ICICI Prudential AMC gets Sebi nod to float IPO, eyes $12 billion valuation: Report

ICICI Prudential AMC IPO: ICICI Prudential Asset Management Company (AMC) has received approval from the capital markets regulator, Securities and Exchange Board of India (Sebi), to launch an initial public offering (IPO), according to media reports.

Moneycontrol, quoting sources, reported that the ICICI Prudential AMC IPO is likely to hit the market in the second week of December as Sebi approval has been received, with the company eyeing a valuation of $12-12.5 billion.

The IPO by India's second-largest AMC in terms of assets under management will entirely be an offer for sale by Britain's Prudential Plc. Bloomberg, too, had reported earlier this month, on November 20, that ICICI Pru AMC was nearing Sebi's nod for its share sale.

As of October 31, 2025, ICICI AMC has an AUM of over ₹10,64,220 crore, with an investor base of over 1.57 crore.

The company submitted its draft red herring prospectus (DRHP) to Sebi more than four months ago on July 8, saying the plan involves Prudential’s sale of as many as 17.65 million shares, or a 10% stake. ICICI Bank holds 51% of the joint venture, while UK-based Prudential owns the rest.

Fifth ICICI group firm to list on D-Street

If ICICI Pru AMC launches its IPO, it would become the fifth group firm to list on the Indian stock market after ICICI Bank, ICICI Prudential Life Insurance Company, ICICI Lombard General Insurance Company and ICICI Securities.

In February, Prudential had said it was considering listing its Indian joint venture on the bourses. Separately, ICICI Bank on July 9, informed exchanges that it has entered into an inter-se agreement with PCHL stating its intention to purchase up to 2% of the fully diluted pre-IPO share capital of the company from PCHL, before the consummation of the IPO.

Fronted by ICICI Securities and Citigroup and backed by 16 more banks, the issue boasts the biggest syndicate India has ever seen for an IPO, as per Bloomberg.

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