The high-profile initial public offering (IPO) of ICICI Prudential Asset Management Company (AMC) is heading into its final day. The public issue, which opened for subscription on December 12, 2025, will close for investors on December 16, 2025. This leaves potential bidders with just one final day to participate in what is one of the largest public offers in the Indian asset management space.
IPO Details and Grey Market Sentiment
The company has set a price band of ₹2,061 to ₹2,165 per equity share. Through this offering, which is entirely an Offer for Sale (OFS), the AMC aims to raise a substantial ₹10,602.65 crore. It is crucial for investors to note that since it's a pure OFS, the proceeds will go to the selling promoters and not to the company's coffers.
Market sentiment, as gauged by the grey market premium (GMP), has shown remarkable strength. On the penultimate day of the IPO, the GMP stood at ₹294 per share. This marks a significant jump from ₹280 on Monday and a massive surge from ₹120 recorded last Friday, indicating soaring investor interest despite cautious broader market conditions.
Subscription Figures and Analyst Recommendations
By the end of the second day of bidding, the overall issue was subscribed 2.11 times. The subscription breakdown revealed strong institutional interest: the Qualified Institutional Buyer (QIB) portion was booked 2.91 times, and the Non-Institutional Investor (NII) segment saw robust demand at 3.79 times. The retail investor portion was subscribed 0.83 times.
Leading brokerage firms have largely endorsed the issue with a 'Subscribe' rating for long-term investors. Angel One noted that while the IPO is fully priced at a post-issue P/E of 33.07x FY25 earnings, the company's leadership in assets under management (AUM), strong profitability, and a debt-free balance sheet justify the rating.
DRChoksey FinServ echoed a positive view, highlighting the company's focus on organic expansion, digital channels, and forays into international markets like GIFT City IFSC. They attributed the premium valuation to ICICI Prudential AMC's operational excellence and a stellar return on equity (ROE) of 82.8% for FY25.
Key Dates and Final Takeaways
Investors who apply should note the tentative timelines. The allotment date is expected to be December 17, 2025, followed by the listing on the stock exchanges on December 19, 2025. Bidding is done in lots, with one lot comprising six shares of the company.
The consensus among experts is clear: the ICICI Prudential AMC IPO, backed by strong fundamentals and favorable industry trends, presents a viable opportunity for investors with a long-term horizon. The consistent rise in the grey market premium further underscores the positive market buzz surrounding the offer.
Disclaimer: This news article is for informational purposes only. The views and recommendations mentioned are those of individual analysts or brokerage firms. Readers are strongly advised to consult with certified investment experts before making any financial decisions.
