{"id":"f-8b070c46fc-272135af-a118-5785-829b-c227edf732c5","title":"ICICI Prudential AMC IPO fully subscribed on Day 2","description":"New Delhi, Dec 15 (PTI) The initial public offering (IPO) of ICICI Prudential Asset Management Company Ltd, an arm of the ICICI Bank, got fully subscribed on the second day of share sale on Monday","timestamp":1765790896,"category":"business","headline":"ICICI Prudential AMC IPO fully subscribed on Day 2","modifiedHeadline":"ICICI Prudential IPO Fully Subscribed","subCategories":["scid_4d81caea"],"region":"IN","bundleMetaData":{"bundleId":"ece1ae3d-908e-48c7-9e53-a4aa910ee4db","bundleTitle":"Grow Your Money","cardData":null},"iabCategoryId":"68","fcSummary":"ICICI Prudential AMC's IPO was fully subscribed on its second day, with bids exceeding shares offered by 1.42 times. Non-institutional and qualified institutional buyers showed strong interest. The IPO involves an offer-for-sale by Prudential Corporation Holdings.","summary":"ICICI Prudential AMC's IPO, a unit of ICICI Bank, witnessed full subscription on Monday, marking the second day of its share sale.","ctaUrl":"https://trends.glance.com/newz/India_News/IN/en/pti/f-8b070c46fc-272135af-a118-5785-829b-c227edf732c5","sourceUrl":"http://www.ptinews.com","bannerImage":"https://g-mob.glance-cdn.com/public/dynamic/720x1280/493b02b2a98f3bc27a68bebc51de89d998529d06.webp","content":"

New Delhi, Dec 15 (PTI) The initial public offering (IPO) of ICICI Prudential Asset Management Company Ltd, an arm of the ICICI Bank, got fully subscribed on the second day of share sale on Monday.

The

\n\n

IPO received bids for 4,97,60,868 shares against 3,50,15,691 shares on offer, translating into 1.42 times subscription, according to NSE data till 13:27 hours.

Non-institutional investors portion received 2.32 times subscription, while the quota for Qualified Institutional Buyers (QIBs) got subscribed 2.04 times. Retail Individual Investors (RIIs) category received 61 per cent subscription.

\n\n

ICICI Prudential Asset Management Company (AMC) on Thursday said it has raised Rs 3,022 crore from anchor investors.

\n\n

The company has fixed a price band of Rs 2,061 to Rs 2,165 per share for the issue, valuing it at about Rs 1.07 lakh crore (USD 11.86 billion).

The IPO 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 conclude on Tuesday.

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

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

\n\n

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

","readDurationInMinutes":"3","author":{"name":"PTI","logo":"https://glance-mob.glance-cdn.com/public/bubble/jpeg/b4428283-3bff-45db-a5fa-15dccca89081.jpeg"},"ism":false,"analyticsResponses":[],"pointerSummary":["ICICI Prudential AMC IPO fully subscribed on day 2, 1.42 times over.","Anchor investors gave Rs 3,022 cr; price band Rs 2,061-2,165/share.","Prudential selling 4.89 cr shares; ICICI Group's 5th listing."],"tags":["ICICIPrudentialAMC","IPO","StockMarket","ICICIBank","PrudentialCorporation","ShareSale","NSE","QIBs","RIIs","AnchorInvestors","OfferForSale","HDFCAMC","UTIAMC","AdityaBirlaSunLifeAMC","ShriramAMC","NipponLifeIndia","ICICIPrudentialLife","ICICILombard","ICICISecurities"],"consent":true,"redirectionEnabled":false}

ICICI Prudential AMC IPO fully subscribed on Day 2

SUMMARY