The much-anticipated stock market debut of ICICI Prudential Asset Management Company is finally here. After a successful share allotment process concluded on Wednesday, December 17, 2025, the company's shares are scheduled for listing on the domestic bourses this Friday, December 19. The listing will take place on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), marking a significant event for investors and the Indian financial sector.
Robust Investor Demand and Grey Market Buzz
The public offering, which was open for subscription from December 12 to December 16, witnessed an overwhelming response from investors across categories. The issue was subscribed a massive 39.17 times overall. The demand was led by qualified institutional buyers (QIBs), who bid for shares 123.87 times the portion reserved for them. Non-institutional investors subscribed 22.04 times, while retail investors put in bids for 2.53 times their allotted quota.
Ahead of the formal listing, the grey market premium (GMP) for the IPO shares has surged, indicating strong investor sentiment. According to market observers at Investorgain, the shares are commanding a premium of ₹454 in the grey market. This GMP suggests an estimated listing price of around ₹2,619 per share, which would be approximately 21% higher than the upper end of the IPO price band of ₹2,165.
IPO Details and Offer Structure
The ICICI Prudential AMC initial public offering was entirely an Offer for Sale (OFS) of 4.90 crore equity shares, amounting to a total issue size of ₹10,602.65 crore. The selling shareholder was Prudential Corporation Holdings Limited. The price band for the issue was set between ₹2,061 and ₹2,165 per share, with a minimum lot size of six shares.
Since it was a pure OFS, the company will not receive any proceeds from the issue; all funds will go to the selling shareholder. The basis of allotment was finalized on Wednesday, December 17, and Kfin Technologies Limited acted as the registrar to the issue.
What Investors Should Watch For
The listing day performance will be closely watched, not just for this issue but also as a sentiment indicator for the broader market and future financial sector offerings. The strong GMP and oversubscription point towards a healthy listing gain. However, investors are advised to note the following key points:
- The IPO saw exceptionally strong demand from institutional investors.
- The grey market premium is a strong, albeit unofficial, indicator of initial demand.
- Post-listing performance will depend on company fundamentals, market conditions, and broader economic factors.
A consortium of prominent investment banks acted as the book-running lead managers for the issue, including ICICI Securities, Citigroup, Morgan Stanley, Goldman Sachs, Axis Capital, and Kotak Mahindra Capital, among others.
Disclaimer: This news article is for informational purposes only. It is not investment advice. Readers are strongly encouraged to consult with a certified financial advisor before making any investment decisions.
