Editor’s Note
As ICICI Prudential AMC prepares to launch its ₹10,600 crore IPO—the fifth group company to list—investors should note this is entirely an Offer for Sale with no fresh issue. With a valuation pegged at ₹1.07 lakh crore, understanding lot sizes, quotas, and inherent risks is crucial before considering investment. The issue opens on December 12.
The fifth company of the ICICI Group is set to be listed in the market. This Rs 10,600 crore IPO has no fresh issue component; it is entirely an Offer for Sale (OFS). The company’s valuation has been pegged at Rs 1.07 lakh crore. If you are also thinking of investing in it, understand everything here about lot size, quotas, and risks.
ICICI Prudential AMC’s IPO will open on December 12.
The stock market is set to buzz again as the country’s second-largest fund house brings its IPO. The Initial Public Offering (IPO) of ICICI Prudential Asset Management Company (AMC) is set to open for subscription from December 12, 2025. This will be the fifth company from the ICICI Group to be listed on the stock market. Before this, ICICI Bank, ICICI Prudential Life, ICICI Lombard, and ICICI Securities (now delisted) have already entered the market. If you are also planning to invest in this IPO, you must know these five most important things related to this issue before taking out your checkbook.
First, note the dates. This IPO will open for retail investors on December 12 and will remain open until December 16, 2025. Bidding for anchor investors will open on December 11 itself. The company has set the price band for this IPO at Rs 2,061 to Rs 2,165 per share. A retail investor must purchase a minimum of one lot of 6 shares. This means if you bid at the upper price band, you will need to invest a minimum of Rs 12,990. Retail investors can apply for a maximum of 13 lots.
It is very important for investors to know that this IPO is entirely an ‘Offer for Sale’ (OFS). This means the entire Rs 10,600 crore raised from the IPO will not be used for the company’s operations or expansion. This money will go to the company’s promoter, i.e., ‘Prudential Corporation Holdings’ (UK), which is selling its stake. ICICI Bank is not selling any of its shares in this IPO; in fact, the bank is separately buying a stake to maintain its hold in the company.
If you already hold shares of ICICI Bank, there is good news for you. This IPO has a separate quota or reservation for ICICI Bank shareholders. Those who held the bank’s shares as of the date of filing the Red Herring Prospectus (RHP) can apply under this quota. Often, the chances of getting an allotment in the shareholder quota are slightly better than in the general retail category. Additionally, 35 percent of the issue is reserved for retail investors.
ICICI Prudential AMC is the country’s second-largest fund house, with an average Assets Under Management (AUM) of over Rs 10.87 lakh crore. Financially, the company appears strong. In the first half of the financial year 2025 (April-September), the company earned a net profit of Rs 1,618 crore, which is about 22 percent higher than last year. Based on the price band of this IPO, the company’s total valuation has been estimated at Rs 1.07 lakh crore. This valuation makes it the second most valuable listed AMC after HDFC AMC.
There has been a slight change in the grey market numbers before the IPO opens. According to updates until 10:17 AM on December 9, 2025, the Grey Market Premium (GMP) for ICICI Prudential AMC is Rs 105. If we add today’s GMP to the upper price band of Rs 2,165, the estimated listing price of the share comes to around Rs 2,270. Looking at it this way, investors can expect a profit or listing gain of about 4.85 percent per share. This indicates that there might not be a very heavy surge on listing, but the possibility of a positive start remains.
