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ICICI Prudential AMC IPO Listing: Fourth-most bid IPO of India makes a strong Dalal Street debutAt the conclusion of the IPO, ICICI Prudential AMC was the fourth-most bid IPO in Indian history, following LG Electronics India's ₹4.4 lakh crore, Bajaj Housing Finance of ₹3.2 lakh crore, and Reliance Power.By Meghna Sen  December 19, 2025, 10:01:59 AM IST (Updated)2 Min ReadShares of ICICI Prudential Asset Management Company made a strong debut on Dalal Street on Friday, December 19, listing at a premium of 20% in comparison to its issue price.

ICICI Prudential AMC shares began trading at ₹2,600 per share, higher than their issue price of ₹2,165 apiece. The stock has made a high of ₹2,656 in early trading, a jump of 22% from the issue price.

Unlisted market reports were projecting the stock to list at a premium of up to 18% from its issue price.

Adding to the positive sentiment, ICICI Prudential AMC has received its first initiation of coverage ahead of listing.

PL Capital has initiated coverage on the stock with a ‘Buy’ rating and a target price of ₹3,000, indicating an upside of about 39% from the IPO price.

In addition to PL Capital, Equirus also initiated coverage on the stock a day before its listing with a "long" rating and a price target of ₹2,900, implying a potential upside of 34% from the issue price.

The ₹10,603-crore IPO closed on December 16 after being subscribed nearly 39 times.

Qualified institutional buyers led demand, subscribing to their portion about 124 times, while non-institutional investors subscribed around 22 times. Retail investors subscribed 2.53 times, and the shareholder quota was taken up close to 10 times.

The issue was priced in the range of ₹2,061 to ₹2,165 per share and comprised an offer for sale of 4.90 crore equity shares.

At the conclusion of the IPO, ICICI Prudential AMC was the fourth-most bid IPO in Indian history, following LG Electronics India's ₹4.4 lakh crore, Bajaj Housing Finance of ₹3.2 lakh crore, and Reliance Power.

ICICI Bank currently holds a 51% stake in ICICI Prudential AMC, while joint venture partner Prudential owns the remaining 49%.

Citigroup Global Markets India, Axis Capital, BofA Securities India, Morgan Stanley India Company, IIFL Capital Services, CLSA India, Kotak Mahindra Capital Company, Nomura Financial Advisory and Securities, and SBI Capital Markets are the book-running lead managers for the issue.

The listing will make ICICI Prudential AMC the fifth ICICI Group entity to be traded on Indian stock exchanges, after ICICI Bank, ICICI Prudential Life, ICICI Lombard, and ICICI Securities.Continue ReadingNote To ReadersDisclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.First Published: Dec 18, 2025 6:35 AM ISTTagsICICI Prudential AMCIPOshare market today