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News Topical, Digital Desk : Domestic brokerage firm PL Capital, part of the Prabhudas Lilladher Group, has initiated coverage on ICICI Prudential AMC ahead of its listing. The stock is scheduled to be listed on the stock exchange on Friday, December 19th. In its report, the brokerage stated that the company has a strong presence in the asset management sector and that its strong fundamentals are contributing to its positive sentiment on the stock. The market is also positive about the stock's listing, and the gray market premium is steadily increasing.
What is the forecast?
PL Capital has given a 'Buy' rating to ICICI Prudential AMC shares and set a target price of ₹3,000 per share. The issue has an upper price band of ₹2165, meaning the stock is expected to rise by approximately 39% from the issue price. The brokerage says the company's business outlook is strong due to its strong performance. In the first eight months of FY26, ICICI Prudential AMC achieved the highest net equity flow market share of 17.5% among all AMCs. The report also states that the company's equity yield has been 67 basis points, which is possible due to the lowest distributor payout in the industry. Furthermore, due to ICICI Bank's closed distribution architecture, approximately 73.7% of ICICI Prudential AMC's mutual fund sales are routed through ICICI Bank.
What are the GMP indications? The ₹10,603 crore ICICI Prudential AMC IPO was open for subscription from December 12th to 16th. The company had fixed its price band at ₹2,061 to ₹2,165 per share. The issue received a bumper response. According to unlisted market reports, ICICI Prudential AMC shares are trading at a premium of ₹360 per share. The GMP has been steadily rising, according to investor gains. On December 11th, it was at ₹150. Keep in mind that the gray market premium is uncertain and can fluctuate sharply, and the actual listing price may differ from the GMP.
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