ICICI Prudential AMC IPO Gets Oversubscribed 1.36 times on Day 2

ICICI Prudential Asset Management Company’s ₹10,603-crore IPO was oversubscribed by noon on the second day of bidding, December 15, driven by steady institutional interest and a noticeable rise in demand from non-institutional investors and shareholders.

As per consolidated data from the NSE and BSE, the issue was subscribed 1.36 times by 1:00 pm on Monday, with bids received for about 4.8 crore shares against an equal number on offer.

Non Institutional Investors (NII) led the charge with subscription reaching 2.20 times, attracting bids for 1.52 crore shares compared with the 69 lakh shares reserved for the category.

Large NIIs were subscribed 2.17 times, while small NIIs showed stronger traction at 2.31 times, driven largely by individual investors.

Qualified Institutional Buyers (QIB) also showed strong momentum with 2.03 times subscription rate and accounting for 1.8 crore shares compared to the allotted 93 lakh shares.

Foreign institutional investors accounted for 87.84 lakh shares, while domestic financial institutions and insurance companies bid for 46.20 lakh shares. Mutual funds submitted bids for 26.03 lakh shares, with the rest coming from other institutional participants.

The shareholder category crossed full subscription as well, reaching 1.10 times, with bids for 26.12 lakh shares against an allocation of 24.49 lakh shares.

Retail participation continued to build gradually. By mid-morning, the retail portion was subscribed 36%, with bids for 58.69 lakh shares against 1.63 crore shares reserved. Most of the demand in this category came through cut-off bids.

On the first day of the issue, December 12, the IPO was subscribed 72%, receiving bids for 2.53 crore shares against 3.50 crore shares on offer, according to NSE data.

The offering is entirely an offer for sale of over 4.89 crore shares by the promoter, UK-based Prudential Corporation Holdings, which means the company itself will not receive any proceeds from the IPO.

The issue had already seen strong institutional interest through its ₹3,021.8-crore anchor book, and trends on Day 2 indicate broad-based participation across investor categories.

With one more day of bidding left, the focus will now be on whether overall subscription levels move meaningfully beyond full coverage as the book builds further.