ICICI Prudential AMC makes a strong stock market debut; shares list at 20% premium

ICICI Prudential AMC IPO: Shares of ICICI Prudential Asset Management Company (AMC) made a strong Dalal Street debut on Friday, December 19 as the leading asset management player kicked-off its maiden trading session at Rs 2,606.20 on BSE, premium of 20.38 per cent over its issue price of Rs 2,165. Similarly, the stock was settled with a premium of 20.09 per cent at Rs 2,600 on BSE.

The listing of ICICI Prudential AMC has been slightly below the expectations. Ahead of its listing, shares of ICICI Prudential AMC were commanding a grey market premium (GMP) of Rs 520-530 apiece, suggesting a listing pop of 24 per cent for the investors. Its GMP was seen consistently rising since the closure of the issue.

As of the listing price, retail investors, who got a single lot of six shares, made a profit of Rs 2,647.2 on their investment. Similarly, HNI shareholders, who got 15 lots consisting of 90 equity shares, made a profit of Rs 39,708 on their investment of Rs 2,07,840. Eligible shareholders of ICICI Bank, who made full application of 90 shares and got 9 or 10 shares, made a profit of Rs 3,970.2 or Rs 4,412.

The IPO of ICICI Prudential AMC was open for bidding between December 12 and December 16. It had offered its shares in the price band of Rs 2,061-2,165 per share with a lot size of six shares. It raised a total of Rs 10,602.65 crore via IPO, which was entirely an offer-for-sale (OFS) up to 4,89,72,994 equity shares by Prudential Corp (UK).

The issue was overall subscribed a total of 39.17 times, attracting bids nearly Rs 2.97 lakh crore through more than 55.07 lakh applications. It became the fourth highest subscribed IPO of Indian history and 19 out of 20 domestic mutual funds participated in its anchor book.

Incorporated in 1993, Mumbai-based ICICI Prudential AMC is an asset management company, whose investment approach has been to manage risk first and aim for long term returns for their customers. It has an active quarterly average asset under management (QAAUM). As of September 30, 2025, it has an QAAUM of 10,147.6 billion.

Analysts and brokerage firms continue to remain positive on the stock and see this as a long-term bet. Citigroup Global Markets India, Goldman Sachs (India), ICICI Securities, Morgan Stanley India, BofA Securities, Avendus Capital, Axis Capital, BNP Paribas and CLSA India are among the 18 the book running lead manager and Kfin Technologies is the registrar of the issue.