ICICI Prudential Asset Management made a powerful market debut, with shares surging 23% on day one, valuing the firm at $14.4 billion and making it India’s most valuable listed asset manager.
Key highlights:
- 📈 IPO price: ₹2,165 | Debut high: ₹2,663
- 💰 $1.2B IPO attracted $33B in bids (4th most subscribed in India)
- 🏦 Backed by ICICI Bank & Prudential
- 📊 AUM ~ ₹10 trillion ($111B)
- 📌 Higher equity fund exposure supports margin strength and growth
The listing caps a record year for India’s primary markets, with IPO fundraising already surpassing 2024 totals. Strong domestic capital inflows, rising equity participation, and robust mutual fund adoption continue to underpin valuations across India’s asset management sector.
This debut reinforces a clear theme: India’s capital markets depth is expanding — and asset managers are prime beneficiaries.