Prudential signs IPO underwriting for ICICI asset manager

The IPO is set to raise $1.17b for the Prudential unit.

Prudential plc said it has signed an underwriting agreement for the initial public offering (IPO) of ICICI Prudential Asset Management Company Limited.

The agreement, dated 16 December 2025, was entered into by Prudential Corporation Holdings Limited, ICICI Prudential Asset Management Company and the IPO underwriters. The company has also filed its prospectus with the Registrar of Companies in Delhi and Haryana.

As part of the IPO, Prudential Corporation Holdings Limited will sell a total of 48.97 million shares in IPAMC at a price of ~$23.78 (INR2,165) per share. 

This includes about 13.96 million shares sold to anchor investors and about 35.02 million shares offered to other investors.

The sale is expected to generate gross proceeds of about US$1.17bn for Prudential Corporation Holdings Limited.

Prudential said the net proceeds from the IPO, together with proceeds from a pre-IPO private placement announced on 11 December 2025, are intended to be returned to Prudential shareholders, subject to regulatory and shareholder approvals where required.