ICICI Prudential AMC IPO vs KSH International IPO: Which of the two IPOs is a better bet for the investors to ponder in the coming week (GMP and Expert Views Explained)?

The primary market is expected to move at a slow pace next week with as few as two mainboard IPOs to consider for subscription: ICICI Prudential AMC IPO and KSH International IPO. While on Monday, ICICI Prudential AMC IPO will enter its second day of bidding, on Tuesday will witness the market debut of KSH International.

GMP and the views of experts could be helpful to an investor who wishes to play the game. Right now, the informal market sentiment is clearly in favor for ICICI Prudential AMC, but some analysts are of the view that both IPOs appeal to two different profiles of risk.

ICICI Prudential AMC IPO: GMP Shows Strong Demand, Fundamentals Desirable!

Interest in the grey market continues to rise for the ICICI Prudential AMC IPO. As of December 13th, its GMP has reached ₹270, the highest ever. That implies a listing price of nearly ₹2,435, which may offer a good 12.5 % listing gain over the top end of the price band.

Price band: ₹2,061-₹2,165 per share

Issue size: ₹10,602 crores (100% offer for sale)

Day 1 subscription: 72%

Implied valuation by market cap at a higher price band: ~₹1.07 lakh crore

Analysts have put in put weightage on the diversified product mix of 135 schemes offered by the AMC, excellent brand recall, and exceptional financial performance over the years. The company has clocked deliveries of a 24% revenue CAGR over the last four years, declaring an impressive FY25 PAT of ₹26.5 billion and industry-leading ROE of 82.8%.

KSH International IPO: Long-Term Growth Story, Muted GMP

KSH International IPO seems to have zero GMP since couple of days, showing silently muted grey market interest. While looking at the present trends, it can be expected that the listing may happen close to the issue price.

Price Band: ₹365 – ₹384 per share

Issue Size: ₹710 crore

Fresh Issue: ₹420 crore

Offer for Sale: ₹290 crore

Bidding Dates: December 16–18

Analysts remain bullish on a long-term perspective toward KSH International, though they do not see any grey-market action. KSH International engages in various business activities in the power, renewable energy, and electric vehicle ecosystem, manufacturing magnet wires and CTC conductors-essential components in transformers, motors, and electric vehicles.

Having clientele like PGCIL, NTPC, NPCIL, as well as global corporations such as GE, Siemens, Toshiba, and Hitachi, the firm is in a position to reap the benefit of the infrastructure and energy transition in India.

Expert Analysis: Which IPO Should You Apply For?

Expert analysis states that:

Conservative, long-term investors may seem to prefer ICICI Prudential AMC considering that it could probably be comparatively increasing due to growing prospects associated with its large scale, brand, liquidity, and reasonably predictable cash inflow.

High-risk investors, having a long-term horizon, should consider KSH International, considering that it is exposed to the vagaries of commodity price swing, faces severe challenges in executing its capex plan, and is highly unsafe due to customer concentration.

ICICI Prudential AMC strives to offer a safe investment window driven by some rational returns or potentiality for listing gains, while KSH International aims at participating in the structural growth story of India. So the choice would come under higher risk options.

With your personal risk tolerance, investment horizon, and portfolio strategy, the final decision comes down to your hands.