2025.