ICICI Prudential AMC IPO GMP Today: Grey Market Signals Ahead of Listing

ICICI Prudential Asset Management Company is set to make its stock market debut on Thursday, with investor attention firmly focused on expected listing gains amid strong demand during the IPO bidding period.

The allotment for the IPO was finalised on Wednesday, following robust participation from institutional investors over the three-day subscription window. While retail interest remained moderate, heavy buying from qualified institutional buyers (QIBs) significantly boosted overall subscription levels.

Strong Subscription Led by Institutions

The ICICI Prudential AMC IPO was subscribed 39.17 times overall. The retail investors’ portion saw 2.53 times subscription, while the non-institutional investor (NII) category was subscribed 22.04 times. Demand from QIBs stood out, with subscriptions reaching 123.87 times, excluding anchor investors.

The strong institutional response has reinforced confidence around the stock’s listing performance. Investors can check their allotment status on the websites of the registrar Kfin Technologies or the BSE.

Grey Market Premium Signals Healthy Listing

Grey market trends indicate positive sentiment ahead of the listing. As of December 18, the ICICI Prudential AMC IPO was commanding a grey market premium (GMP) of Rs 370.

Based on the upper issue price of Rs 2,165 per share, the implied listing price is around Rs 2,535, suggesting potential gains of approximately 17% on debut.

Market participants note that the rising GMP reflects sustained demand for the issue, which attracted bids for more than 1.37 billion shares, valued at nearly Rs 2.97 lakh crore, against an offer size of just over 3.5 crore shares.

IPO Structure and Key Details

The IPO was a book-built issue worth Rs 10,602.65 crore and consisted entirely of an offer for sale of 4.90 crore shares. As a result, ICICI Prudential AMC will not receive any fresh capital from the listing, with existing shareholders partially monetising their holdings.

The issue opened for subscription on December 12 and closed on December 16. Shares are scheduled to list on both the BSE and NSE on December 19.

At the upper price band, retail investors needed a minimum investment of Rs 12,990 for one lot of six shares. Small non-institutional investors were required to apply for at least 96 shares, while large NIIs had to bid for a minimum of 462 shares.

Investor Caution Advised

Despite strong grey market signals, analysts continue to advise investors to assess the company’s long-term fundamentals and business outlook rather than relying solely on short-term listing gains.