ICICI Prudential AMC IPO fully subscribed on Day 2
ICICI Prudential AMC's IPO saw strong demand, getting fully subscribed by the second day.
Investors bid for 1.42 times the available shares—about 5 crore bids for 3.5 crore shares—at a price band of ₹2,061-₹2,165 per share.
The offer is a pure sale by Prudential Corporation Holdings, with no new shares being issued.
What does ICICI Prudential AMC do?
This company is a joint venture between ICICI Bank and Prudential, managing a wide range of mutual funds across India.
It's already well-known in the asset management space and will join listed peers like HDFC AMC and UTI AMC after this IPO—the fifth public listing from the ICICI Group.
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Investor interest was especially high among big players: Qualified Institutional Buyers subscribed over twice their allotted shares (2.04x), and Non-Institutional Investors went even higher at 2.32x; retail investors covered about 61% of their quota as of 1:27pm on Day 2.
Bidding closes Tuesday, with allotment expected Wednesday.
The anchor book already raised ₹3,022 crore on Thursday—showing plenty of confidence in the company's future potential.