Mumbai: ICICI Prudential Asset Management Company (AMC) made headlines today as its Initial Public Offering (IPO) debuted on the stock market with spectacular gains for investors. The IPO, which had a face value of ₹1 per share, was listed at ₹2,606.20 on the BSE, giving early investors an impressive 20.38% profit on the very first day.
The shares had been offered at ₹2,165 each during the IPO, meaning investors earned ₹441.20 per share on listing day. This IPO, valued at ₹10,602 crore, ranks among the largest in 2025 and was oversubscribed a staggering 39.17 times.
Grey Market Premium (GMP) Surge
Ahead of the listing, the share’s grey market premium (GMP) had reached around 24.62%, or ₹533 per share, reflecting strong market enthusiasm.
Strong Investor Response
The IPO received tremendous support from institutional investors, underscoring confidence in India’s largest asset management company. Qualified Institutional Buyers (QIBs) oversubscribed their quota nearly 124 times, Non-Institutional Investors (NIIs) by 22 times, and retail investors by 2.53 times. Shares reserved for ICICI Bank shareholders saw approximately 10 times subscription.
Offer-for-Sale Structure
The IPO was entirely an Offer-for-Sale (OFS), with 4.90 crore shares sold. No fresh capital will accrue to the company from this listing, with ICICI Bank and Prudential Corp retaining over 90% ownership. Pre-IPO, the company’s market capitalization was estimated at around ₹1.07 lakh crore.
About ICICI Prudential AMC
ICICI Prudential AMC is India’s largest asset management firm, leading in active mutual fund assets. As of 30 September 2025, the company managed over ₹10.1 lakh crore in quarterly average assets. Its services include mutual funds, portfolio management, alternative investment funds, and advisory solutions, supported by a nationwide network of 272 offices.
Financial Performance
The company has demonstrated strong financial growth. In FY25, revenue increased by 32%, while profit after tax (PAT) rose by 29%. For the six months ending September 2025, PAT stood at ₹1,617.74 crore. The business operates on a capital-light model, generating substantial cash flows and delivering one of the highest return ratios in the industry, with RoE exceeding 80%. At the IPO price, the stock trades at approximately 33 times post-issue earnings.
ICICI Prudential AMC’s listing underscores robust investor confidence in India’s asset management sector and highlights the company’s market leadership.
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