ICICI Pru AMC IPO day 3: GMP jumps as bidding ends in a few hours! Subscription status, review, apply or not?

ICICI Prudential AMC IPO day 3: The initial public offering (IPO) of ICICI Prudential AMC opened on December 12, 2025, and will remain open for bidders until December 16, 2025. So, investors have just one day to apply for the public issue. The asset management company (AMC) has announced the ICICI Prudential AMC IPO price band, ranging from ₹2061 to ₹2165 per share. The AMC aims to raise ₹10,602.65 crore from this public issue, which is entirely an Offer for Sale (OFS). This means the net proceeds of the ICICI Prudential AMC IPO will not be reflected in the company's balance sheet, but will instead go into the pockets of the promoters who are offloading their shareholding through this public offer.

ICICI Prudential AMC IPO GMP today

According to market observers, shares of the company are available at a premium of ₹294 apiece in the grey market today. This means ICICI Prudential AMC IPO GMP today is ₹294, which is ₹14 higher than Monday's ICICI Prudential AMC IPO GMP of ₹280. If we examine Friday's ICICI Prudential AMC IPO GMP of ₹120, the grey market sentiment has skyrocketed regarding the ICICI Prudential AMC IPO GMP. Market observers noted that the rise in the GMP of the ICICI Prudential AMC IPO is commendable, despite cautious sentiments in the secondary market. They stated that the increase in ICICI Prudential AMC IPO GMP can be attributed to the attractive face value of the company and the reasonable price band, which signals a prudent approach by the company promoters.

ICICI Prudential AMC IPO subscription status

By 5:27 PM on the third day of bidding, the public issue had been subscribed 39.17 times, the retail portion of the public issue had been booked 2.53 times, the NII segment had been booked 22.04 times, whereas the QIB portion had been filled 123.87 times.

ICICI Prudential AMC IPO details

The AMC has declared a price band of ₹2,061 to ₹2,165 apiece for the book-building issue. The asset management company aims to raise ₹10,602.65 crore from this public issue, which is entirely an OFS. A bidder will be able to apply in lots, and one lot of the public issue comprises six company shares.

The most likely ICICI Prudential AMC IPO allotment date is 17 December 2025, and the most likely ICICI Prudential AMC IPO listing date is 19 December 2025.

ICICI Prudential AMC IPO review

Assigning a 'subscribe' tag to the public issue, Angel One report says, "At the upper price band of ₹2,165, the IPO values ICICI Prudential AMC at a post-issue P/E of 33.07x FY25 earnings, indicating that the issue is fully priced. However, the company’s leadership across active and individual AUM, strong profitability and return ratios, a debt-free balance sheet, and supportive industry tailwinds provide healthy visibility for compounding. We therefore recommend a “Subscribe” rating for long-term investors."

DRChoksey FinServ has also assigned an 'apply' tag to the public issue, saying, "The company prioritises organic expansion by enhancing investment track records and amplifying reach via digital direct channels and distributor partnerships. It is scaling its high-potential alternative segment (PMS/AIFs) through targeted mergers, exemplified by the pending Business Transfer Agreement for acquiring Category II AIF schemes. International forays include a GIFT City IFSC outpost (with a ' No Objection’ from SEBI) and explorations in the DIFC. These moves align with India’s rising equity penetration and household financialization trends. Valuation: Premium multiples reflect IPAMC’s AUM leadership, operational excellence, and 82.8% FY25 ROE—outpacing peers. Subscribe for its fortified growth runway in a burgeoning asset management landscape."

Adroit Financial Services, Invest4Edu, Kantilal Chhaganlal Securities, Aditya Birla Money, Anand Rathi, Arihant Capital Markets, BP Equities, Canara Bank Securities, DR Choksey FinServ, Master Capital Services, Mehta Equities, RR Financial, Sharekhan, and SMIFS have also assigned an 'apply' tag to the ICICI Prudential AMC IPO.

“With structurally high ROEs, minimal capex, strong operating leverage, and bank-backed distribution strength, ICICI Prudential AMC enjoys competitive positioning few peers can match. At 37x FY25 P/E, it trades below HDFC AMC and Nippon despite a superior ROE. As a scaled market leader in a rapidly financialising economy, ICICI Prudential AMC is strategically placed to mirror India’s long-term wealth-creation cycle through sustained earnings compounding,” said Sachin Jasuja, Head of Equities & Founding Partner at Centricity WealthTech.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.