ICICI Prudential AMC may shortly file papers for up to ₹10,000 cr IPO; pure OFS by British JV partner

India’s second largest asset management company in terms of managed assets, ICICI Prudential Asset Management Company, is likely to shortly file draft papers with market regulator SEBI for its proposed initial public offer (IPO), a pure OFS or offer for sale by Britain’s Prudential Plc, possibly as early as this week, multiple industry sources in the know told Moneycontrol.The 51:49 joint venture has existed for 26 years with ICICI Bank tying up with Prudential Plc back in 1998.

The British JV partner plans to raise up to ₹10,000 crore by offloading part stake (a minimum dilution of 10 per cent stake is required), these sources added.

On June 10, Moneycontrol was the first to report that the firm had kicked off its mega listing plans, engaged an army of up to 17 investment banks, arguably an all-time record for size of IPO syndicates in India, and was planning to file its draft red herring prospectus (DRHP) by early July. An issue launch was likely in Q3FY26, the report had added.

If plans fructify, this would be the fifth listing from the ICICI Group after ICICI Bank, ICICI Prudential Life Insurance Company, ICICI Lombard General Insurance Company and ICICI Securities. It would also be the fifth mutual fund listing after HDFC Asset Management Company , Nippon Life India Asset Management Company, UTI Asset Management Company and Aditya Birla Sun Life.