ICICI Prudential AMC IPO Final Subscription At 39 Times; GMP Signals 15% Listing Gain

The initial public offering of ICICI Prudential Asset Management Co. was subscribed 39.17 times on the third and final day of its public offering on Tuesday.

The IPO was a book-building issue of Rs 10,602.65 crore. It comprised only an offer-for-sale (OFS) of 4.9 crore shares. The price band for the IPO was Rs 2,061 to Rs 2,165 per share.

There was no fresh issue component and all the proceeds from the IPO will go to the selling promoter UK-based Prudential Corp.

ICICI Prudential AMC's IPO is the fourth-largest IPO of 2025 by issue size, following Tata Capital Ltd., HDB Financial Services Ltd., and LG Electronics India Ltd.

The company is India's largest asset manager in terms of assets managed under active mutual fund schemes, equity and equity-oriented schemes and for domestic non-corporate discretionary portfolio management service, as per the draft red herring prospectus.

The date of allotment of shares to the IPO will be finalised on Wednesday. The stock will list on the BSE and NSE on Friday.

The ICICI Prudential AMC IPO was subscribed 39.17 times at 7:00 p.m. on Tuesday.

• Qualified Institutional Buyers (QIBs): 123.87 times

• Non-Institutional Investors (NIIS): 22.04 times

• Retail Individual Investors: 2.53 times

• Reservation for ICICI Bank shareholders: 9.75 times.

ICICI Prudential AMC IPO's latest grey market premium rose to Rs 325 from Rs 302 earlier, according to Investorsgain website. The GMP indicates a listing price of Rs 2,490 apiece, which means upon listing, ICICI Prudential AMC may offer 15% additional gains to investors.

Note: GMP does not represent official data and is based on speculation.

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.