ICICI Prudential AMC IPO Day 1 update: Bidding picks up by noon; retail, shareholder categories drive demand

ICICI Prudential AMC IPO Subscription Update

ICICI Prudential AMC’s Rs 10,603-crore IPO gained traction by midday on Friday, with overall subscription rising to 0.08 times (8 percent) as of 12:00 noon, according to combined NSE and BSE data. The issue opened for public bidding this morning and will close on December 16.

According to consolidated NSE and BSE data, ICICI Prudential AMC IPO had received bids for 28.99 lakh shares by noon, against 3.5 crore shares on offer for the public.

Retail, shareholder categories interest strengthens

Retail participation improved through the morning, with the category subscribing 10 percent. Retail investors bid for 16.44 lakh shares so far against the allocated 1.63 crore shares, driven largely by cut-off bids.

The shareholder category continued to show strong momentum, reaching 17 percent subscription with bids for 4.06 lakh shares against 24.49 lakh shares reserved. This segment has emerged as one of the strongest early contributors to demand.

• Also read | Mid- and Small-Cap stocks see heavy correction so far in December

NII segment sees sharper pickup; QIBs yet to enter

Non-institutional investors (NIIs) showed a noticeable rise in activity, taking category subscription to 12 percent by noon. The segment saw bids for 8.48 lakh shares against 69.79 lakh shares on offer.

• High-value NII (sNII) bids reached 0.10x, led mainly by individual bidders
• Small NII (bNII) bids climbed to 0.16x, indicating stronger traction in the Rs 2-10 lakh band

As expected, QIBs have still not entered the book in any meaningful manner, with category subscription at 0 percent. Institutional participation typically concentrates on the final bidding day.

Strong anchor demand, steady GMP ahead of listing

The IPO opened a day after ICICI Prudential AMC raised Rs 3,021.8 crore from 149 anchor investors, including major domestic mutual funds, top global institutions and large insurers. In the unlisted market, the grey market premium (GMP) continues to hover around 5-6 percent.

ICICI Prudential AMC IPO details

• Price band: Rs 2,061-2,165
• Issue structure: 100 percent OFS of 4.90 crore shares
• Subscription window: Dec 12-16
• Allotment: Dec 17
• Listing: Dec 19 (BSE, NSE)
• Registrar: KFin Technologies

With retail, shareholder and NII categories showing building momentum, investors will track whether subscription accelerates further through the afternoon and into the second half of the bidding period.

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