ICICI Prudential AMC shares list at 20% premium after strong IPO response
[hfe_template id='11223']
[ad_1]
Shares of ICICI Prudential Asset Management made their stock market debut on Friday, listing with 20% gains over the IPO price. The stock opened at Rs 2,606.20 and Rs 2,600 on the BSE and NSE, respectively, as compared to its issue price of 2,165 The IPO was subscribed 39.17 times overall, driven primarily by qualified institutional buyers, whose portion was subscribed nearly 124 times. Non-institutional investors bid for their quota 22 times, while the retail portion was subscribed 2.53 times. The shareholder category, reserved for ICICI Bank shareholders, was subscribed nearly 10 times. Ahead of the public issue, the company raised Rs 3,022 crore from anchor investors, providing early validation to the pricing and helping anchor the issue amid a volatile broader market. The listing comes at a time when asset management companies are drawing investor attention due to rising household participation in mutual funds and steady long-term flo...