ICICI Prudential AMC IPO GMP Surges On Day 2; Issue Fully Subscribed - GMP Hints At Nearly 14% Listing Gain
The ICICI Prudential AMC IPO is set to list on the BSE and NSE, with a tentative listing date of Dec. 19.
ICICI Prudential Asset Management Company, which opened its initial public offering (IPO) on December 12 to raise over Rs 10,600 crore from the primary market, saw its grey market premium rise immediately after subscription began on Monday. On the first day, the IPO was subscribed 0.72 times, with investors bidding for 2,53,66,506 shares against the 3,50,15,691 shares on offer, according to NSE data.
The IPO was fully subscribed on Monday, with investors bidding for 3,74,85,936 shares against the 3,50,15,691 on offer - subscribing 1.07 times as of 10:54 a.m.
ICICI Prudential AMC’s IPO is the fourth-largest of 2025 by issue size, after Tata Capital, HDB Financial Services and LG Electronics India, targeting to raise over Rs 10,000 crore through an offer-for-sale (OFS).
ICICI Prudential AMC IPO GMP Today
The grey market premium (GMP) for the ICICI Prudential AMC IPO was Rs 297 as of 10:30 a.m. on Dec. 15, according to InvestorGain. Considering the IPO’s upper price band of Rs 2,165, the estimated listing price stands at Rs 2,462 (cap price plus the latest GMP), implying an expected gain of 13.72% per share.
Note: GMP does not represent official data and is based on speculation.
ICICI Prudential AMC IPO Day 2 Subscription Status
The IPO was subscribed 1.07 times as of 10:54 a.m. on Dec 15
Qualified Institutional Buyers (QIBs): 1.97 times
Non Institutional Investors(NIIS): 1.41 times
Retail Individual Investors (RIIs): 0.40 times
ICICI Prudential AMC IPO Key Details
The ICICI Prudential AMC IPO is a book-built offer of Rs 10,602.65 crore, consisting entirely of an offer-for-sale (OFS) component of 4.9 crore shares.
The IPO’s price band is set at Rs 2,061 to Rs 2,165 per share. Retail investors can apply for a minimum of one lot of six shares, translating to a minimum investment of Rs 12,990. Small Non-Institutional Investors (S-NIIs) must bid for at least 16 lots, or Rs 2,07,840, while High Net-Worth Investors (HNIs) need to subscribe for a minimum of 77 lots, amounting to Rs 10,00,230.
UK-based promoter Prudential Corp. is selling over 1.76 crore equity shares through the IPO. Each share has a face value of Rs 1.
The subscription period for the ICICI Prudential AMC IPO opened on Dec. 12. The bidding period closes on Dec. 16, with allotment expected on Dec. 17. Shares will be credited to the demat accounts of successful applicants on Dec. 18, and refunds for non-allottees will also be processed on the same day. The IPO is tentatively scheduled to list on the BSE and NSE on Dec. 19.
Citigroup Global Markets India is acting as the book-running lead manager, with KFin Technologies serving as the registrar.
ICICI Prudential AMC Business And Financials
ICICI Prudential AMC is an asset management company, incorporated in 1993. It has a wide presence across India, with 272 offices in 23 states and four union territories. The company provides portfolio management services, alternative investment funds and advisory services to offshore clients. It manages the largest number of schemes in the mutual fund industry. As of Sept. 30, 2025, ICICI Prudential AMC has 143 schemes.
Use Of Proceeds
Since this is an offer-for-sale (OFS), ICICI Prudential AMC will not receive proceeds from the IPO.
Financials
ICICI Prudential AMC posted a profit after tax of Rs 1,617.74 crore for the six months ended Sept. 30, 2025, marking a 22% increase compared with Rs 1,327.11 crore in the same period in 2024. Its total income increased 20% year-on-year to Rs 2,949.61 crore, up from Rs 2,458.23 crore a year earlier.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
