ICICI Prudential AMC IPO GMP: Rs 10,603-crore IPO subscribed 2x on Day 2, check latest GMP

ICICI Prudential AMC IPO GMP Live: Check latest GMP

Ahead of listing, the unlisted shares of the company were trading with 12.38% grey market premium (GMP) over the IPO price, according to data on Investorgain. The GMP has slightly fallen from the 13.49% quoted by the site earlier yesterday.

ICICI Prudential AMC IPO GMP Live: Check Day 2 closing subscription status

• Qualified Institutional Buyers (QIBs) — 2.91 times
• Non Institutional Investors(NIIS) — 3.79 times
• Retail Individual Investors (RIIs) — 0.83 times
• Shareholder — 2.84 times

Total — 2.11 times

ICICI Prudential AMC IPO GMP Live: Check latest subscription status

• Qualified Institutional Buyers (QIBs) — 2.21 times
• Non Institutional Investors(NIIS) — 3.38 times
• Retail Individual Investors (RIIs) — 0.78 times
• Shareholder — 2.42 times
• Total — 1.79 times

ICICI Prudential AMC IPO GMP Live: How to increase chances of allotment

The shareholder reservation and retail/HNI categories function independently, allowing investors to place two applications at the same time. An applicant may first bid under the ICICI Bank shareholders' reservation for up to 90 shares. Separately, they can also apply as a retail investor with an investment of up to Rs 2 lakh, or under the sNII or bNII category if the bid amount exceeds Rs 2 lakh. Each application is processed independently and does not count as a duplicate.

Shareholder applications up to Rs 2 lakh are eligible to use the cut-off price option. Opting for the cut-off can improve the likelihood of allotment, as it keeps the bid valid regardless of where the final issue price is fixed within the price band. Joint demat account holders can also apply, provided the first holder of the demat account is the ICICI Bank shareholder on record.

To improve allotment prospects, choosing the right mix of categories is key. In oversubscribed IPOs, the shareholder reservation often offers an advantage, as competition is restricted to a smaller pool comprising only ICICI Bank shareholders.

ICICI Prudential AMC IPO GMP Live: Day 2 subscription so far - Check latest BSE data

Qualified Institutional Buyers (QIBs) -- 2.14

Non Institutional Investors(NIIS) -- 2.46

Retail Individual Investors (RIIs) -- 0.65

Reservation Portion Shareholder -- 1.95

Total -- 1.50

ICICI Prudential AMC IPO GMP Live: What's the latest grey market premium?

According to InvestorGain, the latest grey market premium (GMP) for the ICICI Prudential AMC IPO stands at Rs 265, as of 11:57 am on December 15, 2025. Based on the upper price band of Rs 2,165, the IPO's estimated listing price is around Rs 2,430, implying an expected gain of about 12.24% per share.

ICICI Prudential AMC IPO GMP Live: Digital adoption

ICICI Prudential AMC has embraced digital transactions, with over 95% of new purchases now done online, according to research reports.

ICICI Prudential AMC IPO GMP Live: Distribution network

Distribution continues to be a core strength. The company operates 272 branches across India and leverages ICICI Bank's network of over 7,000 branches to expand reach. In FY25, it was the highest generator of individual investor AUM in India, with retail and HNI clients contributing over 60% of its mutual fund book.

ICICI Prudential AMC IPO GMP Live: Revenue and profitability

The AMC generates high-yield fees, with more than half its AUM in equity-oriented schemes, which typically offer higher margins. It also has a fast-growing alternatives business, including PMS, AIFs, and offshore advisory. ICICI Prudential AMC remains the most profitable AMC in India, with a FY25 ROE of 82.8% and EBITDA margin of 73%.

ICICI Prudential AMC IPO GMP Live: Business overview

ICICI Prudential AMC manages Rs 10.1 lakh crore of active mutual fund assets and holds a 13.3% market share, as per disclosures in the offer note. The company has shown strong growth across equity and hybrid categories, with a three-year CAGR of over 32% in both revenue and profit.

ICICI Prudential AMC IPO GMP Live: Day 2 subscription so far - Check latest BSE data

Qualified Institutional Buyers (QIBs) -- 1.97

Non Institutional Investors(NIIS) -- 1.48

Retail Individual Investors (RIIs) -- 0.43

Reservation PortionShareholder -- 1.23

Total -- 1.10

ICICI Prudential AMC IPO Day 2: Issue fully subscribed by 10:42 am on Day 2 as NII, shareholder demand strengthens

ICICI Prudential Asset Management Company’s Rs 10,603-crore IPO reached full subscription by mid-morning on Day 2 of bidding, driven by sustained institutional demand and a sharp pickup in the non-institutional investor (NII) and shareholder categories. According to consolidated NSE and BSE data, ICICI Prudential AMC IPO was subscribed 1.00 time as of 10:42 am on Monday, with bids for 3.50 crore shares against 3.5 crore shares on offer. (Read More)

ICICI Prudential AMC IPO GMP Live: Key risks and investment outlook

Key risks for the company include potential regulatory changes, intensifying competition from both traditional asset management companies and fintech platforms, fee compression due to the rising preference for passive investment products, and market volatility that could affect fund flows and profitability.

Despite these challenges, the company's leadership in India's long-term savings market, strong profitability, and steadily growing investor base make the IPO a direct play on the structural growth of the asset management industry. However, elevated valuations and the absence of a fresh capital raise suggest the offering is primarily suited for long-term investors rather than those seeking short-term listing gains.

ICICI Prudential AMC IPO GMP Live: Day 2 subscription so far - Check latest BSE data

Qualified Institutional Buyers (QIBs) -- 1.97

Non Institutional Investors(NIIS) -- 0.94

Retail Individual Investors (RIIs) -- 0.30

Reservation PortionShareholder -- 0.87

Total -- 0.91

ICICI Prudential AMC IPO GMP Live:Swastika Investmart rates IPO as subscribe

Swastika Investmart has given a Subscribe recommendation for the IPO, highlighting ICICI Prudential AMC's diversified presence across equity, hybrid, debt, SIPs, and passive products, along with its industry-leading financial ratios. The brokerage points to the strong brand equity of ICICI Bank and Prudential, stable fee income, and high operating leverage as key positives.

Swastika further notes that the AMC's 82.8% return on equity (ROE) and 73% EBITDA margin position it among the most efficient players in the industry, making the IPO attractive for long-term investors despite being fully priced relative to peers.

ICICI Prudential AMC IPO GMP Live: Brokerage view on valuation and outlook

Brokerages remain largely positive on the IPO, while cautioning that valuations appear on the higher side. Anand Rathi has assigned a Subscribe (Long Term) rating, citing the asset manager's strong market share, high profitability, and consistent growth as factors that support the pricing.

The brokerage noted that at the upper end of the price band, the IPO values the company at around 40 times FY25 earnings, broadly in line with peers such as HDFC AMC and Nippon Life India AMC. Leadership in equity-oriented assets under management and a structural shift towards long-term investing are seen as key positives underpinning the long-term outlook.

ICICI Prudential AMC IPO GMP Live: Assets under management and market position

As of September 30, 2025, the company managed Rs 10,147.6 billion in total mutual fund assets on a quarterly average basis. This made it India’s largest asset manager by active mutual fund QAAUM, with a 13.3 per cent market share, according to a CRISIL report.

ICICI Prudential AMC IPO GMP Live: Company overview

ICICI Prudential Asset Management Company (ICICI Pru AMC) is among India's leading and oldest asset managers. As of September 30, 2025, the fund house catered to 15.5 million investors and offered a diversified lineup of 143 mutual fund schemes, comprising 44 equity and equity-oriented funds, 20 debt schemes, 61 passive funds, 15 domestic fund-of-funds (FoFs), along with select liquid, overnight, and arbitrage products.

ICICI Prudential AMC IPO GMP Live: Offer for sale structure

As the issue is structured entirely as an offer for sale (OFS), the company will not receive any proceeds from the public offering. The entire amount will be paid directly to the promoter selling shareholder, Prudential Corporation Holdings Limited.

ICICI Prudential AMC IPO GMP Live: Who are the book running lead managers for the public offer

Citigroup Global Markets India Private Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited, Axis Capital Limited, CLSA India Private Limited, IIFL Capital Services Limited (formerly IIFL Securities Limited), Kotak Mahindra Capital Company Limited, Nomura Financial Advisory and Securities (India) Private Limited, SBI Capital Markets Limited, ICICI Securities Limited, Goldman Sachs (India) Securities Private Limited, Avendus Capital Private Limited, BNP Paribas, HDFC Bank Limited, JM Financial Limited, Motilal Oswal Investment Advisors Limited, Nuvama Wealth Management Limited, and UBS Securities India Private Limited.

ICICI Prudential AMC IPO GMP Live: Harshal Dasani's view on ICICI Prudential AMC IPO

Commenting on the ICICI Prudential AMC IPO, Harshal Dasani, Business Head at INVAsset PMS, described the company as a profitable and cash-generative franchise with strong brand equity and a robust distribution network. He added that liquidity and prospects for index inclusion are favourable, while business risks are largely confined to market-cycle sensitivity rather than execution challenges.

ICICI Prudential AMC IPO GMP Live: Expert view on investor suitability

Harshal Dasani, Business Head at INVAsset PMS, said that conservative and long-only investors may consider prioritising ICICI Prudential AMC, citing the company's quality, scale and strong liquidity profile.

ICICI Prudential AMC IPO GMP Live: Analyst view on ICICI Prudential AMC

Commenting on ICICI Prudential AMC, Abhinav Tiwari, Research Analyst at Bonanza, said the company has a well-diversified product portfolio with 135 schemes, ensuring that no single fund dominates its offerings. He noted that the AMC has delivered consistently strong financial performance, with revenue growing at a 24 per cent CAGR over the past four years, outpacing peers. According to him, profitability remains robust, with FY25 profit after tax at Rs 26.5 billion and an industry-leading return on equity of 82.8 per cent, adding that valuations appear reasonable considering the company's scale, stability and earnings strength.

ICICI Prudential AMC IPO GMP Live: Issue management and registrar details

Citigroup Global Markets India is acting as the book-running lead manager for the issue, while Kfin Technologies has been appointed as the registrar.

ICICI Prudential AMC IPO GMP Live: Shareholding and listing significance

Currently, ICICI Bank holds a 51 per cent stake in ICICI Prudential AMC, while Prudential owns the remaining 49 per cent, PTI reported. On listing, the company will join other listed asset managers such as HDFC AMC, UTI AMC, Aditya Birla Sun Life AMC, Shriram AMC and Nippon Life India Asset Management, and will become the fifth ICICI Group entity to be listed after ICICI Bank, ICICI Prudential Life, ICICI Lombard and ICICI Securities.

ICICI Prudential AMC IPO GMP Live: Offer-for-sale structure and timeline

The IPO is entirely an offer-for-sale of over 4.89 crore shares by promoter Prudential Corporation Holdings of the UK. Since no fresh shares are being issued, the company will not receive any proceeds from the offering. The issue is scheduled to close on December 16.

ICICI Prudential AMC IPO GMP Live: Anchor book and valuation details

Ahead of the issue opening, ICICI Prudential AMC raised Rs 3,022 crore from anchor investors, according to PTI. The IPO has a price band of Rs 2,061 to Rs 2,165 per share, valuing the asset manager at around Rs 1.07 lakh crore ($11.86 billion).

ICICI Prudential AMC IPO GMP Live: Subscription status on Day 1

As per NSE data, the IPO received bids for 2,53,66,506 shares against 3,50,15,691 shares on offer. The qualified institutional buyers' portion was subscribed 1.97 times, while the non-institutional investors' segment saw 37 per cent subscription. Retail individual investors subscribed 21 per cent of their allotted quota.

ICICI Prudential AMC IPO GMP Live: Day 2 of ICICI Prudential AMC IPO begins

Good morning and welcome to Moneycontol. Today marks Day 2 of the initial public offering of ICICI Prudential Asset Management Company Ltd, an arm of ICICI Bank, after the issue was subscribed 72 per cent on the first day of bidding on Friday.