ICICI Prudential AMC share price Highlight: Most brokerages give ‘buy’ tag despite stock finishing below listing price

Shares of the fifth ICICI Group company, ICICI Prudential AMC, made a stellar debut on Dalal Street. The public issue was listed on the NSE at ₹2,600 per share, whereas on the BSE, it was listed at ₹2,606.20 per share. However, after delivering a substantial listing gain of over 20%, the AMC stock came under pressure from profit booking. Finally, it finished below the listing price despite strong value buying at the intraday levels. ICICI Prudential AMC share price ended at ₹2,576.20 on the NSE and ₹2586.70 on the BSE.

The ICICI Prudential AMC share price experienced value buying at lower levels following the profit-booking trigger. After hitting an intraday low at around ₹2,575 levels on the BSE and the NSE, the stock is now close to ₹2,600 levels.

“Brokerage houses hold an optimistic outlook over the long term, underpinned by the AMC’s leadership in the market, reputable brand, and reliable profitability. For short-term trading options, the approximately 20% premium reflects strong market demand and successful pricing relative to the sell-side and retail participation, good for quick execution for a profit opportunity,” said Nilesh Choudhary, Founder and CEO, Aikyam Capital Group.

“For long term investment goals, the profile of one of India's largest AMCs, with a massive network of distribution through ICICI Bank, suggests that there will be continued structural growth, in line with the growth of mutual funds in India. Some brokerages have issued 'Buy' ratings, suggesting a target of around 3000/- per share, which signals around a 40% upside from the IPO price of 2165/- over a period of time,” said Nilesh Choudhary, Founder and CEO, Aikyam Capital Group.

“The stock is trading in a short range, and it is sustaining above its intraday low made after the profit-taking trigger. So, those who want to maximise their listing gain are advised to hold the scrip, maintaining a strict stop loss below today's low and exit as and when they find it appropriate, said Arun Kejriwal, Founder of Kejriwal Research and Investment Services.

“Institutional participation turned into a key support, signalling confidence in ICICI AMC’s consistent track record, diversified product offerings across equity, debt and passive strategies, which showcase its ability to benefit from the long-term structural shift towards financialization of household savings,” said Ravi Singh, Chief Research Officer from Master Capital Services.

"With a strong pedigree of ICICI Bank and Prudential, robust digital adoption and low concentration risk across schemes, we believe ICICI Prudential AMC could command a premium valuation multiple than its peers. Given its dominant market position and long-term tailwinds from the financialization of household savings. Accordingly, we recommend investors to HOLD allotment for the long term,” said Prashanth Tapse, Research Analyst at Mehta Equities.

Despite ICICI Prudential AMC share price dipping below the listing price, most brokerages have assigned a ‘buy’ tag to the ICICI Prudential AMC shares after a bumper debut. Mehta Equities, Swastika Investmart, INVAsset PMS, and Master Capital Services are among them. Prabhudas Lilladher had assigned a ‘subscribe’ tag to the AMC stock ahead of its listing, with a target price of ₹3,000.

“For non-allotted investors, we advise against chasing the stock on listing day and suggest waiting for more reasonable entry levels post listing, as near-term volatility or price consolidation cannot be ruled out amid cautious market sentiment,” said Prashanth Tapse, Research Analyst at Mehta Equities.

“With rising penetration of mutual funds, steady SIP inflows and increasing preference for professionally managed assets, the sector’s growth outlook remains favourable. ICICI AMC with a robust distribution network and focus on profitability place it a potential compounder over time. That said, with post-listing valuation a sustained AUM growth, stable market conditions and cost discipline will be critical factors which will define further upside. From a long-term investor’s perspective, the company offers a strong position in India’s wealth creation journey,” said Ravi Singh, Chief Research Officer from Master Capital Services.

"ICICI Prudential AMC with a robust distribution network and focus on profitability place it a potential compounder over time. That said, with post-listing valuation a sustained AUM growth, stable market conditions and cost discipline will be critical factors which will define further upside. From a long-term investor’s perspective, the company offers a strong position in India’s wealth creation journey," said Ravi Singh, Chief Research Officer at Master Capital Services.

"From a fundamentals perspective, ICICI Prudential stands out for balance-sheet strength and consistency. The company operates with healthy capital adequacy, a solvency position comfortably above regulatory thresholds, and a business mix that supports stable return ratios over cycles. Its return on equity profile, cost discipline, and steady growth in assets under management reflect a franchise built for compounding rather than sharp bursts of performance," said Harshal Dasani, Business Head, INVAsset PMS.

“It is more of a tortoise in the portfolio—slow, steady, and resilient. For investors with a medium-to-long-term horizon, holding such businesses often proves rewarding, as incremental growth, strong governance, and disciplined capital allocation quietly compound value over time, irrespective of short-term market noise,” said Harshal Dasani, Business Head, INVAsset PMS.

ICICI Prudential AMC share price witnessed strong profit-booking at today's high. The newly listed stock is trading at ₹2,585 on the NSE after reaching an intraday high of ₹2,626.

The company is among India’s leading asset management firms, backed by ICICI Bank and Prudential Plc, with a diversified presence across equity, debt, hybrid, and passive fund segments. Its strong brand equity, consistent investment performance, and extensive distribution network have enabled it to build a resilient and scalable asset management franchise," said Shivani Nyati of Swastika Investmart.

“Structural tailwinds such as increasing SIP inflows, deeper penetration of mutual funds in tier-2 and tier-3 cities, and growing preference for professionally managed investments support long-term prospects. Short-term Investors and traders may consider booking profits after the strong listing gains, while long term investor may holding the position from a medium-to-long-term perspective, keeping a stop-loss near ₹2350 to protect downside risk,” said Shivani Nyati, Head of Wealth at Swastika Investmart.

Shares of the fifth ICICI Group company, ICICI Prudential AMC, made a stellar debut on Dalal Street. The public issue was listed on the NSE at ₹2,600 apiece, whereas on the BSE, it was listed at ₹2,606.20 apiece. ICICI Prudential AMC shares further escalated after this bumper debut, reaching an intraday high of ₹2,626 apiece on the NSE and ₹2,662 on the BSE.

ICICI Prudential AMC shares are showing around 20% listing gain for allottees in the pre-listing session. ICICI Prudential AMC share price is showing a price discovery of ₹2600 on the NSE and ₹2606.20 on the BSE.

According to market observers, the grey market is signalling that the ICICI Prudential AMC share price may open at ₹2705 ( ₹2165 + 540).

According to market observers, ICICI Prudential AMC shares are now available at a premium of ₹540 in the grey market today, which is ₹20 higher than the early morning GMP of ₹520 apiece.

On whether the AMC stock will continue to attract fresh buyers post-strong debut, Arun Kejriwal said, "The ICICI Prudential AMC IPO was offered at attractive valuations, and it seems that ICICI Prudential AMC shares may list at ₹525 to ₹540 apiece. If this happens, the newly listed stocks may not remain cheaper.

Prabhudas Lilladher is bullish on the stock due to the company's strong business prospects, driven by its robust performance and parentage, which is resulting in the highest net equity flow market share among AMCs.

Ahead of the listing of the ICICI Prudential Asset Management Company (AMC) stock on Friday, December 19, brokerage firm PL Capital has initiated coverage on it with a buy rating. The brokerage firm has fixed the target price of ₹3,000, valuing the stock at a multiple of 38 times on September 2027 core earnings per share (EPS). Meanwhile, the ICICI Prudential AMC IPO allotment date is likely today. i.e., Wednesday, December 17. The public issue was subscribed to over 39 times, and shares of the company are trading at a premium of ₹304 in the grey market today.

“The issue is worth around ₹10,000 crore, which is huge. Despite this, the public issue received a strong response from the Indian primary market investors. I personally believe that ICICI Prudential AMC share price will make a debut on Dalal Street at a premium of ₹525 to ₹540 per share,” said Arun Kejriwal, Founder of Kejriwal Research and Investment Services.

Prashanth Tapse, Research Analyst at Mehta Equities, expects that the shares of the ICICI Prudential AMC are set to be listed in the range of ₹2,450-2,500 apiece, marking a premium of 13-16% over the issue price, fueled by the strong subscription traction and investor interest.

Shivani Nyati of Swastika Investmart expects the shares of the company to be listed with a 16% listing gain on Dalal Street, indicating a stable to positive listing rather than an aggressive debut.

Shivani Nyati, Head of Wealth at Swastika Investmart, said that ICICI Prudential Asset Management Company is backed by strong parent firms ICICI Bank and Prudential Plc, giving the company a significant advantage in brand credibility, distribution reach, and governance standards.

According to Investorgain.com, ICICI Prudential AMC IPO listing price would be around Ea 2685, which is around 24% higher than upper price band of ICICI Prudential AMC IPO.

According to Investorgain.com, ICICI Prudential AMC IPO GMP today is ₹520, which means the grey market is signaling that ICICI Prudential AMC IPO listing price would be around ₹2,685 apiece.

After the announcement of ICICI Prudential AMC IPO listing date, the grey market has gone highly bullish on the AMC shares. According to investorgain.com, ICICI Prudential AMC IPO GMP today is ₹520, which is ₹70 higher than yesterday's ICICI Prudential AMC IPO GMP of ₹450.

According to the information available on the investorgain.com, shares of the company are available at a premium of ₹520 in the grey market today.

After the allotment, the investor focus is now on ICICI Prudential AMC IPO listing. The listing date for ICICI Prudential AMC IPO is today, December 19. Shares of the company will list on both BSE and NSE.