ICICI Prudential AMC IPO Opens: Moderate Start With 5% Subscription; GMP Steady at 7.5% — Key Dates & Updates

The ICICI Prudential AMC IPO opened for subscription on December 12, drawing early interest across retail, NII and shareholder categories. Within the first hour, the issue saw 5% overall subscription, signalling a steady — though not aggressive — response from investors.

The grey market premium (GMP) remains stable at around 7–7.5%, indicating moderate listing expectations. The IPO is priced between ₹2,061 and ₹2,165 per share and will remain open until December 16. Allotment is scheduled for December 17, demat credit on December 18, and listing on December 19.

This is a pure offer-for-sale by Prudential Corp, with a minimum lot size of six shares. Investors can apply through UPI apps, broker platforms or ASBA.

ICICI Prudential AMC, India’s largest asset management company with ₹10.15 trillion QAAUM, holds a 13.3% market share in active mutual funds and operates one of the country’s widest distribution networks with 272 offices and over 1.1 lakh distributors.

Analysts remain positive about the company’s strong fundamentals, return ratios and expanding product suite but caution that high valuations may limit near-term listing gains. Experts suggest the issue may be better suited for long-term investors rather than those seeking quick upside.

Live Subscription Status (as of 11:56 AM)

Total: 0.05x

Shareholder: 0.09x

Retail: 0.06x

NII: 0.06x

QIB: 0.00x

GMP Update

GMP rises to 7.4%

Key Strengths

Disciplined, risk-calibrated investment approach

Strong multi-channel distribution

Diversified and expanding product suite

Growing alternates business

Robust digital adoption

Financial Highlights

Revenue: ₹2,689 cr (FY23) → ₹4,683 cr (FY25)

PAT: ₹1,516 cr → ₹2,651 cr

ROE: ~83%, among the highest in financial services

Key Risks

Regulatory changes

Rising competition from AMCs & fintechs

Pressure on fees due to passive products

Market-driven income volatility