| Event | Date |
|---|---|
| Open Date | 12-12-2025 , Friday |
| Close Date | 16-12-2025 , Tuesday |
| Tentative Allotment | 17-12-2025 , Wednesday |
| Tentative Listing Date | 19-12-2025 , Friday |
| Retail Appl. Cut Off Time | 16-12-2025 , Tuesday 05:00 PM |
| Non Retail Appl. Cut Off Time | 16-12-2025 , Tuesday 04:00 PM |
| Anchor Allotment | 11-12-2025 , Thursday |
| Initiation Of Refund | 18-12-2025 , Thursday |
| Credit Of Share To Demat | 18-12-2025 , Thursday |
ICICI Prudential Asset Management Company Limited is one of India’s leading asset management companies and one of the oldest AMCs in the country, with more than 30 years of history in the asset management industry.
The company manages investment products across mutual funds, portfolio management services, alternative investment funds and offshore advisory services. As of September 30, 2025, it was the largest asset management company in India in terms of active mutual fund QAAUM, with a market share of 13.3%.
ICICI Prudential AMC is engaged in managing investment products across mutual funds, PMS, AIFs, offshore advisory and digital platforms. Its core business is asset management, where the company earns fees by managing investor assets.
| Business Segment | Meaning |
|---|---|
| Mutual Funds | Investment schemes for retail, HNI and institutional investors |
| PMS | Portfolio Management Services for eligible investors |
| AIFs | Alternative Investment Funds for sophisticated investors |
| Offshore Advisory | Investment advisory services to offshore clients |
| Digital Platforms | Investor and distributor digital transaction and service platforms |
IPORupee View: ICICI Prudential AMC is an asset-light, fee-income-driven financial services business. It earns money mainly by managing investor assets. Its business grows when AUM increases, SIP flows continue, equity markets perform well, investors remain invested and the company maintains scheme performance and distribution strength.
| Parameter | Position / Metric |
|---|---|
| Active mutual fund QAAUM | Largest AMC in India |
| Active mutual fund market share | 13.3% |
| Total mutual fund QAAUM | Rs. 10,147.6 billion |
| Total mutual fund QAAUM market share | 13.2% |
| Equity and equity oriented QAAUM | Largest AMC in India |
| Equity and equity oriented market share | 13.6% |
| Equity oriented hybrid QAAUM | Largest AMC in India |
| Equity oriented hybrid market share | 25.8% |
| Individual investor MAAUM | Highest in Indian mutual fund industry |
| Individual investor MAAUM market share | 13.7% |
| Operating PBT | Most profitable AMC in India in FY2025 |
| Operating PBT market share | 20.0% |
IPORupee View: The company is not only large in total AUM. It is strong in higher-quality and higher-fee areas such as active mutual funds, equity-oriented schemes, hybrid equity-oriented schemes and individual investor assets.
| Category | Sept 30, 2025 | Sept 30, 2024 | FY2025 | FY2024 | FY2023 | Market Share Sept 30, 2025 | CAGR FY2023-FY2025 | Industry CAGR FY2023-FY2025 |
|---|---|---|---|---|---|---|---|---|
| Mutual Fund | Rs. 10,147.6 bn | Rs. 8,412.3 bn | Rs. 8,794.1 bn | Rs. 6,831.0 bn | Rs. 4,996.3 bn | 13.2% | 32.7% | 29.0% |
| Active Mutual Fund | Rs. 8,635.7 bn | Rs. 7,283.1 bn | Rs. 7,552.3 bn | Rs. 6,008.4 bn | Rs. 4,492.4 bn | 13.3% | 29.7% | 28.9% |
| Equity and Equity Oriented Schemes | Rs. 5,666.3 bn | Rs. 4,745.5 bn | Rs. 4,876.5 bn | Rs. 3,739.1 bn | Rs. 2,487.0 bn | 13.6% | 40.0% | 36.2% |
| Equity Oriented Hybrid Schemes | Rs. 1,912.3 bn | Rs. 1,581.8 bn | Rs. 1,653.1 bn | Rs. 1,294.9 bn | Rs. 872.9 bn | 25.8% | 37.6% | 29.5% |
IPORupee View: The company has grown faster than the mutual fund industry in key categories. Equity and equity oriented QAAUM grew at 40.0% CAGR from FY2023 to FY2025, compared with 36.2% industry CAGR. Equity oriented hybrid schemes are especially important because the company had 25.8% market share as of September 30, 2025.
As of September 30, 2025, ICICI Prudential AMC managed 143 mutual fund schemes, the largest number of schemes managed by an AMC in India.
| Scheme Category | Number of Schemes |
|---|---|
| Equity and Equity Oriented Schemes | 44 |
| Debt Schemes | 20 |
| Passive Schemes | 61 |
| Domestic Fund-of-Funds Schemes | 15 |
| Liquid Scheme | 1 |
| Overnight Scheme | 1 |
| Arbitrage Scheme | 1 |
| Total Mutual Fund Schemes | 143 |
| Scheme Category | QAAUM | Number of Schemes |
|---|---|---|
| Equity and Equity Oriented Schemes | Rs. 5,666.3 bn | 44 |
| Diversified Schemes | Rs. 2,181.4 bn | 9 |
| Equity Oriented Hybrid Schemes | Rs. 1,912.3 bn | 4 |
| Sector and Thematic Schemes | Rs. 1,355.6 bn | 23 |
| Tax-saving Schemes | Rs. 145.3 bn | 2 |
| Solution-oriented Equity Schemes | Rs. 36.9 bn | 3 |
| International Scheme | Rs. 32.8 bn | 1 |
| Overseas Fund-of-Fund Schemes | Rs. 1.9 bn | 2 |
| Debt Schemes | Rs. 1,991.4 bn | 20 |
| Ultra-short Duration Scheme | Rs. 170.4 bn | 1 |
| Low Duration Scheme | Rs. 270.5 bn | 1 |
| Money Market Scheme | Rs. 364.5 bn | 1 |
| Short Duration Scheme | Rs. 221.4 bn | 1 |
| Floater Scheme | Rs. 75.0 bn | 1 |
| Credit Risk and Corporate Bond Schemes | Rs. 395.5 bn | 2 |
| Medium Duration and Medium-to-Long Duration Schemes | Rs. 85.8 bn | 2 |
| Long-term Schemes and Gilt | Rs. 116.0 bn | 3 |
| Dynamic Bonds, Banking and PSU Schemes | Rs. 251.3 bn | 2 |
| Other Debt Schemes | Rs. 41.0 bn | 6 |
| ETFs and Index | Rs. 1,511.9 bn | 61 |
| Exchange-traded Funds | Rs. 1,074.9 bn | 35 |
| Index Schemes | Rs. 437.0 bn | 26 |
| Arbitrage | Rs. 318.2 bn | 1 |
| Liquid and Overnight Schemes | Rs. 659.7 bn | 2 |
| Total Mutual Fund QAAUM | Rs. 10,147.6 bn | 128 |
| Fund of Funds Domestic | Rs. 459.9 bn | 15 |
IPORupee View: The most important part of the AUM mix is equity and equity oriented schemes, contributing Rs. 5,666.3 billion, or about 55.8% of total mutual fund QAAUM. This is positive because equity-oriented schemes generally have higher fee structures than debt or passive schemes.
Investors can subscribe and redeem on any business day. These schemes are perpetual and do not have a fixed maturity date.
These schemes have a fixed maturity date. Investors can invest only during the new fund offer period.
| Scheme Name | Category | Launch Year / Track Record | QAAUM as of Sept 30, 2025 |
|---|---|---|---|
| ICICI Prudential Large Cap Fund | Equity and Equity Oriented | 17 years | Rs. 725.1 bn |
| ICICI Prudential Balanced Advantage Fund | Equity Oriented Hybrid | 2006 / 19 years | Rs. 658.0 bn |
| ICICI Prudential Multi-Asset Fund | Multi-Asset | 2002 / 23 years | Rs. 645.8 bn |
| ICICI Prudential Value Fund | Equity and Equity Oriented | 21 years | Rs. 543.8 bn |
| ICICI Prudential Equity and Debt Fund | Hybrid | 26 years | Rs. 452.8 bn |
| ICICI Prudential India Opportunities Fund | Equity and Equity Oriented | 2019 / 7 years | Rs. 301.0 bn |
| ICICI Prudential Asset Allocator Fund (FOF) | Domestic Fund of Fund | 2003 | Rs. 273.4 bn |
| ICICI Prudential Large and Mid Cap Fund | Equity and Equity Oriented | 27 years | Rs. 237.1 bn |
| ICICI Prudential Flexicap Fund | Equity and Equity Oriented | 4 years | Rs. 183.2 bn |
| ICICI Prudential Multicap Fund | Equity and Equity Oriented | 31 years | Rs. 155.7 bn |
| ICICI Prudential Equity Savings Fund | Equity Savings | 11 years | Rs. 155.7 bn |
IPORupee View: Large and long-running schemes are a sign of investor trust, distributor confidence and brand strength. Balanced Advantage Fund, Multi-Asset Fund and Value Fund are especially important because they represent large-scale products with long operating histories.
The company provides performance details of its 10 largest equity and equity oriented schemes in terms of QAAUM. These schemes are compared with benchmarks such as Nifty 100 TRI, Nifty 50 TRI, Nifty 200 TRI, Nifty 500 TRI, BSE 500 TRI, CRISIL Hybrid Index, iCOMDEX Composite Index and NIFTY 500 Multicap 50:25:25 TRI.
IPORupee View: For AMC IPO analysis, investors should not look only at AUM size. They should also compare scheme performance against benchmarks over 1-year, 3-year, 5-year and since-inception periods. If large schemes consistently beat benchmarks, it can support future inflows and distributor confidence.
| Particulars | Sept 30, 2025 | Sept 30, 2024 | FY2025 | FY2024 | FY2023 |
|---|---|---|---|---|---|
| Equity and Equity Oriented | Rs. 5,666.3 bn | Rs. 4,745.5 bn | Rs. 4,876.5 bn | Rs. 3,739.1 bn | Rs. 2,487.0 bn |
| Debt | Rs. 1,991.4 bn | Rs. 1,674.4 bn | Rs. 1,721.2 bn | Rs. 1,498.6 bn | Rs. 1,267.7 bn |
| ETFs and Index | Rs. 1,511.9 bn | Rs. 1,129.2 bn | Rs. 1,241.8 bn | Rs. 822.6 bn | Rs. 503.8 bn |
| Arbitrage | Rs. 318.2 bn | Rs. 236.3 bn | Rs. 255.2 bn | Rs. 169.4 bn | Rs. 110.4 bn |
| Liquid and Overnight Schemes | Rs. 659.7 bn | Rs. 627.0 bn | Rs. 699.3 bn | Rs. 601.2 bn | Rs. 627.4 bn |
| Mutual Fund QAAUM | Rs. 10,147.6 bn | Rs. 8,412.3 bn | Rs. 8,794.1 bn | Rs. 6,831.0 bn | Rs. 4,996.3 bn |
| PMS | Rs. 253.7 bn | Rs. 211.5 bn | Rs. 211.8 bn | Rs. 132.2 bn | Rs. 44.7 bn |
| AIF | Rs. 146.5 bn | Rs. 104.2 bn | Rs. 115.6 bn | Rs. 83.5 bn | Rs. 84.0 bn |
| Advisory | Rs. 329.1 bn | Rs. 374.6 bn | Rs. 311.3 bn | Rs. 336.4 bn | Rs. 182.5 bn |
| Alternates QAAUM | Rs. 729.3 bn | Rs. 690.4 bn | Rs. 638.7 bn | Rs. 552.2 bn | Rs. 311.2 bn |
| Total QAAUM | Rs. 10,876.9 bn | Rs. 9,102.6 bn | Rs. 9,432.8 bn | Rs. 7,383.1 bn | Rs. 5,307.4 bn |
IPORupee View: This is one of the strongest parts of the company. Individual investors generally provide better-quality AUM when linked with SIPs and long-term goals. Individual investors also tend to invest more in equity-oriented schemes, which generally have higher fee structures.
| Term | Meaning |
|---|---|
| SIP | Systematic Investment Plan. Investors invest a fixed amount regularly in a mutual fund scheme. |
| STP | Systematic Transfer Plan. Investors periodically transfer money from one scheme to another. |
| SWP | Systematic Withdrawal Plan. Investors withdraw a fixed amount at regular intervals, often for steady income. |
| Particulars | Value |
|---|---|
| Monthly systematic transaction flow in September 2025 | Rs. 48.0 bn |
| Systematic transaction flow in March 2025 | Rs. 39.1 bn |
| Systematic transaction flow in March 2024 | Rs. 33.6 bn |
| Systematic transaction flow in March 2023 | Rs. 23.5 bn |
| Individual investors with at least one systematic transaction folio | 6.4 million |
| Total systematic transactions in September 2025 | 14.2 million |
| Total systematic transactions in March 2023 | 5.7 million |
| Systematic transactions with tenure over five years | 92.5% |
| Distribution Metric | Count |
|---|---|
| Offices | 272 |
| States covered | 23 |
| Union territories covered | 4 |
| Institutional and individual MFDs | 110,719 |
| National distributors | 213 |
| Banks | 67 |
| ICICI Bank branches leveraged | 7,246 |
| Distribution Channel | Contribution |
|---|---|
| MFDs | 37.7% |
| National Distributors | 15.8% |
| Direct Sales | 27.1% |
| ICICI Bank | 8.3% |
| Other Banks | 11.1% |
IPORupee View: This distribution mix is strong because the company is not dependent only on ICICI Bank. MFDs, national distributors, direct sales and other banks also contribute meaningfully. In AMC business, distribution is a major moat.
The company has modernised its core technology stack with cloud-based technology. It operates websites, investor portals, distributor portals and the i-Invest mobile application.
| Platform / Tool | Purpose |
|---|---|
| i-Invest mobile app | Investor transactions and servicing |
| Investor portal | Digital transactions, reporting and services |
| Distributor portal | Transactions, reports, calculators and digital marketing support |
| Distributor mobile application | Helps MFDs manage business digitally |
| Website | Organised content, SEO, calls to action and analytical tools |
| Sales force mobile app | Customer relations, task planning, automation and timely insights |
| Data analytics | Personalised communication and investor journey insights |
| Fintech integrations | Connects with digital ecosystem and platforms |
| Particulars | H1 FY2026 | H1 FY2025 | FY2025 | FY2024 | FY2023 |
|---|---|---|---|---|---|
| Total purchase transactions | 11.6 million | 11.4 million | 22.4 million | 14.4 million | 11.5 million |
| Digital purchase transactions as % of total | 95.3% | 92.9% | 93.6% | 90.6% | 87.7% |
IPORupee View: Digital adoption is very strong. 95.3% of mutual fund purchase transactions were executed digitally in H1 FY2026. This improves scalability, reduces friction and supports wider investor reach. The content ecosystem of more than 4 million YouTube subscribers and over 1,400 videos also supports investor education.
| Revenue Source | Explanation |
|---|---|
| Mutual Fund Management Fees | Fees for managing mutual fund schemes |
| PMS Management Fees | Fees based on PMS assets / net capital |
| AIF Management Fees | Fees based on AIF assets / net capital |
| PMS and AIF Performance Fees | Performance-linked fees based on agreed terms, hurdle rates and scheme returns |
| Advisory Fees | Fees computed as a percentage of assets under advisory |
IPORupee View: AMC is a high operating leverage business. Once the fund management, compliance, technology and distribution infrastructure is built, incremental AUM can improve profitability. However, fees are regulated and competitive pressure can reduce yields.
| Particulars | Unit | H1 FY2026 | H1 FY2025 | FY2025 | FY2024 | FY2023 |
|---|---|---|---|---|---|---|
| Total MF QAAUM | Rs. bn | 10,147.6 | 8,412.3 | 8,794.1 | 6,831.0 | 4,996.3 |
| Active MF QAAUM | Rs. bn | 8,635.7 | 7,283.1 | 7,552.3 | 6,008.4 | 4,492.4 |
| MF Equity and Equity Oriented QAAUM | Rs. bn | 5,666.3 | 4,745.5 | 4,876.5 | 3,739.1 | 2,487.0 |
| MF Equity Oriented Hybrid QAAUM | Rs. bn | 1,912.3 | 1,581.8 | 1,653.1 | 1,294.9 | 872.9 |
| MF Individual MAAUM | Rs. bn | 6,610.3 | 5,746.4 | 5,658.2 | 4,642.2 | 3,234.7 |
| Customer Count | Million | 15.5 | 13.6 | 14.6 | 11.7 | 10.1 |
| Systematic Transactions | Rs. bn | 48.0 | 41.6 | 39.1 | 33.6 | 23.5 |
| Discretionary PMS QAAUM | Rs. bn | 252.9 | 210.7 | 211.8 | 132.2 | 44.7 |
| Alternates including Advisory QAAUM | Rs. bn | 729.3 | 690.4 | 638.7 | 552.2 | 311.2 |
| Operating Revenue | Rs. mn | 27,329.5 | 21,869.3 | 46,827.8 | 33,759.0 | 26,891.8 |
| Operating Revenue Yield | % | 0.52% | 0.51% | 0.52% | 0.52% | 0.52% |
| Operating Margin | % | 0.37% | 0.35% | 0.36% | 0.36% | 0.36% |
| Operating PBT | Rs. mn | 19,328.2 | 15,167.9 | 32,361.6 | 23,128.0 | 18,581.7 |
| PBT | Rs. mn | 21,494.8 | 17,880.9 | 35,330.5 | 26,981.1 | 20,071.7 |
| PAT | Rs. mn | 16,177.4 | 13,271.1 | 26,506.6 | 20,497.3 | 15,157.8 |
| ROE | % | 86.8% | 86.0% | 82.8% | 78.9% | 70.0% |
IPORupee Financial Insight: Operating revenue increased from Rs. 26,891.8 million in FY2023 to Rs. 46,827.8 million in FY2025. PAT increased from Rs. 15,157.8 million to Rs. 26,506.6 million during the same period. ROE is very high at 82.8% in FY2025 and 86.8% in H1 FY2026, reflecting the asset-light and profitable nature of the AMC business.
As of September 30, 2025, the company managed PMS QAAUM of Rs. 253.7 billion. Its PMS business served 26,451 clients, including 23,984 individual clients, across 25 strategies. The PMS investment framework follows a business, management and valuation approach.
| PMS Strategy | QAAUM | Description |
|---|---|---|
| PMS Contra Strategy | Rs. 118.8 bn | Contrarian investing across market capitalisation |
| PMS PIPE Strategy | Rs. 67.9 bn | Mid and small cap companies and special situations |
| PMS Growth Leaders Strategy | Rs. 16.4 bn | Earnings growth at reasonable valuation |
| PMS Value Strategy | Rs. 9.5 bn | Value investing and buy-and-hold approach |
| PMS Large Cap Strategy | Rs. 8.4 bn | Large-cap focused long-term capital appreciation |
| PMS ACE Strategy | Rs. 9.1 bn | Market-agnostic diversified equity portfolio |
The company manages Category II and Category III AIFs registered with SEBI. As of September 30, 2025, AIF QAAUM stood at Rs. 146.5 billion.
| AIF Strategy | Description |
|---|---|
| Equity Strategies | Long-term wealth creation through equity portfolios |
| Private Credit | Debt securities issued by Indian entities through primary issuance or secondary market purchase |
| Long-short Strategies | Equity and derivative strategies across market conditions |
| Real Estate | Rental yield from completed/pre-leased commercial properties and selected development projects |
The company has provided investment advisory services to offshore clients since 2006. It currently advises Eastspring, Prudential’s in-house asset management arm, on select equity and debt products distributed across Japan, Taiwan, Hong Kong and Singapore.
The company’s investment philosophy focuses on managing risk first and aiming for long-term returns. Its process combines asset allocation, sector allocation, security selection, quantitative analysis, qualitative analysis and risk controls.
| Area | Focus |
|---|---|
| Asset Allocation | Balanced and diversified portfolio construction |
| Sector Allocation | Exposure across sectors based on investment framework |
| Security Selection | Selection of individual securities through research |
| Quantitative Analysis | Industry growth, financial performance and competitive positioning |
| Qualitative Analysis | Management quality, governance standards and business sustainability |
| Risk Controls | Internal norms, risk management, audit and regulatory compliance |
As of September 30, 2025, ICICI Prudential AMC had 3,541 full-time employees.
| Function | Number of Employees |
|---|---|
| Sales | 2,911 |
| Enabling Function | 387 |
| Operations | 146 |
| Investments | 97 |
| Total | 3,541 |
Note: Sales includes dedicated teams for alternates business. Enabling functions include administration, compliance, finance, human resources, information technology, internal audit, internal control and projects, internal business, product development, legal, marketing, digital and customer experience and risk management.
Since 1998, ICICI Prudential AMC has operated as a joint venture between ICICI Bank and Prudential Corporation Holdings Limited.
| Entity | Market Capitalisation as of Sept 30, 2025 |
|---|---|
| ICICI Bank | Rs. 9,629.7 bn |
| ICICI Prudential Life Insurance | Rs. 861.1 bn |
| ICICI Lombard General Insurance | Rs. 940.1 bn |
| Particulars | Details |
|---|---|
| Prudential group history | Founded in 1848 |
| Prudential customers | More than 18 million |
| Prudential presence | 24 markets across Asia and Africa |
| Prudential market position | Top three positions in 10 Asian and 3 African markets |
| Eastspring AUM | US$258.0 billion globally |
| Eastspring position | Among 10 largest AMCs in seven Asian markets by onshore mutual fund AUM |
IPORupee View: Parentage is a key intangible strength. ICICI Bank provides domestic trust and distribution. Prudential and Eastspring provide global asset management credibility. This combination supports brand strength, governance perception, product innovation and investor confidence.
Strong scale and leadership in active mutual fund QAAUM.
Higher-fee AUM mix supports profitability.
25.8% market share in equity oriented hybrid QAAUM.
Highest individual investor MAAUM in the Indian mutual fund industry.
Recurring and predictable investor flows.
Wide product coverage across investor needs.
272 offices, MFD network, national distributors and bank channels.
95.3% purchase transactions through digital platforms in H1 FY2026.
PMS, AIF and advisory provide revenue diversification.
ICICI Prudential Asset Management Company Limited is one of India’s leading and most profitable AMCs. It has strong leadership in active mutual funds, equity and equity oriented schemes, equity oriented hybrid schemes and individual investor assets.
The company benefits from a strong brand, ICICI Bank and Prudential parentage, wide distribution network, strong SIP/STP flows, large retail investor base, high digital adoption and expanding alternates business.
Its business model is asset-light and fee-income driven, resulting in strong profitability and high ROE. However, AMC businesses are directly linked to market conditions, investor sentiment, scheme performance, regulatory rules and fee pressure.
AMC business is built on trust. ICICI Prudential AMC has scale, parentage, distribution and a long operating history.
Equity and equity oriented schemes contributed 55.8% of total mutual fund QAAUM as of September 30, 2025.
Individual investor MAAUM stood at Rs. 6,610.3 billion, improving AUM quality and retail stickiness.
Systematic transaction flows increased from Rs. 23.5 billion in March 2023 to Rs. 48.0 billion in September 2025.
The company has 272 offices, more than 110,000 MFDs, 213 national distributors, 67 banks and access to ICICI Bank’s 7,246 branches.
95.3% of purchase transactions were digital in H1 FY2026, and digital transactions grew at 44.1% CAGR from FY2023 to FY2025.
Alternates QAAUM stood at Rs. 729.3 billion as of September 30, 2025, supporting revenue diversification.
ICICI Bank supports domestic distribution and trust, while Prudential and Eastspring provide global asset management credibility.
Operating revenue yield remained stable at 0.52%, but TER rules, direct plans, passive growth and competition should be monitored.
A strong AMC can still be expensive if IPO valuation is aggressive. Peer comparison and growth sustainability matter.
ICICI Prudential AMC is a high-quality financial services business with strong scale, trusted parentage, large retail investor franchise, strong SIP/STP flows, wide product portfolio, pan-India distribution, high digital adoption and strong profitability.
Its biggest positives are leadership in active mutual funds, equity-oriented AUM, hybrid equity-oriented schemes and individual investor assets. Its asset-light model generates high ROE and strong profit growth.
However, investors should not analyse this IPO only by brand name. They should carefully evaluate IPO valuation, AUM growth, revenue yield, equity market dependence, regulatory risks, scheme performance, redemption risk, passive fee pressure and sustainability of profitability.
| Short Form | Full Form |
|---|---|
| AMC | Asset Management Company |
| AUM | Assets Under Management |
| QAAUM | Quarterly Average Assets Under Management |
| MAAUM | Monthly Average Assets Under Management |
| MF | Mutual Fund |
| MFD | Mutual Fund Distributor |
| SIP | Systematic Investment Plan |
| STP | Systematic Transfer Plan |
| SWP | Systematic Withdrawal Plan |
| PMS | Portfolio Management Services |
| AIF | Alternative Investment Fund |
| ETF | Exchange Traded Fund |
| FOF | Fund of Funds |
| HNI | High Net-worth Individual |
| TER | Total Expense Ratio |
| PBT | Profit Before Tax |
| PAT | Profit After Tax |
| ROE | Return on Equity |
| GAAP | Generally Accepted Accounting Principles |
| SEBI | Securities and Exchange Board of India |
| CRISIL | Credit Rating Information Services of India Limited |
| NFO | New Fund Offer |
This content is prepared by IPORupee for educational and informational purposes only. It is based on IPO-related disclosures and information provided for understanding the company’s business model, operational profile, financial performance, industry position and key risks.
This is not a recommendation to apply, avoid, buy, sell or hold any IPO, mutual fund, PMS, AIF, security or investment product. IPORupee is not a SEBI-registered investment adviser, research analyst, broker, mutual fund distributor or portfolio manager.
Mutual funds, PMS, AIFs and equity market-linked products are subject to market risks. Past performance does not guarantee future returns. Investors should read the Red Herring Prospectus, scheme documents, risk factors, financial statements, valuation details, peer comparison and official disclosures carefully and consult their financial advisor before making any investment decision.
| Category | Percentage | No. of Shares Offered | Amount |
|---|---|---|---|
QIB | 50.00 % | 2,32,62,172 | 5,036.26 Cr |
Retail | 35.00 % | 1,62,83,521 | 3,525.38 Cr |
Total HNI | 15.00 % | 69,78,652 | 1,510.88 Cr |
SHNI | 5.00 % | 23,26,217 | 503.63 Cr |
BHNI | 10.00 % | 46,52,435 | 1,007.25 Cr |
Shareholder | 0.00 % | 24,48,649 | 530.13 Cr |
ICICI Prudential Asset Management Company Ltd allotted 1,39,57,303 equity shares to anchor investors at ₹2,165 per share on 11 Dec 2025 before the IPO opening. The total anchor allocation stood at 3,021.76 Cr across 149 anchor investors.
Mutual funds received 46,62,097 shares worth 1,009.34 Cr, representing 33.40% of the total anchor investor allocation. Within the mutual fund portion, HDFC Mutual Fund had the highest fund-house level allocation with 7,11,312 shares worth 154.00 Cr across 7 schemes. Other leading fund houses by allocation included SBI Mutual Fund, Nippon India Mutual Fund, Kotak Mutual Fund and Axis Mutual Fund.
At scheme level, the largest mutual fund allocations included SBI BANKING & FINANCIAL SERVICES FUND, SBI DIVIDEND YIELD FUND, NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA SMALL CAP FUND, AXIS MUTUAL FUND TRUSTEE LIMITED A/C AXIS MUTUAL FUND A/C AXIS LARGE CAP FUND and HDFC MUTUAL FUND - HDFC BANKING AND FINANCIAL SERVICES FUND.
The largest anchor investor received 5.63% of the anchor portion. The top five anchor investors together received 33,80,244 shares, representing about 24.22% of the total anchor allocation.
| Rank | Anchor Investor Name | Shares Allocated | Allocation % | Allocation Amount |
|---|---|---|---|---|
| 1 | LIFE INSURANCE CORPORATION OF INDIA | 7,85,214 | 5.63 % | 170.00 Cr |
| 2 | CAPITAL GROUP GLOBAL EQUITY FUND (CANADA) | 7,80,396 | 5.59 % | 168.96 Cr |
| 3 | GOVERNMENT OF SINGAPORE | 6,63,516 | 4.75 % | 143.65 Cr |
| 4 | GOVERNMENT PENSION FUND GLOBAL | 5,77,362 | 4.14 % | 125.00 Cr |
| 5 | ARANDA INVESTMENTS PTE. LTD. | 5,73,756 | 4.11 % | 124.22 Cr |
| Rank | Mutual Fund Scheme | AMC | Shares Allocated | Allocation % | Allocation Amount |
|---|---|---|---|---|---|
| 1 | SBI BANKING & FINANCIAL SERVICES FUND | SBI Mutual Fund | 3,14,082 | 2.25 % | 68.00 Cr |
| 2 | SBI DIVIDEND YIELD FUND | SBI Mutual Fund | 3,09,468 | 2.22 % | 67.00 Cr |
| 3 | NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA SMALL CAP FUND | Nippon India Mutual Fund | 2,81,862 | 2.02 % | 61.02 Cr |
| 4 | AXIS MUTUAL FUND TRUSTEE LIMITED A/C AXIS MUTUAL FUND A/C AXIS LARGE CAP FUND | Axis Mutual Fund | 2,81,568 | 2.02 % | 60.96 Cr |
| 5 | HDFC MUTUAL FUND - HDFC BANKING AND FINANCIAL SERVICES FUND | HDFC Mutual Fund | 2,34,534 | 1.68 % | 50.78 Cr |
The figures are based on the company’s stock exchange anchor allotment intimation. Anchor allocation is only an informational disclosure and does not indicate future listing performance.
| Application | Discount | Qty (Lot) | Total |
|---|---|---|---|
Retail MIN | - | 6 (1) | ₹ 12,990 |
Retail MAX | - | 90 (15) | ₹ 1,94,850 |
SHNI MIN | - | 96 (16) | ₹ 2,07,840 |
SHNI MAX | - | 456 (76) | ₹ 9,87,240 |
BHNI MIN | - | 462 (77) | ₹ 10,00,230 |
Shareholder MIN | - | 6 (1) | ₹ 12,990 |
Shareholder MAX | - | 228 (38) | ₹ 4,93,620 |
| Objective | No Of Shares | Amount |
|---|---|---|
Offer for Sale | 4,89,72,994 | 10,602.65 Cr |
| # | Title | Published Date |
|---|---|---|
| 1 | ICICI Prudential AMC IPO: ICICI Bank Shareholder Quota Explained with Eligibility Cut-Off Date | 09-12-2025 , Tuesday |
Understand company details, IPO size, price band, lot size, exchange listing, fresh issue and Offer for Sale (OFS) in simple language for retail investors.
This IPO is of ICICI Prudential Asset Management Company Ltd. The issue is scheduled to open on Friday, 12 December 2025 and closes on Tuesday, 16 December 2025.
After the IPO process is completed, the shares are proposed to be listed on both NSE and BSE.
IPO size means the total amount offered to investors through the public issue.
For ICICI Prudential Asset Management Company Ltd IPO, the total issue size is Rs 10,602.65 crore, consisting of an Offer for Sale (OFS) of Rs 10,602.65 crore.
Price band is the price range within which investors can bid for shares in a book-built IPO.
For this IPO, the lower price band is Rs 2,061 per share and the upper price band is Rs 2,165 per share.
Lot size is the minimum number of shares an investor must apply for in an IPO. IPO applications are usually made in fixed lot multiples.
For ICICI Prudential Asset Management Company Ltd IPO, the minimum lot size is 6 shares. At the upper price band of Rs 2,165 per share, the minimum application amount is Rs 12,990. Applications must be made in multiples of 6 shares.
Offer for Sale (OFS) means existing shareholders sell their shares to the public through the IPO.
For ICICI Prudential Asset Management Company Ltd IPO, the Offer for Sale (OFS) size is Rs 10,602.65 crore. In an OFS, the selling shareholders receive the money, and the company usually does not receive funds from that portion.
Understand the important IPO dates, allotment process, refund schedule and listing timeline in a retail-friendly format.
The IPO opening date is the first day on which investors can apply for the public issue.
For ICICI Prudential Asset Management Company Ltd IPO, the IPO opens on Friday, 12 December 2025.
The IPO closing date is the last day on which investors can submit, modify, or cancel their IPO applications.
ICICI Prudential Asset Management Company Ltd IPO closes on Tuesday, 16 December 2025.
The tentative allotment date is the expected date on which the registrar finalizes the share allotment for valid IPO applications.
For ICICI Prudential Asset Management Company Ltd IPO, the tentative allotment date is Wednesday, 17 December 2025.
The tentative listing date is the expected date on which IPO shares begin trading on the stock exchanges.
ICICI Prudential Asset Management Company Ltd IPO is expected to list on Friday, 19 December 2025.
After allotment, funds are unblocked or refunds are initiated for non-allotted investors, while allotted shares are credited to investors' demat accounts before listing.
For ICICI Prudential Asset Management Company Ltd IPO, refund initiation is expected on Thursday, 18 December 2025, and credit of shares to demat accounts is expected on Thursday, 18 December 2025.
Understand IPO category-wise reservation, QIB quota, retail quota, HNI allocation, shareholder reservation and the meaning of structure columns in a simple format.
IPO structure shows how shares are divided among different categories of investors, such as QIB, Retail, NII/HNI, Employees, and Shareholders.
For ICICI Prudential Asset Management Company Ltd IPO, the available categories in the structure table include QIB, Retail, Non-Institutional Investors (NII/HNI), Shareholders. The NII/HNI category includes SHNI and BHNI sub-categories. Investors can use this table to understand category-wise allocation before applying.
QIB stands for Qualified Institutional Buyers. This category includes mutual funds, banks, insurance companies, and other large financial institutions.
In ICICI Prudential Asset Management Company Ltd IPO, 50% shares are reserved under the QIB category, with 2,32,62,172 shares offered, and an allocation amount of ₹5,036.26 crore.
The Retail category is reserved for individual investors and HUFs applying for up to Rs 2 lakh within the retail investment limit allowed under IPO rules.
In ICICI Prudential Asset Management Company Ltd IPO, 35% shares are reserved under the Retail category, with 1,62,83,521 shares offered, and an allocation amount of ₹3,525.38 crore.
NII/HNI stands for Non-Institutional Investors / High Net-Worth Individuals. This category generally includes investors applying for more than Rs 2 lakh, above the retail investment limit.
In ICICI Prudential Asset Management Company Ltd IPO, 15% shares are reserved under the NII/HNI category, with 69,78,652 shares offered, and an allocation amount of ₹1,510.88 crore.
SHNI stands for Small HNI. It is a sub-category within the NII/HNI category and generally refers to applications for more than Rs 2 lakh but not exceeding Rs 10 lakh.
In ICICI Prudential Asset Management Company Ltd IPO, 5% shares are reserved under the SHNI sub-category, with 23,26,217 shares offered, and an allocation amount of ₹503.63 crore.
BHNI stands for Big HNI. It is a sub-category within the NII/HNI category and generally refers to applications for more than Rs 10 lakh.
In ICICI Prudential Asset Management Company Ltd IPO, 10% shares are reserved under the BHNI sub-category, with 46,52,435 shares offered, and an allocation amount of ₹1,007.25 crore.
Shareholder reservation is a special quota reserved for eligible shareholders, if applicable under the IPO issue structure.
In ICICI Prudential Asset Management Company Ltd IPO, 24,48,649 shares are offered under the Shareholder Reservation category, and an allocation amount of ₹530.13 crore.
Understand retail lot size, HNI application limits, employee category, shareholder category and investment amount calculations using the IPO lot table.
Lot size is the minimum number of shares an investor must apply for in an IPO. IPO applications are usually made in fixed lot multiples.
For ICICI Prudential Asset Management Company Ltd IPO, the minimum lot size is 6 shares. At the upper price band of Rs 2,165 per share, the minimum application amount is Rs 12,990. Applications must be made in multiples of 6 shares.
Retail minimum application shows the minimum application size for retail investors.
For ICICI Prudential Asset Management Company Ltd IPO, the Retail minimum application is 6 shares (1 lot) for about Rs 12,990.
Retail maximum application shows the maximum application size generally available under the retail category.
For ICICI Prudential Asset Management Company Ltd IPO, the Retail maximum application is 90 shares (15 lots) for about Rs 1,94,850.
SHNI minimum application shows the minimum application size for the Small HNI category.
For ICICI Prudential Asset Management Company Ltd IPO, the SHNI minimum application is 96 shares (16 lots) for about Rs 2,07,840.
SHNI maximum application shows the maximum application size available under the Small HNI category, when provided.
For ICICI Prudential Asset Management Company Ltd IPO, the SHNI maximum application is 456 shares (76 lots) for about Rs 9,87,240.
BHNI minimum application shows the minimum application size for the Big HNI category.
For ICICI Prudential Asset Management Company Ltd IPO, the BHNI minimum application is 462 shares (77 lots) for about Rs 10,00,230.
Shareholder minimum application shows the minimum application size under the shareholder category, if this category applies to the issue.
For ICICI Prudential Asset Management Company Ltd IPO, the Shareholder minimum application is 6 shares (1 lot) for about Rs 12,990.
Shareholder maximum application shows the maximum application size under the shareholder category, if provided in the lot size table.
For ICICI Prudential Asset Management Company Ltd IPO, the Shareholder maximum application is 228 shares (38 lots) for about Rs 4,93,620.
Understand important financial figures in simple language using the financial statement data available for the IPO.
Financial Highlights show important numbers from the company's financial statements. These may include income, expenses, profit, assets, liabilities, cash flow and other financial information, depending on the data available for the IPO.
The table displays available financial data based on the IPO information currently available. Fields may differ from company to company depending on disclosures and reporting format.
Investors should read the table to understand the company's financial performance and financial position over different periods.
The table may help users review income, expenses, profitability, balance sheet position, cash movement or other financial information, depending on the available data.
Financial statement line items may differ because companies operate in different industries and may follow different reporting formats.
Some companies may provide detailed financial breakup, while others may present broader financial categories.
Investors should review income, expenses, profitability, debt position, asset base, liabilities and cash flow position together.
A single financial figure should not be used alone to judge the company.
Profit is important, but it does not show the full financial picture.
Investors should also review revenue quality, expenses, debt, assets, liabilities, cash flow, valuation and business risks.
Cash flow helps investors understand how money moves in and out of the business.
A company may report profit but still face cash flow pressure, so cash flow should be reviewed along with profit, debt and balance sheet information.
No. Financial Highlights are useful, but investors should also review valuation, peer comparison, KPI data, business risks, IPO pricing, management discussion and official offer documents such as the RHP or DRHP.
Understand how the company may be compared with similar businesses using the peer comparison data available for the IPO.
Peer Comparison means comparing the IPO company with businesses operating in a similar sector or industry.
It helps investors understand the company in a broader industry context.
Peer Comparison helps investors understand how the company can be compared with similar businesses using available financial or valuation metrics.
It is useful for context, but it should not be treated as a final investment conclusion.
Peer comparison metrics may differ depending on the companies selected, accounting format, business model and available public information.
Investors should compare only relevant and similar metrics.
Investors should use the peer comparison table as a reference point.
Available metrics should be read together with business model, scale, profitability, margins, debt, growth, valuation and IPO pricing.
No. Peer Comparison does not directly decide whether an IPO is good or bad.
It only provides context for comparison. Final analysis should include financial statements, KPI data, valuation, risk factors and official offer documents.
No. Peer Comparison is only one part of IPO analysis.
Investors should also review financial statements, KPI data, business risks, valuation, IPO pricing and company fundamentals.
Understand important KPI metrics in simple language using the key performance indicator data available for the IPO.
Key Performance Indicators, or KPIs, are financial and valuation metrics used to understand profitability, efficiency, leverage, return-based ratios and earnings performance.
They help investors understand the company beyond basic financial figures.
KPIs help investors assess profitability, capital efficiency, leverage, valuation and earnings quality.
They should be reviewed together with financial statements, peer comparison and IPO pricing.
KPI data may differ depending on the company, industry, financial disclosures and available offer document information.
Not every IPO may provide every KPI, and some metrics may not be applicable to every business.
Investors should read KPI metrics together instead of relying on one ratio.
A single KPI may not give the full picture unless it is reviewed with financial statements, peer comparison, business model and valuation.
No. High or low KPI values need context.
The meaning of a ratio may differ depending on industry, business model, debt level, growth stage, profitability and IPO valuation.
No. KPI data is useful, but it should not be used alone.
Investors should also review financial statements, peer comparison, business risks, valuation, IPO pricing and official offer documents such as the RHP or DRHP.