The IPO calendar for December is shaping up to be one of the busiest of the year, with two more companies preparing to hit the primary market. The highly anticipated IPO of ICICI Prudential Asset Management Company is set to open on December 12, followed by CleanMax Enviro Energy Services, which plans to launch its issue in the third week of the month, industry sources told Fortune India.

The momentum in the first week of December has already been strong, with three mainboard companies—Meesho, Aequs, and Vidya Wires—mobilising a total of ₹6,642 crore through their public issues. Another four IPOs, including Wakefit Innovations and three healthcare-focused issues from Nephrocare Health Services, Park Medi World, and Corona Remedies, are set to open for subscription between December 8 and 12, collectively targeting more than ₹3,735 crore.

In 2025 so far, 94 mainboard IPOs have debuted on Dalal Street, raising around ₹1.54 lakh crore. With more than 15 companies planning to garner another ₹30,000 crore in December, the year’s total capital mobilisation is poised to surpass last year’s record ₹1.6 lakh crore.

Here’s all you need to know about ICICI Prudential AMC and CleanMax Enviro Energy IPOs:

The ICICI Prudential Asset Management Company IPO is set to open on December 12, a source said today.

The ICICI Prudential AMC, a 51:49 joint venture between ICICI Bank and U.K.-based Prudential PLC, received approval from the capital markets regulator, Securities and Exchange Board of India (Sebi), last week. The company had filed its IPO papers with Sebi on July 8, 2025. The IPO is entirely an offer for sale (OFS) by the promoter, Prudential Corporation Holdings.

Although the company has not officially disclosed the issue size, reports suggest it is looking to raise up to ₹10,000 crore (approximately $1.2 billion), valuing the asset manager at around $12 billion.

The proposed IPO of the country’s second-largest asset manager by assets under management (AUM) is a pure OFS of 1.76 crore equity shares by Prudential Corporation Holdings (PCHL), representing up to 10% of the company’s equity share capital, according to the DRHP submitted to Sebi. Since there is no fresh issue component, the company will not receive any proceeds from the offer; all proceeds will go to the selling shareholder.

If successful, this IPO would mark the ICICI group’s fifth listed entity, following ICICI Bank, ICICI Prudential Life, ICICI Lombard, and ICICI Securities. It would also become the fifth listed asset management company in India, joining HDFC AMC, Nippon Life India AMC, UTI AMC, Aditya Birla Sun Life AMC, and Shriram AMC.

Meanwhile, CleanMax Enviro Energy Solutions, India’s largest commercial and industrial renewable energy provider, filed its updated draft red herring prospectus (UDRHP) with Sebi on December 4, and plans to launch its public issue by the third week of December, another source told Fortune India.

Last month, the Brookfield-backed renewable energy firm received final observation from Sebi to raise ₹5,200 crore through its IPO. The company had filed its draft red herring prospectus (DRHP) with Sebi on August 16, 2025.

The IPO, with a face value of ₹1 per share, comprises a fresh issue of shares worth up to ₹1,500 crore and an OFS of up to ₹3,700 crore by promoters and existing shareholders. The offer also includes a subscription reservation for eligible employees, who will be entitled to a discount in the employee reservation portion.

As per the DRHP, the company plans to utilise ₹1,125 crore from the fresh issue to repay or prepay certain outstanding borrowings of the company and its subsidiaries. The remaining proceeds will be used for general corporate purposes.

(DISCLAIMER: The views and opinions expressed by investment experts on fortuneindia.com are either their own or of their organisations, but not necessarily that of fortuneindia.com and its editorial team. Readers are advised to consult certified experts before taking investment decisions.)