<p>ICICI Prudential Asset Management Company, India's second-largest mutual fund manager by assets, has filed for an IPO comprising an offer for sale of up to 17.7 million shares, draft papers filed late on Tuesday showed.</p>.<p>The firm is a joint venture between Indian private lender ICICI Bank, which holds a 51 per cent stake, and British insurer Prudential, which owns the remaining 49 per cent.</p>.<p>The IPO will consist of an offer for sale of up to 10 per cent of ICICI Prudential Asset Management Company's equity share capital by Prudential Corporation Holdings Limited (PCHL), a subsidiary of Prudential.</p>.<p>Separately, Prudential said PCHL has entered an agreement with ICICI Bank to sell up to 2 per cent of the asset manager's stake to ICICI ahead of the IPO.</p>.<p>In February, Prudential had said it was considering listing its Indian joint venture.</p>.<p>In June, Bloomberg News reported that the company was close to filing draft papers for a proposed IPO that may fetch as much as $1.2 billion.</p>.India's IPO market eyes $2.4 billion in offerings in July as confidence rebounds.<p>ICICI Prudential Asset Management Company's profit for the year ended March 31, 2025 was up 29.3 per cent as income from fees and commission rose 38.7 per cent.</p>.<p>The increase in fees and commission was primarily due to an increase in total annual average assets under management to 9.01 trillion rupees ($105.08 billion) compared to 6.46 trillion rupees in the previous year, it said in the draft papers.</p>.<p>Morgan Stanley India, Axis Capital, BofA Securities India, Citigroup Global Markets India are among the book running lead managers of the offering.</p>.<p>($1 = 85.7440 Indian rupees)</p>
<p>ICICI Prudential Asset Management Company, India's second-largest mutual fund manager by assets, has filed for an IPO comprising an offer for sale of up to 17.7 million shares, draft papers filed late on Tuesday showed.</p>.<p>The firm is a joint venture between Indian private lender ICICI Bank, which holds a 51 per cent stake, and British insurer Prudential, which owns the remaining 49 per cent.</p>.<p>The IPO will consist of an offer for sale of up to 10 per cent of ICICI Prudential Asset Management Company's equity share capital by Prudential Corporation Holdings Limited (PCHL), a subsidiary of Prudential.</p>.<p>Separately, Prudential said PCHL has entered an agreement with ICICI Bank to sell up to 2 per cent of the asset manager's stake to ICICI ahead of the IPO.</p>.<p>In February, Prudential had said it was considering listing its Indian joint venture.</p>.<p>In June, Bloomberg News reported that the company was close to filing draft papers for a proposed IPO that may fetch as much as $1.2 billion.</p>.India's IPO market eyes $2.4 billion in offerings in July as confidence rebounds.<p>ICICI Prudential Asset Management Company's profit for the year ended March 31, 2025 was up 29.3 per cent as income from fees and commission rose 38.7 per cent.</p>.<p>The increase in fees and commission was primarily due to an increase in total annual average assets under management to 9.01 trillion rupees ($105.08 billion) compared to 6.46 trillion rupees in the previous year, it said in the draft papers.</p>.<p>Morgan Stanley India, Axis Capital, BofA Securities India, Citigroup Global Markets India are among the book running lead managers of the offering.</p>.<p>($1 = 85.7440 Indian rupees)</p>