ICICI Prudential AMC IPO fully subscribed on Day 2; check category-wise status

ICICI Prudential AMC IPO: The initial public offering (IPO) of ICICI Prudential Asset Management Company, an arm of the ICICI Bank, was fully subscribed on the second day of share sale on Monday, December 15.

The IPO secured bids for 3,92,32,332 shares against 3,50,15,691 shares on offer, translating to 1.12 times subscription, according to NSE data until 11:20 am.

Among the investor category, qualified institutional buyers (QIBs) attracted 1.97 times subscription, while the quota for non-institutional investors (NIIs) got subscribed 1.53 times. The portion for retail individual investors (RIIs) received 44% subscription.

The mutual fund house has set a price band of ₹2,061 to ₹2,165 per share for the issue, valuing the company at about ₹1.07 lakh crore. Investors can apply for a minimum of one lot, consisting of six shares.

The ₹10,602.65 crore initial share sale is an entirely offer-for-sale of more than 4.89 crore shares by its promoter, UK-based Prudential Corporation Holdings, meaning the company will not receive any proceeds from the offering.

The share sale would end on December 16.

ICICI Prudential AMC IPO: Allotment and listing date

Currently, ICICI Bank holds 51% in the AMC, while Prudential owns the remaining 49%.

Once listed, ICICI Prudential AMC will become the latest asset manager to debut on Indian stock exchanges, joining players such as HDFC AMC, UTI AMC, Aditya Birla Sun Life AMC, Shriram AMC and Nippon Life India Asset Management.

It will also be the fifth ICICI Group entity to be listed, after ICICI Bank, ICICI Prudential Life, ICICI Lombard, and ICICI Securities.

Citigroup Global Markets India, Morgan Stanley India, Axis Capital, BofA Securities India, IIFL Capital Services, Nomura Financial Advisory and Securities, CLSA India, SBI Capital Markets and Kotak Mahindra Capital are the IPO's book-running lead managers, while KFin Technologies is the registrar.

ICICI Prudential AMC IPO GMP