ICICI Prudential Asset Management files for IPO. Check offer details
As part of the IPO process, PCHL has also signed an agreement to offload up to 2% of its stake to ICICI Bank ahead of the public offering. This pre-IPO transaction is separate from the shares to be sold in the offer for sale.The move follows Prudential's earlier indication in February that it was considering listing its Indian mutual fund arm. In June, Bloomberg reported that the IPO could raise as much as $1.2 billion or Rs 10,000 crore.According to the draft red herring prospectus filed on Tuesday, ICICI Prudential AMC posted a 29.3% jump in profit for the financial year ended March 31, 2025, driven by strong growth in fee and commission income, which rose 38.7%.The surge in income was attributed to an increase in the fund house's annual average assets under management (AAUM), which grew to Rs 9.01 lakh crore, up from Rs 6.46 lakh crore the previous year.Morgan Stanley India, Axis Capital, BofA Securities India, and Citigroup Global Markets India are among the book-running lead managers for the proposed offering.- Ends
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