Prudential plc successfully listed ICICI Prudential Asset Management Company on Indian stock exchanges, achieving a market capitalization of approximately USD 11.8 billion while retaining a 35% stake post-IPO.

Target Information

ICICI Prudential Asset Management Company Limited (IPAMC) has successfully listed its equity shares on both BSE Limited and the National Stock Exchange of India, marking a significant achievement for the company. The initial public offering (IPO) was priced at INR 2,165 per share, resulting in a market capitalisation of approximately INR 1,070 billion (USD 11.8 billion). Following the listing, Prudential Corporation Holdings Limited, a subsidiary of Prudential plc, retains an ownership stake of about 35% in IPAMC.

Founded as part of a joint venture with ICICI Bank, IPAMC has rapidly established itself as a leading asset management firm within the Indian market. The successful listing reflects not only the company's growth trajectory but also the strong investor appetite for asset management businesses in India, a key focus area for Prudential.

Industry Overview

The asset management industry in India has witnessed rapid growth over the past few years, with increasing investor awareness and a shift towards mutual funds for wea