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New Delhi: The ICICI Prudential Asset Management Company (IPO) has received tremendous response from investors. The ICICI Pru IPO got fully subscribed on the second day of share sale on Monday. The initial public offer received bids for 4,97,60,868 shares, while 3,50,15,691 shares are on offer, translating into 1.42 times subscription, at the time of writing this article.
Non-institutional investors category received 2.32 times subscription, Qualified Institutional Buyers (QIBs) portion: 2.04 times subscription. Retail Individual Investors (RIIs) category: 61 per cent subscription.
ICICI Prudential Asset Management Company raised Rs 3,022 crore from anchor investors. The ICICI Pru IPO price band is fixed in the range of Rs 2,061 to Rs 2,165 per share, valuing it at about Rs 1.07 lakh crore (USD 11.86 billion).
ICICI Prudential AMC IPO GMP stood at Rs 275 at the time of writing this article. With the price band of Rs 2165, the shares are expected to be listed at Rs 2440, indicating a gain percentage of 12.70 per cent.
The last day to bid for the IPO is on Tuesday.
ICICI Prudential AMC IPO, a book build issue of Rs 10,602.65 crore, is an entirely offer-for-sale of more than 4.89 crore shares by its promoter, UK-based Prudential Corporation Holdings. As it is an OFS, the ICICI Bank’s arm will not receive any proceeds from the offering.
Currently, ICICI Bank has 51 per cent stake in the AMC, while Prudential has 49 per cent.
After its stock market debut, ICICI Prudential AMC will become the latest asset manager to debut on the country's stock exchanges. So far, HDFC AMC, UTI AMC, Aditya Birla Sun Life AMC, Shriram AMC, and Nippon Life India Asset Management are listed on stock exchanges.
ICICI Bank, ICICI Prudential Life, ICICI Lombard, and ICICI Securities are listed on indices.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, gold, silver and crypto assets.)
