ICICI Prudential AMC IPO: Key Details & Price Band

ICICI Prudential Asset Management Company (AMC) Ltd - Company Background

ICICI Prudential Asset Management Company (AMC) Ltd is one of the oldest private sector AMCs in India and is today the second largest by AUM. Apart from a dominant position in equity AUM, the AMC also has a strong alternate franchise. It serves a customer base of over 1.55 crore customers for its various products. The AMC offers a total of 143 schemes as of September 2025. This includes 44 equity-oriented schemes, 20 debt schemes, 61 passive schemes, and 15 Fund of Funds (FOFs).

The IPO will be an offer for sale by Prudential Corporation. Being an offer for sale, no fresh funds will come into the company from the IPO. The issue is being lead-managed by Citigroup Global, Morgan Stanley, BOFA Securities, Axis Securities, CLSA India, IIFL Capital, Kotak Mahindra Capital, Nomura Financial Advisory, SBI Caps, I-Sec, Goldman Sachs, Avendus, BNP Paribas, HDFC Bank, JM Financial, Motilal Oswal, Nuvama, and UBS. KFIN Technologies Ltd (KFINTECH) will be the registrars to the IPO.

Highlights of the IPO Issue

Here are the key highlights of the public issue of ICICI Prudential Asset Management Company (AMC) Ltd.

• The IPO of will be open from December 12th, 2025 to December 16th, 2025. It has a face value of ₹1 per share and IPO price band is set in range of ₹2,061 to ₹2,165 per share.

• The IPO of ICICI Prudential Asset Management Company (AMC) Ltd will be entirely an offer for sale by the Prudential Corporation Holdings Ltd, with no fresh issue portion.

• The offer for sale (OFS) of the IPO comprises the sale of 4,89,72,994 shares (489.73 lakh shares), which at the upper price band of ₹2,165 per share translates into ₹10,602.65 crore. ICICI Bank will not be offering any shares in the OFS.

• Since there is no fresh issue component, the overall IPO will also comprise of the sale of 4,89,72,994 shares (489.73 lakh shares), which at the upper price band of ₹2,165 per share translates into ₹10,602.65 crore.

The IPO of ICICI Prudential Asset Management Company (AMC) Ltd will be listed on the NSE and the BSE on the IPO mainboard. The anchor allocation will happen a day ahead of IPO opening.

Key Dates, Investor Allocation, And Lot Sizes

Here are the key dates pertaining to the IPO of ICICI Prudential Asset Management Company (AMC) Ltd

Data Source: Company RHP

Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).

The table below captures the gist of the allocation to various categories.

Data Source: Security Parameters Filing (NSE)

The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement. Here is a quick look at the lot sizes applicable for the IPO of ICICI Prudential Asset Management Company (AMC) Ltd for various categories of investors.

It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 6 shares)

Financial Highlights

The table captures the key financials of ICICI Prudential Asset Management Company (AMC) Ltd for last 3 financial years.

Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)

The company, ICICI Prudential Asset Management Company (AMC) Ltd, has shown robust annual growth in sales of over 32% in the last 3 years. AMC business, by default is a high net margin and high operating margin business. This is also a business where companies offer very healthy dividend payouts and the stock market performance of most of the listed AMCs over the last 5 years has been extremely attractive.

Valuation Metrics

At the IPO price of ₹2,165 per share, the indicative P/E will work out to 40.4X at the latest year EPS of ₹53.60 per share. The range of valuations for this space is quite wide and the P/E of the IPO is closer to the upper end of the range. However, it must be remembered that ICICI Prudential Asset Management Company (AMC) Ltd also brings some key advantages to the table. It has the backing of a reputed banking group.

In addition, it is the second largest AMC in India by AUM and that gives them the benefit of scale. Also, the company is poised to leverage its bancassurance model, which has been the theme for rapid growth in the Indian market. Equities continue to be a high proportion of its AUM, so even with gradually falling TERs, the revenue flows should be robust. For investors, this is a good opportunity to participate in a high margin and high dividend yield business.

A Brief on the Anchor Allocation

The anchor issue of ICICI Prudential Asset Management Company (AMC) Ltd saw a strong response on 11th December 2025 with 28.50% of the IPO size absorbed by anchors. Out of 4,89,72,994 shares (489.73 lakh shares) on offer in the IPO, anchors picked up 1,39,57,303 shares (139.57 lakh shares) accounting for 28.50% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹2,165 per share. This includes the face value of ₹1 per share plus a share premium of ₹2,164 per share. The anchor bidding process opened and closed on 11th December 2025.

Key Points to Note in the Anchor Allocation Process

Here are the key details pertaining to the anchor bidding of ICICI Prudential Asset Management Company (AMC) Ltd

An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery.

Anchor Allocation Investors

On 11th December 2025, ICICI Prudential Asset Management Company (AMC) Ltd allotted 1,39,57,303 shares to 149 anchor investors. The allocation was done at the upper IPO price band of ₹2,165 per share which resulted in overall anchor allocation of ₹3,021.76 crore. The anchors have already absorbed 28.50% of the total issue size of ₹10,602.65 crore. Listed below are the Top 10 IPO anchor investors who accounted for anchor collection of ₹1,140.26 crores, or, 37.73% of the overall anchor allocation of shares, one day ahead of the IPO of ICICI Prudential Asset Management Company (AMC) Ltd. The anchor bidding opened and closed on December 11, 2025.

Data Source: BSE Filings (Value Allocated in ₹ in Crore)

The detailed and comprehensive report on the anchor allocation with the mutual fund portion separated can be accessed on BSE by clicking on the link below.

https://www.bseindia.com/markets/MarketInfo/DownloadAttach.aspx?id=20251211-90&attachedId=1c04d911-d247-4df1-9e56-e1a12eaa83d3

Out of the 1,39,57,303 shares allocated to the anchors in the IPO, there were a total of 46,62,097 shares allocated to mutual funds registered with SEBI. The allocation was made to 77 mutual fund schemes across 27 AMCs. Mutual funds accounted for 33.40% of the total anchor allocation of the IPO. Sovereign Funds, AIFs, Insurance Companies and P-Notes were the other active participants in the anchor allocation of ICICI Prudential Asset Management Company (AMC) Ltd.

Next Step in the IPO

Post the closure of the IPO subscription on 16th December 2025, the basis of allotment will be finalized on 17th December 2025 and the refunds will be initiated on 18th December 2025. In addition, the demat credits are expected to also happen on 18th December 2025 and the stock will list on 19th December 2025 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 18th December 2025 under ISIN (INE346A01027).

IPO Subscription Status On Day-1

As of 5.15 pm on 12th December 2025, out of the 350.16 lakh shares on offer in the IPO (excluding anchor portion), ICICI Prudential Asset Management Company (AMC) Ltd saw bids for 253.73 lakh shares. This implies an overall subscription of 0.72X or 72% at a macro level. The granular break-up of subscriptions at close of Day-1 of the IPO of ICICI Prudential Asset Management Company (AMC) Ltd was as under:

The subscriptions were led by the QIB Investors followed by the HNI / NII investors and the Retail investors in that order. QIB bids and NII bids typically gather most of the momentum on the last day, and that would be the case in this issue also. Both the QIB and the NII bids pick up momentum on the last day since that is when the bulk HNI funding bids, corporate bids, and the bulk QIB bids come in. The company saw robust anchor participation a day ahead of the IPO opening. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.

Data Source: NSE / BSE (as of close of Day-1 of the IPO)

The IPO is open up to December 16, 2025, at which point we will know the final subscription status of the IPO.

IPO Subscription Status On Day-2

As of 5.15 pm on 15th December 2025, out of the 350.16 lakh shares on offer in the IPO (excluding anchor portion), ICICI Prudential Asset Management Company (AMC) Ltd saw bids for 738.73 lakh shares. This implies an overall subscription of 2.11X at a macro level. The granular break-up of subscriptions at close of Day-2 of the IPO of ICICI Prudential Asset Management Company (AMC) Ltd was as under:

The subscriptions were led by the HNI / NII Investors followed by the QIB investors and the Retail investors in that order. QIB bids and NII bids typically gather most of the momentum on the last day, and that would be the case in this issue also. Both the QIB and the NII bids pick up momentum on the last day since that is when the bulk HNI funding bids, corporate bids, and the bulk QIB bids come in. The company saw robust anchor participation a day ahead of the IPO opening. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.

Data Source: NSE / BSE (as of close of Day-2 of the IPO)

The IPO is open up to December 16, 2025, at which point we will know the final subscription status of the IPO.

IPO Subscription Status On Day-3

As of 7.20 pm on 16th December 2025, out of the 350.16 lakh shares on offer in the IPO (excluding anchor portion), ICICI Prudential Asset Management Company (AMC) Ltd saw bids for 13,714.89 lakh shares. This implies an overall subscription of 39.17X at a macro level. The granular break-up of subscriptions at close of Day-3 of the IPO of ICICI Prudential Asset Management Company (AMC) Ltd was as under:

The subscriptions were led by the QIB Investors followed by the HNI / NII investors and the Retail investors in that order. QIB bids and NII bids typically gather most of the momentum on the last day, and that was the case in this issue also. Both the QIB and the NII bids pick up momentum on the last day since that is when the bulk HNI funding bids, corporate bids, and the bulk QIB bids come in. The company saw robust anchor participation a day ahead of the IPO opening. Here is the category-wise subscription.

Data Source: NSE / BSE (as of close of Day-3 of the IPO)

The IPO of ICICI Prudential Asset Management Company (AMC) Ltd was open up to December 16, 2025, and has closed for subscription as of the close of trading hours on December 16, 2025. The subscription ratios presented in the table above represent the final subscription numbers for each category and also for the IPO overall. Generally, the listing price of the IPO and the post-listing performance tend to get influenced by the extent of oversubscription of the IPO. However, it must also be noted that a higher subscription is not an automatic guarantee of strong listing performance for the stock. The final subscription ratio excludes anchor portion. Value of bids (including the anchor allocation) as of close stood at ₹2,99,949 crore.

ICICI Prudential Asset Management Company (AMC) Ltd

The IPO of ICICI Prudential Asset Management Company (AMC) Ltd opened on December 12th, 2025 and closed on December 16th, 2025. The IPO comprised of a fresh issue and an offer for sale (OFS) of 4,89,72,994 shares (489.73 lakh shares) worth ₹10.602.65 crore at the upper band price of ₹2,165 per share. The allotment status will be finalized by EOD of December 17, 2025. Here is how to check allotment status for the IPO of ICICI Prudential Asset Management Company (AMC) Ltd. You can check IPO status on BSE or NSE or IPO Registrar website of KFIN Technologies Ltd (KFINTECH).

Checking The Allotment Status of IPO on BSE Website

This is a common link for all mainboard IPOs. Click on BSE link for IPO allotment as below.

https://www.bseindia.com/investors/appli_check.aspx

Once you reach the page, here are the steps to follow.

• Under Issue Type – Select Equity Option

• Under Issue Name – Select ICICI Prudential Asset Management Company (AMC) Ltd from the drop-down box

• Enter the Application Number / CAF exactly as in the acknowledgement slip

• Alternatively, Enter your PAN (10-digit alphanumeric) number

• Once this is done, you need to click on the Captcha to verify you are not a robot

• Finally click on the Search Button

You can use either of the parameters to query; Application / CAF number or Investor PAN.

The allotment status will be displayed on the screen in front of you informing about the number of shares of ICICI Prudential Asset Management Company (AMC) Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.

Checking The Allotment Status of IPO on NSE Website

This is a common link for all IPOs. Click on NSE link for IPO allotment as below.

https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

Once you reach the page, here are the steps to follow.

• Under Issue Type – Select Equity & SME IPO Details Option

• Under SELECT SYMBOL – Select ICICIAMC from the drop-down box

• Enter the Application Number / CAF exactly as in the acknowledgement slip

• Enter your PAN (10-digit alphanumeric) number

• Once both are entered, click on the Submit Button

You must input the Application / CAF number and the Investor PAN.

The allotment status will be displayed on the screen in front of you informing about the number of shares of ICICI Prudential Asset Management Company (AMC) Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.

Checking Allotment Status of IPO on KFIN Technologies Ltd

Visit the website of KFIN Technologies Ltd, which has been appointed as the registrar for the issue. You can access their website for IPO status by clicking on the link below:

https://kosmic.kfintech.com/ipostatus/

KFIN Technologies Ltd provides details of IPOs managed by them and where allotment status is finalized. Radio buttons allow you to opt to see all IPOs or just recent IPOs. The latter option reduces the list of IPOs to search. Once you click on Recent IPOs, dropdown shows recent active IPOs, where allotment status is finalized. Select ICICI Prudential Asset Management Company (AMC) Ltd.

THERE ARE 3 WAYS TO QUERY ALLOTMENT STATUS ON KFIN TECHNOLOGIES LTD

To Query by Application Number, check the appropriate box and follow these steps.

• Enter the Application Number as it is

• Enter the 6-digit Captcha Code

• Click on Submit button

• Allotment Status gets displayed on screen

Unlike in the past, now you do not have to select ASBA versus Non-ASBA option.

To Query by Demat Account, check the appropriate box and follow these steps.

• First select the depository (NSDL / CDSL)

• Enter the DP-ID (Alphanumeric for NSDL and Numeric for CDSL)

• Enter the Client-ID in the second box

• For NSDL, the Demat account is 2 strings; for CDSL it is just 1 string

• Enter the 6-digit Captcha Code

• Click on Submit button

• Allotment Status gets displayed on screen

To Query by PAN, check the appropriate box and follow these steps.

• Enter the 10-Character PAN number, available on your PAN card

• After you enter the PAN number, Enter the 6-digit numeric Captcha Code

• Click on Submit button

• Allotment status gets displayed on screen

If captcha code is not clear; toggle for more options. Retain a screenshot of the allotment status output for future reference. This can be tallied with demat credit post allotment.