Alongside its quarterly earnings announcement, ICICI Prudential AMC declared an interim dividend of ₹30 per share to equity shareholders, representing a record payout that is more than double the ₹14.85 interim dividend announced in January 2026. As per ET Now, the record date for dividend eligibility is fixed for October 21, 2026, meaning shareholders whose names appear in the register of members or depository records as beneficial owners on this date will be eligible to receive the dividend. Based on the announced dividend, an investor holding 100 shares of ICICI Prudential AMC would be eligible to receive ₹3,000 as an interim dividend, provided the investor meets the company's eligibility requirements. The company had also paid a final dividend of ₹12.40 per equity share in June for the financial year ended March 31, 2026. This represents an increase of around 102% from the previous interim dividend, marking the highest-ever interim dividend approved by the company. Over the past 12 months, ICICI Prudential AMC has declared dividends amounting to ₹27.25 per share at the current share price of ₹2,912.75, with its dividend yield standing at 0.93%.
ICICI Prudential AMC shares settled 0.9% lower at ₹2,912.75 in the previous trading session following the dividend announcement, as reported by ET Now. The stock had previously gained around 2% on Tuesday following the company's strong quarterly results announcement, with shares opening positively at ₹2,999.10 and surging to ₹3,018.10 as investors responded to the company's robust financial performance. The asset management company's shares have gained more than 14% from their listing price since debuting in December at a 20% premium over the IPO price of ₹2,600 apiece. The positive market reaction reflects investor confidence in the company's consistent growth trajectory and operational improvements, though recent trading reflects some profit-taking after the strong quarterly performance.
ICICI Prudential Asset Management Company Limited reported strong financial results for the July-September quarter of FY 2026-27. According to reports from CNBC TV18, The Hindu BusinessLine, NDTV Profit, and Business Standard, the company's net profit increased 6.08% year-on-year to ₹889 crore compared to ₹838 crore in the corresponding quarter of the previous fiscal year. The asset management company demonstrated robust operational growth with revenue from operations rising 16.31% from ₹1,439.06 crore in the year-ago quarter, reaching ₹1,673.79 crore in the latest quarter. For the six months ended September 30, 2026, the company reported a 14.3% YoY increase in PAT to ₹1,854 crore, compared with ₹1,622 crore in the corresponding period of the previous financial year. However, other income declined significantly by 76% to ₹169 crore from ₹719 crore in the previous year, primarily due to mark-to-market valuations on treasury investments, surplus cash deployments, or seed capital investments in its own mutual fund schemes.
Jefferies has highlighted the alternatives business as a key growth driver, with the company's alternatives quarterly average AUM reaching ₹81,000 crore, largely equally split across PMS, AIF, and advisory segments. According to Jefferies, the PMS business benefited from higher inflows into small- and mid-cap funds during the quarter, while within AIFs, ICICI AMC already has private credit, real estate and private equity funds, with pre-leased offices being a potential area of opportunity. The investment bank expects the company's assets under management (AUM) to expand at 17% compounded annual growth rate (CAGR) over FY26 to FY29, with earnings could increase at 14% CAGR as the AMC continues to invest in portfolio management services (PMS) and alternative investment funds (AIF), and newer initiatives like specialised investment funds (SIF). Jefferies noted that the company has lower exposure to small- and mid-cap funds, lesser concentration of funds, and continues diversifying into PMS/AIFs, making it well-positioned for sustained growth.
ICICI Prudential AMC's quarterly average AUM rose 14.4% YoY to ₹11.61 lakh crore in the quarter ended September 30, 2026, from ₹10.15 lakh crore a year earlier, with its market share standing at 13.3%. The company's active AUM jumped 11% to ₹9.59 lakh crore from ₹8.63 lakh crore in the year-ago quarter. In actively managed mutual funds, QAAUM increased 11.1% YoY to ₹9.59 lakh crore, with the segment maintaining a market share of 13.3%. Assets in equity and equity-oriented schemes rose 16.3% YoY to ₹6.59 lakh crore from ₹5.67 lakh crore, with a market share of 13.7%, while equity-oriented hybrid schemes recorded a 20% increase in QAAUM to ₹2.29 lakh crore from ₹1.91 lakh crore. According to Business Standard, MF QAAUM in the quarter under review grew by around 4% Q-o-Q to ₹11.6 trillion led by liquid (10%), passives (4.6%), and active equity (4.4%), while revenue yields improved to 57.5bps. However, Systematic Investment Plan (SIP) inflows declined 3% to ₹4,672 crore from ₹4,803 crore as most investors paused their SIP due to negative returns in the last few months.
Following ICICI Prudential AMC's September-quarter results, major brokerages have issued positive ratings with revised target prices offering significant upside potential. According to The Economic Times and Business Standard, Jefferies maintained its Buy rating and raised its target price to ₹3,760 from ₹3,600, following the better-than-expected September quarter performance. The brokerage noted that operating profit beat estimates by 3% due to better yields, with net profit 6% higher than expectations led by higher other income. Jefferies highlighted accelerating growth in mutual fund assets and raised its FY27-FY29 earnings estimates by 1-2%, citing improved yields and the company's expanding alternatives business. JM Financial maintained its positive outlook noting that revenue was up 18% YoY with yields edging up, supported by the growing alternates business with slightly higher alternates yield on real estate fund drawdowns. However, the brokerage cut FY27-29 EPS estimates by 3% each due to moderated systematic transactions. Emkay Global Financial has also reiterated its 'Buy' call on ICICI Prudential AMC, with a target price of ₹3,800, citing the company's strong brand and distribution capabilities. As per Emkay Global Financial's latest research report dated October 13, 2026, the brokerage maintains a BUY rating and September 2027 target price of ₹3,800, implying an FY28E PER of ~43x. The management sees opportunities in the smallcap space and will gradually open up the midcap segment at an appropriate time.
