ICICI Prudential AMC IPO lists at 20% premium
What's the story
ICICI Prudential Asset Management Company (AMC) made a strong debut on the stock market today, with its shares opening at a 20% premium over the IPO price. The stock started trading at ₹2,606.2 on BSE and ₹2,600 on NSE against an issue price of ₹2,165. The stellar listing comes after a strong response from institutional investors during the company's initial public offering (IPO).
Subscription details
ICICI Prudential AMC's IPO oversubscribed by 39 times
The IPO of ICICI Prudential AMC was oversubscribed by nearly 39 times, with institutional investors leading the charge. The qualified institutional buyer (QIB) portion was subscribed 123.87 times, while non-institutional investors and retail investors subscribed their portions 22.04 times and 2.53 times, respectively. The shareholder category, reserved for ICICI Bank shareholders, was also heavily subscribed at nearly 10 times.
Market entry
ICICI Prudential AMC's market debut and future prospects
With its market debut, ICICI Prudential AMC has become the fifth ICICI Group company to list on Indian exchanges. Ahead of the listing, PL Capital had given a 'buy' call with a target price of ₹3,000 per share. The brokerage said it is optimistic about the company's business prospects due to its strong performance and parentage driving high net equity flow market share among AMCs.
Financial growth
ICICI Prudential AMC's financial performance and asset management
ICICI Prudential AMC is India's largest active asset manager with a quarterly average assets under management of ₹10 lakh crore as of September 2025. The company has shown consistent financial growth, with revenue from operations increasing by 32% YoY in FY25 and profit after tax rising by 29%. Its return on equity was over 80%, highlighting the asset-light nature of its business.
Business diversification
ICICI Prudential AMC's diversified asset management platform
ICICI Prudential AMC operates a diversified asset management platform across mutual funds, portfolio management services, alternative investment funds, and offshore advisory services. The company manages 143 schemes across various categories and has a wide distribution footprint with 272 offices nationwide. Despite the IPO being an offer-for-sale (OFS) of over 4.89 crore shares by promoter Prudential Corporation Holdings (UK), market participants see this listing as a step toward unlocking value in India's asset management sector.