ICICI Prudential AMC Soars 20% on Debut; Brokerages See Up to 22% Upside

• ICICI Prudential AMC shares listed at a 20% premium (Rs 2,600) over the IPO price, valuing the company at Rs 1.3 lakh crore.
• It became India's most valuable listed asset management company, surpassing HDFC Asset Management Company.
• Brokerages like Centrum Broking and Equirus Securities initiated 'buy'/'long' ratings with price targets indicating up to 22% upside.
• Analysts highlight the company's strong parentage, higher equity mutual fund exposure, and attractive valuation.
• The mutual fund sector's growth outlook remains favorable due to rising penetration and steady SIP inflows.

Why It Matters: ICICI Prudential AMC made a strong debut, becoming India's top AMC, with brokerages predicting further upside.