Initial Public Offer of Equity Shares of ICICI Prudential Asset Management Company Limited to open on December 12, 2025

(L–R) Mr. Nimesh Shah (Managing Director & CEO); Mr. Sandeep Batra, (Chairman), ICICI Prudential Asset Management Company Limited at the IPO press conference of ICICI Prudential Asset Management Company Limited held today in Mumbai.

Price band fixed at ₹2,061 to ₹2,165 per Equity Share

The Floor Price is 2,061 times the face value of Equity Shares and the Cap Price is 2,165 times the face value of the Equity Shares.

Bid / Offer will open on Friday, December 12, 2025 and close on Tuesday, December 16, 2025 (“Bid Dates”).

 

The Anchor Investor Bidding Date shall be Thursday, December 11, 2025.

 

Minimum bid lot is 6 Equity Shares and thereafter in multiples of 6 Equity Shares.

Red Herring Prospectus link: https://www.icicipruamc.com/investor-relations/offer- documents/rhp1

 

Mumbai, December 08, 2025: ICICI Prudential Asset Management Company Limited (the “Company”), shall open the Bid/Offer in relation to its initial public offer (“Offer”) of Equity Shares on December 12, 2025 and close on December 16, 2025, with the Anchor Investor Bidding Date being December 11, 2025.

The Offer is by way of an Offer for Sale of up to 48,972,994 Equity Shares by one of the Promoters of the Company, i.e., Prudential Corporation Holdings Limited. The Offer includes a reservation of up to 2,448,649 Equity Shares for subscription by Eligible ICICI Bank Shareholders (the “ICICI Bank Shareholders Reservation Portion”). The Offer less the ICICI Bank Shareholders Reservation Portion is the “Net Offer”. The Offer and the Net Offer will constitute 9.91% and 9.41% of the post-Offer paid-up Equity Share capital of the Company, respectively.

 

The Equity Shares are being offered through the red herring prospectus of the Company dated December 05, 2025 (the “Red Herring Prospectus”), filed with the Registrar of Companies, Delhi and Haryana at New Delhi (the "ROC”). The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”).

 

The price band for the Offer is ₹2,061 to ₹2,165 per Equity Share.

 

Bids can be made for a minimum of 6 Equity Shares and in multiples of 6 Equity Shares thereafter.

Citigroup Global Markets India Private Limited, ICICI Securities Limited, Axis Capital Limited, Morgan Stanley India Company Private Limited, Goldman Sachs (India) Securities Private Limited, CLSA India Private Limited, BofA Securities India Limited, UBS Securities India Private Limited, BNP Paribas, Nomura Financial Advisory and Securities (India) Private Limited, Avendus Capital Private Limited, SBI Capital Markets Limited, Kotak Mahindra Capital Company Limited, JM Financial Limited, Nuvama Wealth Management Limited, IIFL Capital Services Limited (Formerly known as IIFL Securities Limited), Motilal Oswal Investment Advisors Limited, and HDFC Bank Limited have been appointed as the Book Running Lead Managers to the Offer; and KFin Technologies Limited is the Registrar of the Offer.

 

The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the SCRR, read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Net Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (“QIB Portion”), provided that the Company, in consultation with the Book Running Lead Managers, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which, up to 40% of the Anchor Investor Portion shall be reserved in the following manner: (a) up to 33.33% shall be reserved for domestic Mutual Funds; and (b) up to 6.67% shall be reserved for Life Insurance Companies and Pension Funds, subject to valid Bids being received from domestic Mutual Funds, Life Insurance Companies and Pension Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription in the Anchor Investor Portion reserved for Life Insurance Companies and Pension Funds, the unsubscribed portion shall be available for allocation to domestic Mutual Funds. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (“Net QIB Portion”).

 

Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to all QIBs.

 

Further, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders (“RIBs”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. One-third of the Non-Institutional Portion shall be available for allocation to Non-Institutional Bidders with a Bid size of more than ₹0.2 million and up to ₹1.0 million and two-thirds of the Non-Institutional Portion shall be available for allocation to Non- Institutional Bidders with a Bid size of more than ₹1.0 million provided that under-subscription in either of these two sub-categories of the Non-Institutional Portion may be allocated to Non- Institutional Bidders in the other sub-category of Non-Institutional Portion in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, Equity Shares will be allocated on a proportionate basis to Eligible ICICI Bank Shareholders

Bidding in the ICICI Bank Shareholders Reservation Portion, subject to valid Bids received from them at or above the Offer Price.

 

All potential Bidders (except Anchor Investors) are mandatorily required to participate in the Offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID in case of UPI Bidders, as applicable, pursuant to which their corresponding Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or by the Sponsor Bank(s) under the UPI Mechanism, as the case may be, to the extent of the respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process. For details, see “Offer Procedure” beginning on page 436 of the RHP.

Capitalised terms used herein and not specifically defined shall have the meaning ascribed to such term in the RHP.

 

Disclaimer

ICICI Prudential Asset Management Company Limited (the “Company”) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed the red herring prospectus dated December 05, 2025, (“RHP”) with the Registrar of Companies, Delhi and Haryana at New Delhi (“RoC”). The RHP is available on the websites of the Company at www.icicipruamc.com, SEBI at www.sebi.gov.in, the websites of the book running        lead                managers,      Citigroup                       Global       Markets              India                  Private           Limited            at www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm, ICICI Securities Limited at www.icicisecurities.com, Morgan Stanley India Company Private Limited at www.morganstanley.com/india, Goldman Sachs (India) Securities Private Limited at www.goldmansachs.com, BofA Securities India Limited at https: //business.bofa.com/bofas-india, Avendus Capital Private Limited at www.avendus.com, Axis Capital Limited at www.axiscapital.co.in, BNP Paribas at www.bnpparibas.co.in, CLSA India Private Limited at www.india.clsa.com, HDFC Bank Limited at www.hdfc.bank.in, IIFL Capital Services Limited (formerly known as IIFL Securities Limited) at www.iiflcap.com, JM Financial Limited at www.jmfl.com, Kotak Mahindra Capital Company Limited at https: //investmentbank.kotak.com, Motilal Oswal Investment Advisors Limited at www.motilaloswalgroup.com, Nomura Financial Advisory and Securities (India) Private Limited at www.nomuraholdings.com/company/group/asia/india/index.html, Nuvama Wealth Management Limited at www.nuvama.com, SBI Capital Markets Limited at www.sbicaps.com and UBS Securities India Private Limited at www.ubs.com/indiaoffers., the website of the National Stock Exchange of India Limited at www.nseindia.com and the website of the BSE Limited at www.bseindia.com, respectively. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the RHP filed with the RoC, including the section titled “Risk Factors” beginning on page 32. Potential investors should not rely on the draft red herring prospectus dated July 8, 2025 filed with the Securities and Exchange Board of India in making any investment decision.

 

This announcement is not an offer of securities for sale in the United States or elsewhere. This announcement is not for publication or distribution, directly or indirectly, in or into the United States. The equity shares described in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. There will be no public offering of securities in the United States.