PL Capital Predicts ICICI Prudential AMC Shares to Hit ₹3,000 Post-Listing

• PL Capital initiates 'Buy' on ICICI Prudential AMC with a ₹3,000 price target, projecting 40% upside from its ₹2,165 issue price.
• Brokerage highlights ICICI Prudential AMC's dominant market position, strong fundamentals, 17.5% net equity flow market share, and superior 67 basis points equity yields.
• Company benefits from strong parentage, 73.7% mutual fund sales via ICICI Bank, and higher non-mutual fund revenue (9.2%).
• ICICI Prudential AMC's IPO was massively oversubscribed, attracting ₹3 lakh crore in bids from 55 lakh applications, making it the fourth-largest subscription by amount in Indian history.
• Shares are set to list on NSE and BSE on December 19, with PL Capital expecting a valuation premium over peers due to strong distribution and diversification.

Why It Matters: PL Capital forecasts significant upside for ICICI Prudential AMC shares, citing strong fundamentals and IPO success.