Rs 3,021.8 crore garnered from anchor investors; Global & Domestic Investor Titans Line Up
FinTech BizNews Service
Mumbai, 11 December 2025: The forthcoming Initial Public Offering (IPO) of ICICI Prudential Asset Management Company (AMC) is shaping up to be a landmark event for the Indian capital markets, having attracted a colossal congregation of over 100 significant quality investors from across the globe and India in its pre-IPO and anchor book allocations. The sheer pedigree and diversity of the investors—ranging from global sovereign wealth funds to India’s top family offices, veteran investors, every major domestic life insurer, and more than half the mutual fund industry players—underscore the immense confidence placed in India’s largest active asset manager.
ICICI Prudential Asset Management Company has garnered Rs 3,021.8 crore from anchor investors ahead of its initial public offering that opens for public subscription on December 12.
The company informed the bourses that it allocated 13, 953, 810 equity shares at Rs 2,165 per share to 149 anchor investors. Out of the total allocation of 13,957, 303 equity shares to the anchor investors, 4,662,097 were allocated to 27 domestic mutual funds through 77 schemes.
Symphony of Diverse Capital
The marquee investor roster providing an unprecedented seal of approval includes leading Sovereign
Wealth Funds (SWFs) such as GIC (Government of Singapore Investment Corporation), Temasek and
Lunate Capital (Abu Dhabi Investment Authority).
Adding to the long-term capital commitments are the likes of University of California, representing a
major global endowment fund, indicating an interest in sustainable, long-horizon growth that an AMC
offers.
The participation of large Foreign Institutional Investors (FIIs) highlights broad international interest,
with names like Fidelity, Norges Bank, BlackRock, Aberdeen, Wellington, Capital World, J.P. Morgan
Investment Management Inc, Fidelity Management & Research, Goldman Sachs Asset Management,
WhiteOak and HSBC GAM. Further strengthening the global institutional interest were Private Equity
(PE) & Investment Banks like Kedaara Capital and Chrys Capital (in the pre-IPO phase).
Deep domestic conviction was demonstrated by marquee investors, Veteran Fund Managers & Family
Offices, including Premji Invest, HCL Family Office, Manish Chokhani, 3PIM (Prashant Jain), Estate of
late Mr. Rakesh Jhunjhunwala and MK Ventures.
Domestic Financial Institutions Show Strength
The domestic institutional participation was equally robust, highlighting the strategic importance of this
asset manager in the Indian financial ecosystem.
All Major Life Insurers: A truly remarkable feat, every major private and public sector life
insurance company lined up to take a stake, including SBI Life, HDFC Life, Kotak Life, Aditya
Birla Sun Life, and Bajaj Life. Their participation signifies a collective belief in the AMC's long-
term value proposition and dominance in the market.
Mutual Funds: Reflecting the faith of the domestic asset management industry itself, a
staggering 27 mutual fund schemes are also part of the anchor book, confirming the broad
acceptance of the issue across the domestic financial market. (19 of the top 20 Mutual Funds
have invested )
The strong interest across these diverse categories of quality investors—from endowment funds seeking
long-term returns to strategic insurance companies and influential global and domestic funds—serves
as a robust validation of ICICI Prudential AMC's leadership position and future growth prospects in the
rapidly expanding Indian asset management space. The successful locking-in of such a premium investor
roster for the pre-IPO and anchor book sets an extremely positive tone ahead of the public subscription.
ICICI Prudential Asset Management Company Ltd (the “Company”) had also recently completed its pre-
IPO (Initial Public Offering) placement of nearly Rs4,815 crore.
IPO Details
The IPO is an offer-for-sale of up to 48,972,994 shares by the promoter – Prudential Corporation
Holdings Limited.
The Initial Public Offering (“IPO” or “Issue”) of the Company will open on Friday, December 12, 2025, for
subscription and close on Tuesday, December 16, 2025.
The IPO will fetch Rs 10,602 crore at the upper end of the price band.
Investors can bid for a minimum of 6 Equity Shares and in multiples of 6 Equity Shares thereafter.
The Offer is being made through the book-building process, wherein not more than 50% of the net offer
is allocated to qualified institutional buyers, and not more than 15% and 10% of the net offer is assigned
to non-institutional bidders and retail individual bidders respectively.
Company Information
The company is the largest asset management company in India in terms of active mutual fund quarterly
average assets under management (QAAUM) with a market share of 13.3% as of September 30, 2025
(source - CRISIL Report). As of September 30, 2025, its total mutual fund QAAUM was Rs10,147.6 billion.
As of September 30, 2025, the company is the largest asset management company in terms of equity
and equity- oriented QAAUM with market share of 13.6% (source - CRISIL Report).
Its equity- oriented hybrid schemes also had the largest market share in India, as of September 30, 2025
and as of March 31, 2025, 2024 and 2023 (source - CRISIL Report). As of September 30, 2025, it is the
largest asset management company in terms of equity- oriented hybrid QAAUM with market share of
25.8% (Source: CRISIL Report).
As of September 30, 2025, the company’s mutual fund monthly average asset under management
(MAAUM) attributable to individual investors (comprising retail investors and high-net-worth
individuals) (Individual Investors) was ₹6,610.3 billion. This represented the highest Individual Investor
MAAUM in the Indian mutual fund industry with a market share of 13.7% (source - CRISIL Report). In
addition to its mutual fund business, the company also has a growing alternates business comprising
portfolio management services (PMS), management of alternative investment funds (AIFs) and advisory
services to offshore clients (PMS, AIF and advisory, collectively Alternates).
Its revenue from operations was Rs 2,949.4 crore during the first 6 months of FY26 vis-à-vis Rs 2,458.2
crore a year earlier.
Net profit was Rs 161.8 crore during the first six months of FY26 vis-à-vis Rs 132.7 crore a year earlier.
The company’s revenue from operations was Rs 4,977.3 crore during FY 25 vis-à-vis Rs 2, 837.4 crore
during FY 23. The company’s net profit was Rs 2,650.6 crore during FY 25 vis-à-vis Rs 1,515.8 crore
during FY 23
ICICI Securities, Citigroup Global Markets India, Morgan Stanley India Company, BofA Securities India,
Axis Capital, CLSA India, IIFL Capital Services, Kotak Mahindra Capital Company, Nomura Financial
Advisory and Securities (India), SBI Capital Markets, Goldman Sachs (India) Securities, Avendus Capital,
BNP Paribas, HDFC Bank, JM Financial, Motilal Investment Advisors, Nuvama Wealth Management and
UBS Securities India are the book-running lead manager; and KFin Technologies Limited is the registrar
of the offer.
