ICICI Prudential Asset Management Company (AMC) made a strong debut on the Indian stock exchanges today, December 19, 2025, listing at a premium of 20% over its IPO issue price. The IPO, which was open for subscription from December 12 to December 16, 2025, saw the shares list at ₹2,600 on the National Stock Exchange (NSE) and ₹2,606.20 on the Bombay Stock Exchange (BSE). The IPO price was ₹2,165 per share. Following the listing, the stock further escalated, reaching an intraday high of ₹2,626 on the NSE and ₹2,662 on the BSE.

The ₹10,602.65 crore IPO was entirely an offer for sale (OFS) of 4,89,72,994 equity shares by the promoter, Prudential Corporation Holdings. This means that the company will not receive any proceeds from the IPO. The IPO attracted significant investor interest and was oversubscribed 39.17 times. The portion reserved for Qualified Institutional Buyers (QIBs) was subscribed 123.87 times, while Non-Institutional Investors (NIIs) subscribed 22.04 times, and Retail Individual Investors (RIIs) subscribed 2.53 times.

Prior to the listing, the grey market premium (GMP) for ICICI Prudential AMC shares was around ₹520, hinting at a listing price of approximately ₹2,685. However, analysts caution that GMP is an unofficial and unregulated indicator and may not accurately predict actual market performance.

ICICI Prudential AMC is one of India's leading asset management companies, with a quarterly average asset under management (QAAUM) of ₹10,147.6 billion as of September 30, 2025. The company offers a diverse range of investment products, including mutual funds, portfolio management services, and alternative investment funds. As of September 30, 2025, ICICI Prudential AMC managed 143 schemes, including 44 equity and equity-oriented schemes, 20 debt schemes, and 61 passive schemes.

Should You Buy, Sell, or Hold?

Given the strong listing and positive market sentiment, investors are keen to know the best course of action. Here's a look at what factors to consider:

• For Investors Who Received Allotment: Those who were allotted shares in the IPO have already gained significantly from the listing. They may consider booking partial profits to secure some returns, while holding the remaining shares for potential long-term growth.
• Long-Term Growth Potential: The Indian mutual fund industry has a large potential for growth. ICICI Prudential AMC, being a well-established player with a strong brand and a wide range of products, is well-positioned to benefit from this growth.
• Financial Performance: ICICI Prudential AMC has demonstrated steady growth in its top and bottom lines. It is also considered the most profitable AMC in India.
• Valuation: At the listing price, ICICI Prudential AMC is trading at a PE multiple that is lower than HDFC AMC. This may be considered attractive for an asset-light business with a significant opportunity for expansion.

Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Investors should consult their financial advisors before making any investment decisions.