ICICI Prudential AMC shares rise on second day of listing; here's how much it has gained from IPO issue price

ICICI Prudential AMC share price: Shares of ICICI Prudential Asset Management Company Ltd were trading in the positive territory on Monday, December 22, the second trading session after listing on the stock exchanges.

The stock was up 1.16% to ₹2,615.90 apiece on the National Stock Exchange (NSE) at 9:52 am. The market capitalisation of the company stands at ₹1,25,872.82 crore.

The scrip debuted at ₹2,600 per unit on the NSE on December 19, reflecting a premium of 20.09% from the IPO price of ₹2,165.

At the above-mentioned price, it is up 20.82% from the issue price.

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

The ₹10,602.65 crore IPO, with a price band of ₹2,061 to ₹2,165 per share, was an offer for sale (OFS) of 4.90 crore shares by promoter Prudential Corporation Holdings. The company will not receive any proceeds from the IPO, as there was no fresh issue component.

"Our company expects that listing of the equity shares will enhance our visibility and brand image as well as provide a public market for the equity shares in India," it said.

The initial public offering was subscribed 39.17 times, with bids for 1,37,14,89,456 equity shares compared to 3,50,15,691 shares on offer. The part reserved for qualified institutional buyers (QIBs) was booked 123.87 times, non-institutional investors' (NIIs) portion was subscribed 22.04 times. The retail individual investors (RIIs) category saw 2.53 times subscription.

Prior to the IPO, the AMC fetched ₹3,021.8 crore in its anchor round from 149 marquee investors, including the Government of Singapore, Abu Dhabi Investment Authority, JP Morgan Investment Management Inc, Goldman Sachs, LIC, Axis MF, HDFC MF and SBI MF.