ICICI Prudential AMC makes a strong market debut, listing 20% above IPO price.
ICICI Prudential AMC makes strong market debut on the dalal street listing at a premium of over 20% against the issue price of Rs 2,615. The stock was listed at INR 2,606 with a premium of 20.37% on the BSE and moving ahead reaching the levels of Rs 2,662 with registering premium around 23%.
The stock listed at NSE for Rs 2,600, with a jump of 20% from the issue price. Whereas the company’s market valuation was at Rs 1,27,790.54 crore.
The initial public offering of ICICI Prudential Asset Management Company Ltd, a subsidiary of ICICI Bank, witnessed an overwhelming response from investors, receiving a 39.17-times subscription on the final day of bidding on Tuesday. The strong demand was largely driven by institutional investors, highlighting robust confidence in the company’s growth prospects and the broader asset management sector.
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The IPO, which aimed to raise Rs 10,602.65 crore, was offered within a price band of Rs 2,061 to Rs 2,165 per share. The issue attracted significant participation across categories, reflecting positive market sentiment and strong appetite for quality financial services offerings.
With its listing, ICICI Prudential AMC joined the ranks of other publicly traded asset management companies in India, including HDFC Asset Management Company, UTI AMC, Aditya Birla Sun Life AMC, Shriram AMC, and Nippon Life India Asset Management. The debut further strengthens the representation of the mutual fund industry in the equity markets.
Additionally, the listing marked ICICI Prudential AMC as the fifth entity from the ICICI Group to be listed on Indian stock exchanges. It follows the successful listings of ICICI Bank, ICICI Prudential Life Insurance, ICICI Lombard General Insurance, and ICICI Securities, reinforcing the group’s strong presence across multiple segments of the financial services space.
