ICICI Pru AMC makes solid D-St debut; lists at 20% premium on bourses

ICICI Prudential AMC shares listed at ₹2,600 on the NSE, a premium of ₹435 or 26 per cent from the issue price of ₹2,165

ICICI Prudential AMC listing, ICICI Prudential AMC share price: The much-awaited listing of asset management company (AMC) ICICI Prudential AMC made a bumper debut on Dalal Street in an overall positive market. The company's shares listed at ₹2,600 on the NSE, a premium of ₹435 or 26 per cent from the issue price of ₹2,165. Soon after listing, the stock touched a high of ₹2,660, up 2.3 per cent from the listing price. 

 

On the BSE, ICICI Prudential AMC shares opened at ₹2,606, a premium of 20.4 per cent. Post-listing, the stock rose around 2 per cent from the issue price to a high of ₹2,662.  ICICI Prudential AMC market debut was slightly below the grey market estimates. Ahead of the listing, its unlisted shares were quoted at around ₹2,685 in the grey market. This suggested a grey market premium (GMP) of ₹520, or approximately 24 per cent, over the issue price, according to sources tracking unofficial market activity. 

ICICI Prudential AMC IPO subscription rate

According to National Stock Exchange (NSE) data, ICICI Prudential AMC IPO received a solid response from investors, with overall subscription reaching over 39 times. Investors placed bids for 1.37 billion equity shares against the 35 million shares on offer. Qualified Institutional Buyers (QIBs) led the demand, oversubscribing their allotted quota by 123.87 times. The Non-Institutional Investors (NIIs) segment was subscribed 22.04 times, while the retail investors portion was booked only 2.53 times compared to the shares reserved. 

 

ICICI Prudential AMC IPO anchor book

Ahead of the IPO, the company raised ₹3,021.8 crore from 149 global and domestic institutional investors (DIIs) through the anchor book. It allocated 4.66 million equity shares at ₹2,165 per share, according to the filing on exchanges

ICICI Prudential AMC IPO details

ICICI Prudential AMC successfully raised ₹10,602.65 crore through its initial public offering, which comprised an offer for sale (OFS) of 49 million equity shares. As part of the OFS, Prudential Corporation Holdings will offload a portion of its holdings. 

 

The IPO was offered in the price band of ₹2,061 to ₹2,165 per share, with a minimum application lot of 6 shares. The issue was open for subscription from December 12 to December 16. The allotment of shares was finalised on Wednesday, December 17.

 

“Our Company will not receive the proceeds from the Offer (the Offer Proceeds), and all the Offer Proceeds will be received by the Promoter Selling Shareholder after deduction of Offer-related expenses and relevant taxes thereon, to be borne by the Promoter Selling Shareholder,” the company said in its RHP.