New Delhi. Although the year 2025 was in the name of IPO and dozens of new companies entered the Indian stock market. But, in the last month of the year, such an IPO is going to come, in which even before reaching the market, many veteran investors of India and the world have invested money. In its pre-IPO round, 26 major investors including Prashant Jain, Jhunjhunwala family, Madhusudan Kela have invested about Rs 5 thousand crores.
We are talking about ICICI Prudential Asset Management, India’s largest asset management company, which has received an investment of approximately Rs 4,815 crore in pre-IPO placement. The company’s IPO will hit the market tomorrow. As of September 30, 2025, its market share has been 13.3%. The company, in consultation with the book running lead managers of the IPO, has made a private placement of 22,240,841 equity shares at an issue price of Rs 2,165 per equity share in lieu of cash payment.
Many stalwarts are included among the investors
Investors in the company’s pre-IPO include Lunet Capital (Abu Dhabi-based sovereign fund), late Rakesh Jhunjhunwala’s property company, Regents of the University of California – IIFL Asset Management, Serv Investments, 3P India Equity Fund (managed by Prashant Jain), PI Opportunities Fund – II, 360One Funds, DSP India Fund, WhiteOak Capital India Opportunities. Big names like Fund, HCL Capital, Manish Chokani and Madhusudan Kela are included. Apart from this, insurance companies like SBI Life Insurance Company, HDFC Life Insurance Company, Kotak Life Insurance Company, Aditya Birla Sun Life Insurance Company, Bajaj Life Insurance Company, Tata AIG General Insurance Company and Go Digit General Insurance also participated in the pre-placement. ICICI Bank has also invested Rs 2,140 crore for an additional 2% stake in the company.
How much AUM does the company have?
The total value of its mutual fund QAAUM as of September 30, 2025 was Rs 10,147.6 billion and it was the largest asset management company in terms of equity and equity-oriented QAAUM with 13.6% market share. As of September 30, 2025 and March 31, 2025, 2024 and 2023, the market share of its equity-oriented hybrid schemes was 25.8%, the largest in India. As of September 30, 2025, the monthly average managed assets of the company’s mutual funds which were allocated to individual investors (including retail investors and high net worth individuals) stood at Rs 6,610.3 billion.
What is the financial condition of the company?
AMCs accounted for about 20% of the industry’s operating profit in 2025, making it the biggest profit earner among Indian asset managers. The company recorded OPBT of Rs 3,236 crore for FY25, which was 19% higher than HDFC. This gap increased to 26% in H1FY26, when the company reported OPBT of Rs 1,933 crore. Further, with a proposed valuation of Rs 1,07,000 crore, the P/E is estimated at 40.4 times on multiple of FY2025 and 33.1 times on multiple of FY2026 multiples.
