ICICI Pru AMC shares make stellar market debut, jump over 19%

New Delhi: Shares of ICICI Prudential Asset Management Company Ltd on Friday ended with a premium of over 19 per cent against the issue price of Rs 2,165. The stock made its debut at Rs 2,606.20, registering a premium of 20.37 per cent from the issue price on the BSE.

Later, it surged 22.95 per cent to Rs 2,662. Shares of the firm finally ended at Rs 2,586.70, up 19.47 per cent.

At the NSE, the stock listed at Rs 2,600, a jump of 20 per cent from the issue price. It later ended at Rs 2,585.90, up 19.44 per cent.

The company’s market valuation stood at Rs 1,27,849.85 crore.

In traded volume terms, 36.34 lakh shares of the firm were traded at the BSE and 314.23 lakh shares on the NSE during the day.

The initial public offering of ICICI Prudential Asset Management Company Ltd, an arm of the ICICI Bank, received 39.17 times subscription on the final day of bidding on Tuesday, led by heavy demand from institutional buyers.

The Rs 10,602.65-crore IPO had a price band of Rs 2,061-2,165 per share.

After its market debut, ICICI Prudential AMC joined listed asset managers such as HDFC AMC, UTI AMC, Aditya Birla Sun Life AMC, Shriram AMC, and Nippon Life India Asset Management.