Kolkata: ICICI Pru AMC IPO Grey Market Premium or GMP seems to be on turbo-charge. It has been rising constantly since Dec 11. The rise has been to such an extent that while the listing gain signaled by the GMP was 6.93% on Dec 11, the listing gain indicated on Dec 18 stood at 19.40% — a rise of almost three times in just seven days.

Let’s have a look at the GMP levels of the ICICI Pru AMC IPO since Dec 11 as recorded by investorgain. The point to note that the GMP kept rising through the bid process, allotment and even after allotment. However, one should keep in mind that GMP is an unofficial indicator that is volatile and cannot guarantee any listing gain (or loss).

Dec 18: Rs 420 (listing gain 19.40%)
Dec 17: Rs 370 (17.09%)
Dec 16: Rs 344 (15.89%)
Dec 15: Rs 302 (13.95%)
Dec 14: Rs 292 (13.49%)
Dec 13: Rs 280 (12.93%)
Dec 12: Rs 255 (11.78%)
Dec 11: Rs 150 (6.93%)

Strengths of ICICI Pru AMC

In the expanding world of mutual funds, ICICI Pru AMC is a powerhouse. It has the largest number of MF schemes among all AMCs in the country, particularly in active and equity-oriented schemes. Reports say that it was the most profitable asset management company in the country in FY25 and contributed an overwhelming 20% of the operating profit of the entire industry. Analysts pointed out that the this performance was not only due to robust AUM growth but also to a superior revenue yield of 52 basis points.

ICICI Pru AMC also scores impressively on its capital efficiency — it registers a ROE (return on equity) of 83%, which is nearly 2.6 times higher than that of HDFC AMC and Nippon Life AMC. The ROE of these two AMCs are at 32%. The IPO commands a P/E multiple of 40x that is higher than the industry average of 32x. Analysts also pointed out that ICICI Pru shares should be regarded as a stable long-term investment and not as a fierce short-term growth bet.