ICICI Prudential AMC Shares Make Stellar Market Debut; Jump over 20%

Shares of ICICI Prudential Asset Management Company Ltd on Friday listed with a premium of over 20% against the issue price of ₹2,165.

The stock made its debut at ₹2,606.20, registering a premium of 20.37% from the issue price on the BSE. Later, it surged 22.95% to ₹2,662.

At the NSE, the stock listed at ₹2,600, a jump of 20% from the issue price.

The company's market valuation stood at ₹1,27,790.54 crore.

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 ₹10,602.65 crore IPO had a price band of ₹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.

It also became the fifth ICICI Group entity to be listed, after ICICI Bank, ICICI Prudential Life, ICICI Lombard, and ICICI Securities.