ICICI Prudential's Spectacular Market Debut: A 19% Premium

ICICI Prudential Asset Management made an impressive stock market debut with shares closing 19% above the issue price. The IPO witnessed strong institutional demand, leading to a 39.17 times subscription. The company joins other listed AMC giants like HDFC AMC, becoming the fifth ICICI Group entity on the stock exchange.

ICICI Prudential Asset Management Company Ltd's shares closed with an impressive premium of over 19% compared to their issue price of Rs 2,165 on Friday. The stock made a striking debut at Rs 2,606.20, reflecting a 20.37% premium on the Bombay Stock Exchange (BSE). The bullish momentum continued as it surged further to Rs 2,662 before ending at Rs 2,586.70, a 19.47% increase.

At the National Stock Exchange (NSE), the stock opened at Rs 2,600, marking a 20% jump from the issue price, and closed at Rs 2,585.90, up by 19.44%. This robust performance marked a notable entry for ICICI Prudential AMC into the market, with a valuation reaching Rs 1,27,849.85 crore. The stock attracted significant trading volumes, with 36.34 lakh shares changing hands on the BSE and 314.23 lakh shares traded on the NSE.

The IPO's overwhelming success was driven by high demand from institutional buyers, achieving a 39.17 times subscription against its price band of Rs 2,061-2,165 per share. With this successful listing, ICICI Prudential AMC joins an elite group of listed asset management companies, standing alongside HDFC AMC, UTI AMC, Aditya Birla Sun Life AMC, Shriram AMC, and Nippon Life India Asset Management. This marks the fifth ICICI Group entity to be listed, following ICICI Bank, ICICI Prudential Life, ICICI Lombard, and ICICI Securities.