Tue Dec 16 03:30:00 UTC 2025: ## IPO Face-Off: Investors Weigh ICICI Prudential AMC Against KSH International

Mumbai: Dalal Street is buzzing with activity as two initial public offerings (IPOs) vie for investor attention. The ICICI Prudential AMC IPO concludes today, December 16th, while KSH International launched its IPO for subscription today, remaining open until December 18th.

The contrasting IPOs present investors with a strategic decision. Early indicators suggest ICICI Prudential AMC is the frontrunner, with its grey market premium (GMP) trending upwards, indicating strong investor interest. The last-day GMP for ICICI Prudential AMC sits at ₹305, suggesting a potential listing price of ₹2,470 – a premium of 14.09% over the upper end of the price band (₹2,061-2,165). The IPO has already seen strong demand, being oversubscribed by 2.11 times on its second day.

Conversely, KSH International’s IPO GMP is currently nil, implying shares are trading at par with the upper price band of ₹365-384. The Pune-based manufacturer of magnet winding wires raised ₹213 crore from anchor investors prior to the public offering, aiming to raise ₹710 crore through a combination of fresh issue and offer-for-sale. The company intends to use the funds for debt repayment, facility expansion, and general corporate purposes.

Experts suggest the two IPOs cater to different investor profiles. Arun Kejriwal from Kejriwal Research & Investment Services emphasizes the differing business models, favoring ICICI Prudential AMC due to its attractive valuations compared to its listed peer, HDFC AMC. He suggests investors apply for ICICI Prudential AMC first, and if unsuccessful, then consider KSH International.

Harshal Dasani of INVAsset PMS echoes this sentiment, positioning ICICI Prudential AMC as a “cleaner bet” for risk-averse, long-term investors. He highlights its strong brand equity, robust distribution, and focus on market cycles. KSH International, on the other hand, is presented as a higher-risk, manufacturing-led growth story suitable for investors with a higher risk tolerance.

Ultimately, the choice between ICICI Prudential AMC and KSH International hinges on an investor’s individual risk appetite, investment horizon, and understanding of the respective business models. Investors are encouraged to consult certified financial advisors before making any investment decisions.

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