ICICI Prudential AMC IPO Gathers Strong Momentum, Likely to Achieve Full Subscription by Day Two as Grey Market Buzz Intensifies
A key driver behind this optimism is the surging Grey Market Premium (GMP), which has climbed close to the ₹300 mark, reflecting growing confidence among investors and traders alike. Combined with solid institutional participation on Day One, the IPO appears firmly on track for a successful run.
The initial public offering (IPO) of ICICI Prudential Asset Management Company (AMC) is fast emerging as one of the most closely watched mainboard listings of the year. Just one day into the subscription window, the IPO has already generated strong market interest, and analysts now believe the issue could be fully subscribed by the second day itself, well ahead of its closing date.
The public issue opened on December 12 and will remain open until December 16 (Tuesday). Early subscription trends indicate that momentum is steadily building, especially as the grey market continues to signal strong listing potential.
Day One Subscription: Institutions Lead the Charge
ICICI Prudential AMC’s IPO received a healthy response on its opening day, particularly from large institutional investors. While retail participation remained cautious initially, strong bidding from Qualified Institutional Buyers (QIBs) sent a positive signal about long-term confidence in the company’s fundamentals.
Subscription status after Day One:
- Overall Subscription: 0.73 times
- Qualified Institutional Buyers (QIBs): 1.97 times
- Non-Institutional Investors (NIIs): 0.38 times
- Retail Individual Investors (RIIs): 0.21 times
Market observers point out that it is common for retail investors to wait until later days, especially when GMP trends become more visible. With grey market enthusiasm rising sharply, retail demand is expected to accelerate over the coming sessions.
Grey Market Premium Near ₹300 Signals Strong Listing Expectations
One of the biggest talking points around this IPO is its impressive performance in the grey market. According to market dealers and unofficial tracking platforms, the ICICI Prudential AMC IPO is currently commanding a GMP of around ₹280, the highest seen so far during the issue period.
What this suggests:
- Potential listing gains of nearly 13%, if current sentiment holds
- Investors applying for one lot (6 shares) could see a notional gain of around ₹1,680
- Rising GMP significantly improves the chances of early full subscription
However, market experts caution that grey market premiums are unofficial indicators and can fluctuate quickly depending on broader market conditions and investor sentiment.
One of the Largest Mainboard IPOs in Recent Times
The ICICI Prudential AMC IPO is notable not just for demand but also for its size and structure. It is among the largest IPOs launched in the Indian primary market this year.
Key issue details:
- Total Issue Size: ₹10,602.65 crore
- Shares Offered: 4.90 crore equity shares
- Issue Type: Pure fresh issue
- Market Segment: Mainboard
- Opening Date: December 12, 2025
- Closing Date: December 16, 2025
The proceeds from the IPO will be used to strengthen the company’s balance sheet, enhance operational capabilities, and support long-term growth initiatives in an increasingly competitive asset management landscape.
Price Band, Lot Size, and Investment Requirement
Reflecting its strong market position and brand value, the company has fixed a premium price band for the offering.
Pricing and investment details:
- Price Band: ₹2,061 to ₹2,165 per share
- Lot Size: 6 shares
- Minimum Investment Amount: ₹12,990
Despite the higher entry price, many analysts believe the valuation is reasonable given ICICI Prudential AMC’s scale, profitability, and leadership in the mutual fund industry.
Why ICICI Prudential AMC Commands Investor Trust
ICICI Prudential AMC is among India’s most established asset management companies, backed by a strong parentage, a diversified product portfolio, and an extensive distribution network across the country.
Key strengths include:
- Leadership position in the Indian mutual fund space
- Consistent track record of asset growth
- Wide reach across retail and institutional investors
- Strong brand credibility and governance standards
With India witnessing rapid financialization of household savings, asset management companies are expected to benefit structurally over the long term — a factor that continues to attract institutional investors.
Can the IPO Be Fully Subscribed Before the Final Day?
Given the strong QIB demand, rising grey market sentiment, and improving investor confidence, market experts believe the ICICI Prudential AMC IPO is well on course to achieve full subscription by Day Two itself.
If participation from retail investors and NIIs picks up as expected, the issue could even move into oversubscription territory before the final day of bidding.
The ICICI Prudential AMC IPO has made a confident start, supported by:
- Strong institutional participation
- Rapidly rising Grey Market Premium
- A leadership position in a high-growth sector
While short-term listing gains appear attractive, investors are advised to evaluate the IPO based on their investment horizon, risk appetite, and financial goals, rather than relying solely on grey market signals.