ICICI Prudential AMC files for IPO; entirely an offer for sale by Prudential Corp
offer for sale
(OFS) of 1.76 crore equity shares by Prudential Corporation Holdings, the UK-based joint venture partner. As there is no fresh issue involved, all proceeds from the offering will go directly to the selling shareholder, with ICICI Prudential AMC receiving no capital infusion from the issue.
Formed in 1998, ICICI Prudential AMC is a joint venture between
ICICI Bank
and Prudential Corporation Holdings, with
ICICI Bank
holding a 51% stake and the remaining 49% owned by its British partner.
As of March 2025, the AMC held a 13% market share in quarterly average assets under management (QAAUM), serving a customer base of 14.6 million across India. With over three decades of experience in the
asset management
sector, it stands as a major player in the Indian mutual fund landscape.
If successful, the IPO will make ICICI Prudential AMC the fifth company from the ICICI Group to be publicly listed, joining ICICI Bank, ICICI Prudential Life Insurance, ICICI Lombard General Insurance, and ICICI Securities. It will also become the fifth asset management firm to go public, following
HDFC AMC
,
UTI AMC
, Nippon Life India AMC,
Aditya Birla Sun Life AMC
, and Shriram AMC.
The AMC is led by Nimesh Vipinbabu Shah as Managing Director and CEO, and Sankaran Naren as Executive Director and CIO. In FY25, the company reported a 29.3% year-on-year increase in net profit to Rs 2,650.7 crore, while revenue jumped 38.7% to Rs 4,682.8 crore.
The IPO is being managed by an unprecedented 18 merchant bankers — the highest ever for an Indian IPO. These include global and domestic firms such as Citigroup, Morgan Stanley, BofA Securities, Axis Capital, CLSA, IIFL Capital, Kotak Mahindra Capital, Nomura, SBI Capital, ICICI Securities, Goldman Sachs, Avendus Capital, BNP Paribas, HDFC Bank, JM Financial, Motilal Oswal, Nuvama Wealth, and UBS Securities India.
Also read:
Why are investors flocking to money market funds amid falling interest rates?
This marks the first time in Indian capital markets that such a large consortium of bankers has been engaged for a single IPO.
ICICI Bank, in a board meeting held on June 27, approved the acquisition of an additional 2% stake in ICICI Prudential AMC. The bank noted that the move was intended to preserve its majority shareholding in the event of stock-based compensation being granted by the AMC.
Earlier this year, on February 12, Prudential PLC announced its plan to partially divest its holding in ICICI Prudential AMC through a potential IPO. On the same day, ICICI Bank reaffirmed its commitment to maintaining majority control of the AMC as part of its long-term strategic vision.
(
Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
ETMarkets WhatsApp channel
)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
26 minutes ago
- The Hindu
From The Hindu, August 5, 1975: Direct dialling facility to benefit rural areas
New Delhi, Aug. 4: The Posts and Telegraphs Department is working on a rural dialling plan to benefit subscribers in small towns and villages. The plan is based on the traffic pattern obtaining in the rural areas. It will enable the subscribers in a district to have automatic dialling of calls between the towns and with the district headquarters. Sixty per cent of the calls in the rural areas have been found to be within a revenue district. Subscribers also put through more calls to the district headquarters rather than among themselves. Most of the calls are within a range of 50 kms. The rural dialling plan will provide quick communication in an economic way. Calls from places outside the district will be initially on a manual basis, but will become automatic in course of time. Several advantages are claimed for the plan from the pattern of traffic. The cost of handling a short distance trunk call is Rs. 3 on average, while the revenue earned remains around one rupee only. Hence it is more advantageous to provide STD service in a revenue district. Already exchanges of 100 or 50 lines are automatic whereas the trunk service is manual. Under the proposed scheme, there will be more customer satisfaction as 60 per cent to 70 per cent can dial themselves. The loss to the Department will also be reduced. The Telecommunication Research Centre (TRC) is fully equipped to meet the demand. It has already evolved a new technique in telephone exchanges or switching centres which will bring down the cost of the network.
Time of India
41 minutes ago
- Time of India
Eli Lilly opens tech, innovation centre in Hyd with plans to hire 1,500 in 2-3 yrs
1 2 Hyderabad: Pharma giant Eli Lilly and Company (India) opened its new technology and innovation centre in Hyderabad's Hitech City, spanning 2.2 lakh sq ft. The global capability centre (GCC) already houses around 100-120 employees and plans to accommodate around 1,500 employees by 2026-27. The facility, which also houses a nerve centre connecting all of Lilly's facilities globally, will serve as a strategic hub for advanced digital and technology capabilities and enhance efficiencies across its global operations. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad The Hyderabad site will focus on technologies such as artificial intelligence (AI), automation, cloud computing, and software product engineering to address global health challenges, Lilly said on Monday. Diogo Rau, executive vice president and chief information and digital officer, Eli Lilly and Co, said the new facility will not be a business processes or IT support hub but a centre of innovation. "This expansion brings together top talent in AI, data science, and engineering to build the digital foundation that will accelerate the discovery and delivery of innovative medicines with Hyderabad offering the perfect blend of deep technical expertise and collaboration," he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 11 Foods That Help In Healing Knee Pain Naturally Undo Inaugurating the new GCC, Telangana chief minister Revanth Reddy said it attests to the growing stature of Hyderabad, which is home to nearly 2,000 life sciences companies and accounts for 40% of India's pharma production, as a global life sciences hub. He also outlined Telangana's ambitious economic goals of emerging as a $1 trillion economy in the next decade and contributing 10% to India's projected $30 trillion economy by 2047. Telangana IT & industries minister D Sridhar Babu said after adding around 70 GCCs in 2024-25, the state is now targeting attracting 100 GCCs in 2025-26. He said Hyderabad's Genome Valley and medtech parks have added 1.1 crore square feet of R&D and manufacturing space recently. He also pointed to Telangana's leadership in investment mobilisation with inflows of Rs 3.2 lakh crore in the past 19 months, surpassing states like Gujarat with 2.6 lakh crore and Tamil Nadu with Rs 2.1 lakh crore. He said the govt is also focused on digitally enabling patient records for over 40 million residents.
Time of India
an hour ago
- Time of India
Hims & Hers Q2 revenue drop shakes stock—Hims crashes 11% after first-ever revenue decline, is the weight-loss drug hype finally fading?
Why did Hims & Hers stock fall after earnings? Live Events Current Price : $63.35 : $63.35 Day Range : $54.82 – $65.54 : $54.82 – $65.54 Open : $64.00 : $64.00 Market Cap: $6.56 Billion P/E Ratio : 39.93 : 39.93 Volume: 35.5M Earnings beat estimates, but Wall Street stays cautious Is the GLP‑1 weight-loss business at risk? Regulatory uncertainty : With the FDA rolling back flexibility on compounded versions of semaglutide, questions are mounting about how long Hims can rely on this segment for revenue. : With the FDA rolling back flexibility on of semaglutide, questions are mounting about how long Hims can rely on this segment for revenue. Legal challenges : The company recently ended its supply relationship with Novo Nordisk , the maker of Wegovy, and is now facing lawsuits over how it marketed compounded alternatives. : The company recently ended its supply relationship with , the maker of Wegovy, and is now facing lawsuits over how it marketed compounded alternatives. Competitive pressure: Big players like Eli Lilly and Novo Nordisk are dominating the branded drug market, making it harder for telehealth companies offering generics to compete on pricing and trust. Hims keeps full-year guidance intact—thanks to international expansion Subscriber growth remains strong despite volatility What investors should watch going forward Future of compounded GLP-1s: Regulatory and legal outcomes could limit Hims' ability to sell compounded semaglutide at scale. Profitability trends: Will margins hold up as more competition floods the market and Hims scales its personalized offerings? Subscriber growth and retention: Continued engagement in non-weight loss categories will be key to long-term stability. Zava integration: The success or failure of this acquisition could make or break Hims' international ambitions. Hims still growing, but cracks are showing FAQs: (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Hims & Hers Health (NYSE: HIMS), the fast-growing telehealth company known for its personalized care plans and buzzy entry into the weight-loss market, saw its stock drop by over 11% after reporting second-quarter 2025 earnings. While revenue jumped 73% year-over-year, the company missed Wall Street expectations and posted its first-ever, raising questions about the future of itsDespite its rapid annual growth, Hims & Hers posted, missing the analyst estimate of. The real concern? Revenue dropped from, marking the first quarter-over-quarter decline since the company went stock currently trades at, regaining some ground after hitting an intraday low of. Despite opening at, it remains volatile, with an intraday high ofThe market reacted sharply to the company's revenue miss—$544.8 million vs. $552 million expected—even though earnings per share beat expectations and subscriber numbers remained strong. Most of the company's revenue stemmed from its GLP-1-based obesity and diabetes treatments, a booming but increasingly scrutinized business regulatory pressures, lawsuits from Novo Nordisk, and tighter FDA rules on compounded semaglutide, Hims faces headwinds in its fastest-growing segment. However, with a market cap of over $6.5 billion, a P/E ratio of 39.93, and forward-looking confidence via its Zava acquisition, the company is still betting big on growth in both the U.S. and were caught off guard, as the slowdown came amid soaring demand forlike semaglutide, a compound similar to the active ingredient in Wegovy and the profit front, Hims reported an adjusted EPS of $0.19, beating the Street's expectation of $0.15. However, the revenue miss overshadowed this earnings appeared more concerned about the underlying business momentum, particularly in the obesity treatment space, which has been a major driver of Hims' recent biggest growth story in recent quarters has been its expansion into GLP-1 weight-loss treatments, which brought in around $190 million in Q2 alone. However, a few red flags have emerged:Despite the Q2 shortfall, Hims & Hers stuck to its full-year outlook. The company reaffirmed its 2025 guidance of $2.3 billion to $2.4 billion in revenue and $295 million to $335 million in adjusted EBITDA.A big reason? The Zava acquisition, a European telehealth platform, which is expected to contribute around $50 million in new revenue this year. This suggests Hims is betting heavily on international growth to offset some of its domestic bright spot in the report was Hims' growing subscriber base. The company now serves over 2.4 million active subscribers, with nearly 70% enrolled in personalized treatment plans that span weight loss, hair care, sexual health, and mental Andrew Dudum emphasized that the company is leaning deeper into its long-term strategy of personalized digital healthcare, aiming to build loyalty and customer lifetime value across multiple product you're following Hims & Hers stock or investing in telehealth companies focused on the obesity drug boom, here are four key things to monitor:Hims & Hers Health has come a long way as a digital-first wellness brand with a bold strategy around weight-loss drugs and personalized healthcare. But the 11% stock drop shows investor sentiment is shifting, especially as its flagship obesity business faces regulatory hurdles and supply now, the company's strong year-over-year growth and firm 2025 guidance offer some reassurance. But with rising competition, tighter FDA rules, and legal pressure, Hims will need to prove that its success isn't just tied to a single product wave—but a durable, trusted digital care company missed revenue estimates and saw its first-ever sequential drop in due to FDA scrutiny and legal issues around compounded semaglutide.
