ICICI Prudential Asset Management Company (ICICI Prudential AMC), a subsidiary of ICICI Bank Limited, has filed its Draft Red Herring Prospectus (DRHP) with SEBI, BSE, and NSE for an initial public offering (IPO). The IPO will be an offer for sale (OFS) by Prudential Corporation Holdings Limited (PCHL), which currently holds a 49% stake in the AMC. The OFS will involve up to 10% of ICICI Prudential AMC’s equity capital, subject to market conditions and regulatory approvals.

Simultaneously, ICICI Bank has announced its intent to acquire up to 2% of the AMC’s equity share capital from PCHL through an inter-se agreement signed on July 8, 2025. The proposed share purchase is expected to take place before the IPO, ensuring that the Bank continues to maintain its majority 51% shareholding post any stock-based compensation granted by the AMC.

The acquisition will be executed at arm’s length for cash consideration, with final pricing and terms subject to approval and further negotiation. The Bank has stated that RBI approval will be required to complete the transaction.

ICICI Prudential AMC is one of India’s leading asset management companies, managing assets across mutual funds, portfolio management services (PMS), alternative investment funds (AIFs), and international advisory mandates. Incorporated in June 1993, the company reported robust financial performance with ₹49.80 billion in revenue and ₹26.51 billion in PAT for FY25, and continues to be a dominant player in the country’s financial services landscape.

The transaction reinforces ICICI Bank’s commitment to its asset management franchise, with the additional share purchase aimed at protecting its controlling stake as the AMC transitions to a publicly listed entity.

💬 What’s Your View?

• Will ICICI Prudential AMC’s IPO attract strong investor demand?
• Is ICICI Bank’s pre-IPO acquisition a sign of long-term confidence?

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