ICICI Prudential AMC Ltd. shares made a strong debut on the stock market. The company’s shares listed on the NSE and BSE at a premium of approximately 20%, giving investors excellent returns on the listing day itself.
ICICI Prudential AMC Shares Debut at 20% Premium
Mumbai: ICICI Prudential Asset Management Company Ltd. shares made a strong start on the stock market. The company's shares listed today on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). On the NSE, the shares listed at ₹2,600, a 20.09% premium over the issue price. On the BSE, the shares listed at ₹2,606.20, registering a premium of 20.38%.
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The issue price of the ICICI Prudential AMC IPO was fixed at ₹2,165 per share. Based on this, investors gained approximately ₹435 per share on the NSE listing, while on the BSE, they earned a profit of approximately ₹441.20 per share. For investors who received an allotment in the IPO, the listing day proved to be a profitable one.
The ICICI Prudential AMC IPO received a tremendous response from the market. This was a book-built issue of ₹10,602.65 crore, which was subscribed a total of 39.17 times. In the retail investor category, the IPO was subscribed 2.53 times, while in the NII category it was subscribed 22.04 times and in the QIB (excluding anchor investors) category, it was subscribed up to 123.87 times.
The price band for the ICICI Prudential AMC IPO was set at ₹2,165 per share. One lot consisted of six shares, making the minimum investment amount for retail investors ₹12,990. For sNII investors, the minimum investment was set at 96 shares, equivalent to ₹2,07,840, and for bNII, the minimum investment amount was ₹10,00,230.
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This IPO was entirely based on an Offer for Sale (OFS), with a total of 4.90 crore shares being sold. No new shares were issued in this issue. Promoter Prudential Corporation Holdings partially sold its shares.
ICICI Prudential AMC stated in its Red Herring Prospectus that the listing of shares would strengthen the company's brand value and market recognition. It would also provide a public market for its equity shares in India, which could be helpful in the company's future expansion.
