ICICI Prudential AMC's IPO: A New Milestone

ICICI Prudential Asset Management Company Ltd's IPO received an overwhelming response, being subscribed 39.17 times. Institutional buyers led the charge, with the QIBs category subscribing 123.87 times. The offering, an entirely offer-for-sale, valued the company at roughly Rs 1.07 lakh crore.

ICICI Prudential Asset Management Company's initial public offering has met with remarkable success, garnering 39.17 times the subscription amount. The overwhelming demand was primarily driven by institutional investors, who subscribed 123.87 times under the Qualified Institutional Buyers (QIBs) category.

According to the National Stock Exchange, the IPO, valued at Rs 10,602.65 crore, attracted bids for over 1.37 billion shares against the 35.02 million shares available. The offering priced at Rs 2,061 to Rs 2,165 per share, culminates as an entirely offer-for-sale by UK-based Prudential Corporation Holdings.

The listing makes ICICI Prudential AMC the fifth entity from the ICICI Group to debut on stock exchanges, joining other asset managers like HDFC AMC and Nippon Life India Asset Management.

(With inputs from agencies.)