ICICI Pru AMC IPO fully subscribed on day 2

New Delhi: The initial public offering of ICICI Prudential Asset Management Company Ltd, an arm of the ICICI Bank, was fully subscribed on the second day of share sale on Monday, led by institutional investors.

The IPO received bids for 7,38,53,904 shares against 3,50,15,691 shares on offer, translating into 2.11 times subscription, according to NSE data.

The non-institutional investors’ portion received 3.79 times subscription, and the quota for Qualified Institutional Buyers (QIBs) got subscribed 2.91 times. The Retail Individual Investors (RIIs) category received 83 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 2,061-2,165 per share for the issue, valuing it at about Rs 1.07 lakh crore ($11.86 billion).

The initial public offering (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.