Prudential Targets $12 Billion Valuation for ICICI Prudential Asset Management IPO
Prudential Plc is reportedly exploring a $12 billion valuation for ICICI Prudential Asset Management Co. in a potential initial public offering (IPO) in India. According to sources, the company may file its initial draft prospectus for the Mumbai listing as early as May 2025.
Prudential’s IPO Plans for ICICI Prudential
- The IPO could be one of the largest asset management listings in India.
- Bloomberg previously reported that Prudential had hired Citigroup Inc. to assist in the IPO process.
- The offering is expected to raise about $1 billion, with Prudential planning a partial divestment.
While discussions are ongoing, sources indicate that there is no certainty of the IPO taking place.
Ownership & Market Position
ICICI Prudential Asset Management is jointly owned by:
- ICICI Bank Ltd. – India’s second-largest private-sector lender.
- Prudential Plc. – A UK-based global insurer.
Potential Market Impact
If the IPO proceeds, it could mark a significant milestone in India's financial markets, attracting domestic and global investors. The listing aligns with India’s growing asset management sector and the increasing demand for wealth management solutions.
Official Statements
While Prudential declined to comment on the speculation, ICICI Bank has yet to respond to requests for a statement.
Market participants will closely watch the developments leading up to the potential IPO filing in May.
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