Overview

• Prudential Corporation Holdings Limited is the sole seller in the DRHP-filed IPO, offering up to 1.77 crore equity shares, or 10% of the AMC’s paid-up capital.
• ICICI Bank won board approval to purchase an additional 2% stake from Prudential before the IPO, ensuring its subsidiary classification remains unchanged.
• The IPO is structured as a pure offer-for-sale with no fresh shares issued, so all proceeds will go directly to the selling shareholder.
• At an implied valuation of around $12 billion, the deal could raise up to Rs 10,000 crore ($1.2 billion), making it one of 2025’s largest listings.
• A historic consortium of 18 merchant bankers—including Morgan Stanley India, Axis Capital, BofA Securities India and Citigroup Global Markets India—will manage the offering.