The initial public offering (IPO) of ICICI Prudential Asset Management Company continued to gather momentum on Day 2, supported by a sharp rise in grey market premium (GMP) and improving subscription numbers.
The IPO opened for subscription on December 12, 2025, and will remain open until December 16, 2025.
ICICI Prudential AMC IPO Key Details
- Price Band: ₹2,061 – ₹2,165 per share
- Issue Size: ₹10,602.65 crore
- Issue Type: 100% Offer for Sale (OFS)
- Lot Size: 6 shares per lot
- Allotment Date (Expected): December 17, 2025
- Listing Date (Expected): December 19, 2025
Since the issue is entirely an OFS, the proceeds will go to the selling shareholders and not to the company’s balance sheet.
ICICI Prudential AMC IPO GMP Today
The grey market sentiment for ICICI Prudential AMC has strengthened notably.
As per market participants, the IPO GMP today stands at ₹280 per share, reflecting strong listing expectations.
Notably, the GMP has jumped sharply from ₹120 on Friday to ₹280, indicating rising confidence despite the muted retail response in early bidding.
At the upper price band of ₹2,165, the estimated listing price based on GMP hints at a potential debut near ₹2,445, though grey market trends are unofficial and volatile.
ICICI Prudential AMC IPO Subscription Status (Day 2)
By 12:33 PM on Day 2, the public issue had been subscribed 1.28 times, showing steady improvement from Day 1.
Category-wise Subscription
- Qualified Institutional Buyers (QIBs): 1.98x
- Non-Institutional Investors (NIIs): 1.96x
- Retail Individual Investors (RIIs): 0.55x
- Overall Subscription: 1.28x
Institutional interest remains strong, while retail participation is still picking up pace.
ICICI Prudential AMC IPO Review
Brokerage houses have largely taken a positive stance on the issue, citing the company’s strong market position and consistent profitability.
What Analysts Say
Master Capital Services recommends subscribing to the IPO, highlighting the company’s leadership in equity and hybrid mutual fund segments, expanding alternatives business, and strong brand presence. The brokerage views the IPO as a suitable long-term investment opportunity.
Sharekhan has also assigned a ‘Subscribe’ rating, stating that the IPO is valued at around 40x FY25 earnings at the upper price band, which it considers reasonable compared to industry peers.
Several other brokerages, including Anand Rathi, Aditya Birla Money, Arihant Capital Markets, Canara Bank Securities, SMIFS, and BP Equities, have also advised investors to apply.
Apply or Not? Investment Outlook
ICICI Prudential AMC is among India’s most profitable asset management companies, backed by strong parentage, consistent AUM growth, and a diversified product portfolio.
- Positives:
- Strong institutional demand
- Rising GMP indicates positive listing sentiment
- Market leadership and stable earnings profile
- Concerns:
- Entire issue is OFS
- Valuations are on the higher side
- Retail participation remains modest so far
Verdict
For investors with a medium to long-term horizon, the IPO appears attractive. Short-term investors may also find listing gains appealing, but should remain mindful of overall market conditions.