ICICI Prudential AMC IPO GMP Today: What To Expect From Rs 10,603 Crore IPO Listing? Check Share Price Target

ICICI Prudential AMC IPO Listing, Latest GMP Details: The Rs 10,603 crore initial public offering (IPO) of ICICI Prudential Asset Management Company Ltd (AMC) is all set to make its Dalal Street debut on Friday, December 19. ICICI Prudential AMC IPO GMP (grey market premium) indicated a bumper listing today.

For investors tracking the ICICI Prudential AMC IPO listing today and the stock's post-listing share price outlook, here's a comprehensive look at all the key details you need to know.

ICICI Prudential AMC IPO GMP Today

ICICI Prudential AMC IPO's latest GMP was recorded at Rs 526, as per investorgain.com at 10:31 pm on Thursday, December 18. Its latest GMP saw a sharp jump from Rs 370 recorded on Wednesday. Based on its latest GMP, ICICI Prudential AMC IPO is expected to be listed for Rs 2691 per share (which is the sum of IPO GMP Today and upper price band).

Investors must note that a company's IPO GMP is not an accurate indication of its listing day performance, but it indicates an IPOs demand in the unregulated market.

ICICI Prudential AMC Share Price Recommendation

The asset management company is likely to benefit from its strong performance, superior equity yields, high mutual funds sales, higher share of non-MF revenue, etc, noted PL Capital in its report on Wednesday. The brokerage has initiated a 'Buy' rating for ICICI Prudential AMC share price post IPO listing.

ICICI Prudential AMC Share Price Target

Considering ICICI Prudential's issue price of Rs 2,165 as the CMP, PL capital has fixed a target price of Rs 3,000 per share for the long-term. "We initiate coverage on ICICI AMC with a 'BUY' rating, valuing at a multiple of 38x on Sep'27 core EPS to arrive at a TP of Rs 3,000," noted the brokerage in its report.

The brokerage is optimistic about its business prospects given its strong performance, dominant position in the market and advantage of lower distributor payout. "We expect equity AAuM CAGR over FY25-28E to be 2.5% higher than industry, leading to core PAT CAGR of 18.5%. Upper band of Rs 2,165 suggests a valuation of ~27x on Sep'27 core EPS indicating 17%/16% discount to HDFCAMC (32x) and NAM (32x). ICICIAMC may eventually command a premium to HDFCAMC due to better distribution and diversification while having similar profitability," added the brokerage in its report.

ICICI Prudential AMC IPO Subscription Details

ICICI Prudential AMC IPO saw bumper subscription during the period. The IPO was subscribed around 39.17 times including 2.53 times subscription in the retail category, 123.87 times subscription in the QIB category, 22.04 times subscription in the NII category.

ICICI Prudential AMC IPO Price Band, Other Details

The company had fixed a book build issue of Rs 10,602.65 crores. The issue is an entire offer for sale of 4.9 crore shares of Rs 10,602.65 crore. The company had fixed an upper price band of Rs 2165 per share. The lot size for an application is 6, and the minimum amount of investment required by a retail is Rs 12,990 and for an sNII the minimum investment amount is Rs 2,07,840.

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