ICICI Prudential AMC IPO Opens Today: Should You Subscribe? Here's What Yes Securities Says

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Yes Securities Report

The ICICI Prudential AMC IPO was subscribed 5% so far on Friday.

Issue Details:

ICICI Prudential Asset Management Company Ltd. launched its initial public offering today, December 12 and the offer closes for subscription on Dec. 16.

India’s largest asset manager by active QAAUM with a 13.3% market share has fixed the price band in the range of Rs 2,061 to Rs 2,165 per equity share with a face value of Rs 1.

The Rs 10,602.7-crore issue is an entirely offer-for-sale of 4.9 crore shares. Since the IPO is entirely an OFS, proceeds from the offer will go directly to the selling shareholders.

To participate in the IPO, retail investors are required to bid for a single lot size of six shares, amounting to a minimum investment of Rs 12,990 per application based on the upper limit of the issue price.

Citi Group Global Markets, Morgan Stanley are the book-running lead managers for the public issue while Kfin Technologies is the registrar to the offer.

Yes Securities recommends 'Subscribe' on the ICICI Prudential AMC IPO, backed by strong profitability metrics and a disciplined, process-driven approach to equity research and fund management.

While the company prioritizes profitability over aggressive AUM growth, its outlook for AUM expansion remains healthy. Additionally, ICICI Pru AMC’s open and adaptive internal culture is fostering growth in alternate assets, positioning it well for long-term value creation.

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