ICICI Prudential AMC IPO Day 2: Issue subscribed 2 times as NII, QIB demand accelerates

ICICI Prudential Asset Management Company’s Rs 10,603-crore IPO saw a sharp acceleration in demand through on Day 2 of bidding, with the issue subscribed 2.11 times on Monday, led by strong participation from non-institutional investors (NIIs) and qualified institutional buyers (QIBs). According to consolidated NSE and BSE data, ICICI Prudential AMC IPO received bids for 7.38 crore shares against 3.50 crore shares on offer.

ICICI Prudential AMC IPO: QIB, NII books deeply oversubscribed

Qualified institutional buyers (QIBs) continued to anchor ICICI Prudential AMC public issue, with the category subscribed 2.91 times. The segment received bids for 2.07 crore shares against 93.05 lakh shares reserved. Foreign institutional investors bid for 1.62 crore, while domestic financial institutions and insurance companies accounted for 47.13 lakh shares. Mutual funds bid for 27.28 lakh shares, with other institutional investors contributing the balance.

• Also read | Mutual Funds keep cash buffers elevated in November amid market gains

ICICI Prudential AMC IPO’s NII segment saw a sharp surge in demand, reaching 3.79 times subscription. Bids stood at 2.64 crore shares against 69.79 lakh shares on offer.

• Large NIIs subscribed 4 times


• Small NIIs subscribed 3.05 times, led largely by individual investors

Shareholder quota strongly oversubscribed; retail participation improves

The shareholder category strengthened further, reaching 2.84 times subscription, with bids for 69.46 lakh shares against 24.49 lakh shares reserved. Retail investor participation also picked up steadily, with the category subscribed 83 percent. Retail investors bid for 1.34 crore shares against an allocation of 1.63 crore shares, with the bulk of demand coming through cut-off bids.

• Check all IPO details and news here

Institutional momentum builds into close

The IPO continues to see strong institutional support following its Rs 3,021.8-crore anchor book, with Day 2 trends pointing to broad-based participation across categories. With one more day of bidding remaining, market participants will now track whether subscription levels build further into the close and on the final day.

ICICI Prudential AMC IPO: Key details

• Price band: Rs 2,061-2,165


• Issue structure: 100 percent offer for sale of 4.90 crore shares


• Subscription window: December 12-16


• Allotment: December 17


• Listing: December 19 (BSE, NSE)


• Registrar: KFin Technologies

---

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.