New Delhi: The initial public offering (IPO) of ICICI Prudential Asset Management Company Ltd, an arm of the ICICI Bank, got subscribed 72 per cent on the first day of share sale on Friday.
The IPO received bids for 2,53,66,506 shares against 3,50,15,691 shares on offer, according to NSE data.
Among investors category, qualified institutional buyers fetched 1.97 times subscription, while the quota for non-institutional investors got subscribed 37 per cent. The category for retail individual investors received 21 per cent subscription.
ICICI Prudential Asset Management Company (AMC) on Thursday said it has raised Rs 3,022 crore from anchor investors.
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 December 16.