Updated on 07.12.2025 @ 10:40 AM
ICICI Prudential Asset Management Company is set to launch its mainboard Initial Public Offering (IPO) on December 12, 2025.
If you're tracking upcoming and ongoing IPOs, you can also refer to our updated IPO Calendar for all key listings.
It is India's largest AMC by active mutual fund assets, making it a strong player for investors who regularly follow industry updates. To explore more insights, guides, and comparisons across mutual funds, visit our Mutual Fund Hub.
The issue is a 100% Offer for Sale (OFS) by its promoter, Prudential Corporation Holdings Limited, with no fresh capital being raised by the company.
The price band has been fixed at ₹2,061 to ₹2,165 per share, with a minimum lot size of 6 shares.
As a market leader with zero debt and best-in-class profitability, this IPO is generating significant interest.
If you're evaluating returns or planning long-term investments alongside IPO allocations, our SIP Calculator can help you project potential wealth creation easily.
In this article, you will find ICICI Prudential AMC IPO GMP today, subscription status, allotment date, price band, and a detailed, unbiased review to help you make an informed decision.
Briefs of ICICI Prudential AMC IPO Details
- Price Band: ₹2,061 – ₹2,165 per share
- IPO Open / Close Dates: December 12, 2025 – December 16, 2025
- Lot Size: 6 Shares
- Issue Size: 4,89,72,994 shares (aggregating to approx. ₹10,600 Crores at upper band)
- Fresh Issue / OFS: 100% Offer for Sale
- Registrar: Kfin Technologies Ltd.
- Listing Exchange: BSE & NSE
What is The ICICI Prudential AMC IPO GMP Today?
Check the gmp of this and other IPOs at our grey market premium hub page. (GMP is an unofficial indicator that reflects market sentiment).
What Are the ICICI Prudential AMC IPO Dates & Allotment Schedule?
- IPO Open & Close Date: December 12, 2025 – December 16, 2025
- Basis of Allotment Date: December 17, 2025
- Refund Initiation Date: December 18, 2025
- Credit of Shares: December 18, 2025
- Listing Date: December 19, 2025
What Are The Objectives of ICICI Prudential AMC IPO?
This is the most critical point for investors to understand. The IPO is a 100% Offer for Sale. This means:
- The company, ICICI Prudential AMC, will not receive any proceeds from the public issue.
- The entire amount raised will go directly to the selling shareholder, Prudential Corporation Holdings Limited, who is monetizing a part of their investment.
How is The Financial Performance of ICICI Prudential AMC?
The following table summarizes the company's financial performance based on restated consolidated data.
(Amounts in ₹ Crores)
| Particulars | Period Ended 30 Sep 2025 | Year Ended 31 Mar 2025 | Year Ended 31 Mar 2024 | Year Ended 31 Mar 2023 |
Total Income | 2,949.61 | 4,979.67 | 3,761.21 | 2,838.18 |
Profit After Tax (PAT) | 1,617.74 | 2,650.66 | 2,049.73 | 1,515.78 |
EBITDA | 2,210.10 | 3,636.99 | 2,780.01 | 2,072.58 |
Total Borrowing | 0.00 | 0.00 | 0.00 | 0.00 |
Assets | 4,827.34 | 4,383.68 | 3,554.09 | 2,804.76 |
Source: RHP
Key Financial Observations:
Profit After Tax (PAT):
ICICI Pru AMC has demonstrated robust profit growth, with PAT increasing by nearly 30% in FY25 to ₹2,650.66 Crores. This growth is driven by the scaling of its assets under management (AUM) and a high-margin product mix.
Total Income:
Revenue has consistently grown, reaching ₹4,979.67 Crores in FY25, fueled by higher fee income from equity-oriented schemes. The momentum continues in the first half of FY26 with income touching nearly ₹3,000 Crores.
EBITDA:
The company boasts exceptional operational efficiency, being the most profitable AMC in India by operating profit. Its EBITDA margins are best-in-class, reflecting the scalability of its platform.
Total Borrowings:
A standout feature is the company's zero-debt status across all reported periods. This capital-light model ensures that all operational cash flows are available for growth or shareholder returns.
Assets:
Total assets have grown steadily to ₹4,827.34 Crores, primarily comprised of liquid investments.
The high asset base supports the company's financial stability and regulatory requirements.
P/E Ratio & Peer Comparison
Based on its Fiscal Year 2025 diluted earnings per share (EPS) of ₹53.6, the IPO is priced at a Price-to-Earnings (P/E) multiple of approximately 40.4x at the upper end of the price band (₹2,165).
| Company Name | P/E Ratio | Revenue (FY25, ₹ Cr) | RoNW (%) (FY25) |
ICICI Prudential AMC (at IPO price) | ~40.4x | 4,977.33 | 82.8% |
| HDFC AMC | 45.2x | 3,498.44 | 32.4% |
| Nippon Life India AMC | 41.0x | 2,230.69 | 31.4% |
| UTI AMC | 19.8x | 1,851.09 | 16.3% |
| Aditya Birla Sun Life AMC | 22.5x | 1,684.78 | 27.0% |
Analysis for Investors:
ICICI Prudential AMC commands a premium valuation, trading at a P/E of roughly 40x.
However, this is justified by its superior financial metrics.
Its Return on Net Worth (RoNW) of 82.8% is staggering—nearly double or triple that of its closest peers like HDFC AMC and Nippon Life.
This indicates unparalleled efficiency in generating profits for shareholders, making the valuation appear fair relative to the quality of the business.
Industry Outlook
- The Indian mutual fund industry is in a structural growth phase, driven by the financialization of savings, rising systematic investment plans (SIPs), and increasing retail participation.
- As the market leader with a massive distribution network and a strong brand, ICICI Prudential AMC is a prime beneficiary of this trend.
- The shift towards higher-margin equity products further boosts its long-term profitability outlook.
What Are The Strengths and Risks of ICICI Prudential AMC IPO?
Strengths:
- Market Leadership: Largest AMC in India by active mutual fund assets with a dominant 13.3% market share.
- Best-in-Class Profitability: Highest operating profit and an exceptional RoNW of nearly 83%.
- Strong Parentage: Backed by the trusted brands of ICICI Bank and Prudential.
- Zero Debt: A robust, debt-free balance sheet ensures financial resilience.
Risks:
- Market Sensitivity: Revenue is directly linked to AUM, which fluctuates with stock market performance. A bear market could impact fees.
- Regulatory Changes: The industry is highly regulated by SEBI. Any cap on expense ratios or commissions could squeeze margins.
- 100% Offer for Sale (OFS): No funds are coming into the company for growth; existing shareholders are cashing out.
- Competition: The AMC space is fiercely competitive, with pressure from both established players and new fintech entrants.
What Are The Expert Recommendations – Should You Apply?
Subscribe for Long-Term
The ICICI Prudential AMC IPO is a "blue-chip" opportunity to invest in India's financial growth story.
- For Value Investors: While not "cheap" at 40x P/E, the quality of the business and its incredible return ratios justify the premium. It is a high-quality compounder.
- For Growth Investors: As the market leader in a sunrise sector, the company offers steady, long-term growth potential with low risk.
- Our View: Despite the 100% OFS structure, the business fundamentals are impeccable. A market leader with zero debt and 80%+ RoE is a rare find. We strongly recommend "Subscribe for Long-Term" for investors looking to add a high-quality financial stock to their portfolio.
Key Takeaways
- IPO Price Band: ₹2,061 to ₹2,165 per share
- Lot Size: 6 Shares (Minimum Investment: ₹12,990)
- Allotment & Listing Dates: Tentative listing on December 19, 2025.
- Recommendations of experts: A strong "Subscribe" recommendation. A market leader with superior financials, zero debt, and immense growth potential in the mutual fund industry.
FAQs on ICICI Prudential AMC IPO
What is ICICI Prudential AMC IPO price band?
The price band for the IPO is set at ₹2,061 to ₹2,165 per equity share.
What is ICICI Prudential AMC IPO allotment date?
The allotment of shares is tentatively expected to be finalized on Wednesday, December 17, 2025.
How to check ICICI Prudential AMC IPO allotment status?
You can check the allotment status on the website of the IPO registrar once the basis of allotment is finalized.
What is ICICI Prudential AMC IPO listing date?
The company's shares are tentatively scheduled to be listed on the BSE and NSE on Friday, December 19, 2025.
Should I apply for ICICI Prudential AMC IPO?
Yes, this is a highly recommended IPO for long-term investors. The company is a market leader with exceptional financial health, zero debt, and high profitability, making it a core portfolio holding despite the premium valuation.
Disclaimer:
The information provided in this article is for educational and informational purposes only.
IPO investing involves market risks. Please consult your financial advisor before making any investment decisions.
We do not guarantee the accuracy of GMP, subscription data, or allotment outcomes.
