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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
The money raised through the Offer for Sale goes to existing investors, not the company.
(₹ in Crore)
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ICICI Prudential Asset Management Company Limited is India's largest asset manager measured by active mutual fund quarterly average assets under management, with a market share of about 13.3 percent as of September 30, 2025. Incorporated in 1993 and operating as a joint venture between ICICI Bank and the Prudential group since 1998, the company runs a mutual fund business alongside a portfolio management and an alternative investment fund business. It follows what it describes as a risk first investment philosophy aimed at long term wealth creation for its customers. As of September 30, 2025 the company reported mutual fund quarterly average assets under management of about 10,147.6 billion rupees and served roughly 15.5 million customers. It manages well over a hundred mutual fund schemes across equity, debt, hybrid, and passive strategies, and it holds a leading position in the individual investor segment. Its alternatives business managed several hundred billion rupees in additional assets. The company reaches investors through a pan India network of branches, a large base of distributors, and the parent bank's extensive branch footprint, complemented by digital platforms and apps. The company generates revenue mainly from management and advisory fees earned on the assets it manages, a model that has produced high margins and a very high return on net worth. Its earnings have grown steadily over recent years alongside rising assets under management and strong inflows into equity oriented schemes. The initial public offering was entirely an offer for sale by the promoter selling shareholder, so the company itself did not receive any proceeds and its shares simply moved from the promoter to public investors.
The company's promoter selling shareholder raised about 3,021.76 crore rupees from anchor investors ahead of the issue, allotting 1,39,57,303 shares at the anchor price of 2,165 rupees per share on the anchor bidding day of 11 December 2025. The anchor portion accounted for roughly 28.5 percent of the total offer, a large anchor book reflecting strong institutional demand for a marquee asset manager.
Source: RHP • Analysis provided for informational purposes
Last Updated: 9 July 2026, 5:30 AM
Market leadership in asset management
The company is the largest asset manager in India by active mutual fund quarterly average assets, giving it scale advantages and brand recognition among investors.
Strong promoter parentage
It is backed by ICICI Bank and the Prudential group, which lends brand strength, governance, and access to a wide distribution base.
Diversified product range
It offers a broad set of equity, debt, hybrid, and passive schemes plus alternatives, which spreads its revenue across investor needs and market cycles.
Wide distribution reach
It reaches investors through a large branch and distributor network and the parent bank's footprint, supported by digital platforms, which helps sustain inflows.
High profitability
The fee based model generates high margins and a very high return on net worth, and earnings have grown steadily with rising assets under management.
Market linked earnings
Assets under management and fee income move with market levels, so a market downturn or weaker investor sentiment could reduce revenue.
Regulatory change
The mutual fund industry is closely regulated, and changes to fee caps or product rules could affect margins and operations.
Distributor dependence
A meaningful share of customer acquisition relies on third party distributors, so shifts in distributor economics or relationships could affect flows.
ICICI Prudential Asset Management Company Limited
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Competitive pressure
It competes with many other asset managers, including low cost passive providers, which can pressure fees over time.
Technology and cyber risk
Growing reliance on digital platforms exposes the company to cybersecurity and system failure risks that could disrupt service.