The much-anticipated initial public offering (IPO) of ICICI Prudential Asset Management Company is all set for its stock market debut on Friday, 19 December 2025. The public issue witnessed overwhelming demand from investors, setting the stage for what analysts predict will be a stable to positive listing on Dalal Street.
Record-Breaking Subscription Numbers
Exchange data reveals that the IPO of ICICI Prudential AMC was subscribed a massive 39.17 times overall. Investors placed bids for a staggering 1,37,14,89,456 shares against the total issue size of 3,50,15,691 shares. The demand was led by institutional players, with the Qualified Institutional Buyers (QIBs) portion getting subscribed 123.87 times. The Non-Institutional Investors (NII) segment booked shares 22.04 times, while retail investors subscribed to the offer 2.53 times.
Analyst Views and Grey Market Premium
Market experts are optimistic about the listing, citing the company's strong pedigree and fair valuations. Shivani Nyati, Head of Wealth at Swastika Investmart, highlighted the advantage derived from its parentage—ICICI Bank and Prudential Plc—which lends significant brand credibility and governance standards.
"In the unofficial market, the grey market premium (GMP) is hovering in the range of 16%, indicating expectations of a stable to positive listing rather than an aggressive debut," Nyati stated. She advises short-term investors to book partial profits and hold the remainder with a stop loss at cost price, emphasizing that the stock is more suited for long-term portfolio allocation.
Prashanth Tapse, Research Analyst at Mehta Equities, expects the shares to list in the range of ₹2,450 to ₹2,500 apiece, a premium of 13-16% over the issue price. He attributes this to strong subscription traction and the company's robust fundamentals.
"With a strong pedigree of ICICI Bank and Prudential, robust digital adoption and low concentration risk across schemes, we believe ICICI Pru AMC could command a premium valuation multiple than its peers," Tapse said. He recommends a 'Hold' strategy for long-term investors, banking on the financialisation of household savings.
IPO Details and Key Takeaways
The IPO was a complete offer for sale (OFS) of 4.90 crore equity shares, aggregating to ₹10,602.65 crore. The issue opened for bidding on 12 December 2025 and closed on 16 December 2025. The price band was fixed between ₹2,061 and ₹2,165 per share, with a lot size of 6 shares.
As of Thursday, 18 December, the grey market premium (GMP) stood at ₹370 per share. With the upper price band of ₹2,165, this suggests a potential listing price of around ₹2,535, marking a 17% premium.
Key points for investors:
- The IPO received phenomenal investor response, subscribed 39 times.
- Experts forecast a listing gain of 13% to 17%.
- The stock is backed by strong parent companies and is viewed as a long-term play.
- Analysts recommend holding for the long term due to the company's dominant market position.
Disclaimer: This article is for informational purposes only. The views are those of individual analysts. Investors are advised to consult certified experts before making any investment decisions, as market conditions are subject to change.
