Prudential Sells ₹4,900 Crore Stake in ICICI Prudential AMC

“At the upper price band, the company is valued at 32.8x FY25 P/E, implying a post-issue market capitalisation of ₹53,559 million. They aim to tap into the growing demand for affordable, high-quality healthcare by expanding their hospital network through both organic growth and strategic acquisitions. They are focused on improving occupancy at existing hospitals and scaling operations at newer facilities by investing in high-end equipment, advanced technology, new clinical programs, and additional skilled medical professionals. A key element of their strategy is to attract and retain qualified and experienced doctors, consultants, and medical professionals, thereby maintaining and enhancing the quality of care they provide. Considering these factors, the IPO appears fairly valued and is rated “Subscribe – Long Term.””

“Because of this trend, mutual fund assets (AUM) compared to bank deposits increased from 19.7% in March 2020 to 28.7 per cent in March 2025, showing rising investor interest. Mutual fund QAAUM rose by more than Rs 13 lakh crore in one year—from Rs 54.1 lakh crore in March 2024 to a record Rs 67.4 lakh crore in March 2025. By September 2025, it had further increased to Rs 77.1 lakh crore”

“On the financial front, the company has demonstrated Revenue CAGR growth of 5.4% between FY23 and FY25, led by the rapid expansion of its hospital network, both organically and through the acquisition of multiple operating subsidiaries across Haryana, Delhi NCR, Punjab, and Rajasthan. Overall, the company’s growth outlook is underpinned by network expansion via brownfield and greenfield projects, deeper penetration of high-margin specialities, and operating leverage from maturing hospitals. At the upper end of the price band at Rs. 162, the company is valued at a P/E multiple of 29.2x FY25 earnings. We, thus, recommend a "SUBSCRIBE" rating for this issue.”