ICICI Prudential AMC Listing: Shares Debut On Dalal Street At 20% Premium Over Issue Price

ICICI Prudential Asset Management Company made its D-street debut on December 19, 2025, with shares opening at a notable premium of about 20% over the initial public offering (IPO) price.

Listing Performance on Exchanges

Shares of the asset management firm debuted on the National Stock Exchange (NSE) at Rs 2,600, reflecting a 20.09% gain over the upper end of the IPO price band of Rs 2,165. On the Bombay Stock Exchange (BSE), the stock opened at Rs 2,606.20, marking a 20.38% premium.

Post-listing, the shares saw further movement, reaching intraday highs around Rs 2,660-2,662 on both exchanges. The company's market capitalisation reached approximately Rs 1.3 lakh crore following the debut.

Comparison to Grey Market Expectations

The listing premium, while robust, came in below some pre-listing grey market signals. Market tracking websites indicated unlisted shares were trading at premiums suggesting potential gains of 17-25% ahead of the debut.

ICICI Prudential AMC IPO Subscription Overview

The Rs 10,602.65 crore initial public offering, open from December 12 to 16, 2025, was entirely an offer-for-sale by Prudential Corporation Holdings, with no fresh funds raised for the company.

The issue was subscribed 39.17 times overall. Bids totaled over 1.37 billion shares against around 35 million offered, attracting applications worth nearly Rs 3 lakh crore, as per market tracking websites.

Qualified Institutional Buyers oversubscribed their portion 123.87 times.
Non-Institutional Investors booked 22.04 times.

Retail investors subscribed 2.53 times their reserved quota.

Strong participation came from institutional segments, including 19 of 20 domestic mutual funds in the anchor portion.

Gains for Allotted Investors

Retail allottees receiving the minimum lot of six shares realised paper gains of around Rs 2,610-2,647 per lot based on opening prices. Higher allocations for non-institutional investors translated to proportionally larger immediate returns.

The debut highlighted continued demand for established asset managers in India's growing mutual fund industry.

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