ICICI Pru AMC IPO: Price ₹2130, GMP ₹350, Opens December 12
India’s largest and most profitable Asset Management Company, ICICI Prudential Asset Management Company (AMC), is gearing up to launch its much-awaited IPO. This public issue, estimated at around ₹10,700 crore, is expected to be one of the biggest financial-sector listings of the year.
With SEBI giving its approval, the IPO is set to open in the second week of December. Here are the important dates, expected price, strong financial numbers, and the current Grey Market Premium (GMP).
ICICI Prudential AMC IPO: Key Details & Dates
The IPO is an Offer For Sale (OFS), which means the money raised will go to the promoter, Prudential, and not to the company. This sale is part of the UK-based company’s plan to reduce its shareholding.
Expected IPO Timeline (Tentative)
- IPO Opening Date: Friday, December 12, 2025 (expected)
- IPO Closing Date: Tuesday, December 16, 2025
- Expected Price Per Share: ₹2,130 (as per market estimates)
- Listing Date: Expected in the third week of December.
Issue Structure
- Issue Type: OFS of 1,76,52,090 shares (up to 10% stake)
- Promoters: ICICI Bank (51% stake) and Prudential Corporation Holdings
- Listing On: BSE and NSE
- Retail Investor Reservation: 35% of the net issue
ICICI Prudential AMC GMP and Expected Listing Price
The IPO has strong grey market demand due to the company’s clear leadership in the mutual fund industry.
- Current GMP: ₹350 per share
- Expected Listing Price: ₹2,130 + ₹350 = ₹2,480
- Potential Listing Gain: Around 16.4%
What makes ICICI Prudential Special?
ICICI Prudential AMC is not only the largest AMC in India, it is also the most profitable, making it attractive for long-term investors.
Market Dominance (As of March 31, 2025)
- Largest AMC: Holds a strong market share of 13.3% based on active mutual fund QAAUM.
- Strong AUM Growth: Total QAAUM reached ₹8,79,410 crore, growing at a CAGR of 32.7% between FY23–FY25.
- Retail Focus: Serves 14.6 million individual investors, with a major focus on SIPs.
Financials of ICICI Pru AMC (₹ Crores)
| Particulars | FY 2023 | FY 2025 | Key Metric |
|---|---|---|---|
| Revenue | 2,837.35 | 4,977.33 | Growing at 32.7% CAGR |
| Net Income (Profit) | 1,515.78 | 2,650.66 | Profit grew at 32.2% CAGR |
| Return on Net Worth (RoNW) | 70.0% | 82.8% | Highest among peers |
| EPS (Earnings Per Share) | 85.9 | 150.2 | — |
Comparison with Listed Peers
The company’s returns and earnings are significantly better than its competitors, which supports its premium valuation.
- ICICI Prudential AMC: EPS ₹150.2, RoNW 82.8%
- HDFC AMC: EPS ₹114.8, RoNW 32.4%
- Nippon India AMC: EPS ₹20.0, RoNW 31.4%
Conclusion
This IPO offers a strong opportunity to invest in India’s growing mutual fund industry. With market leadership, high profitability, and strong efficiency, ICICI Prudential AMC stands out among financial-sector companies.
Analysts are expected to give a ‘Subscribe’ rating due to the company’s potential for long-term growth and the attractive GMP-backed listing gains. Investors can consider this IPO for both short-term and long-term returns.
Before applying, make sure your credit score and personal details are updated to avoid any issues during allotment: