ICICI Prudential AMC IPO Day 1 LIVE: ICICI Prudential AMC IPO opened for bidding today, December 12, intending to raise ₹10,602 crore. The IPO will remain open until December 16.
ICICI Prudential AMC IPO price band has been set at ₹2,061– ₹2,165 per share, valuing the company at approximately ₹1.07 lakh crore. The IPO is entirely an offer for sale (OFS) of over 4.89 crore shares by promoter Prudential Corporation Holdings (UK), meaning the company itself will not receive funds from the issue.
Currently, ICICI Bank holds 51%, while Prudential owns 49% of the AMC. Upon listing, ICICI Prudential AMC will become the fifth ICICI Group entity to be listed, after ICICI Bank, ICICI Prudential Life, ICICI Lombard, and ICICI Securities.
The company raised ₹3,022 crore from anchor investors ahead of its IPO.
ICICI Prudential AMC IPO GMP
ICICI Prudential AMC IPO GMP today is ₹150, highest so far. This means that shares of the AMC are trading ₹150 above the upper end of the price band. At the prevailing GMP, offer could list at ₹2315, a premium of 7%.
The company is expected to debut on the stock exchanges on December 19.
Watch this space for LIVE updates on ICICI Prudential AMC IPO.
