ICICI Prudential AMC IPO on Day 3 (Dec 16) shows GMP of ₹302 (14% premium), with subscription over 2x led by QIBs (2.91x) and NIIs (3.79x). ₹10,602 Cr OFS priced ₹2,061-2,165 closes today; brokerages recommend long-term subscribe amid strong AUM growth.
Subscription Update
Bidding for India's largest active AMC IPO intensifies on final day, fully subscribed early with institutional strength. Retail at 0.83x lags but shareholder quota hits 2.84x. Listing eyed Dec 19 post Dec 17 allotment.
Key Highlights
GMP Trend: ₹302 (13-14% over ₹2,165 upper band), up from Day 2's ₹280; signals listing gains.
Subscription (Day 2 close): Overall 2.1x; QIB 2.91x, NII 3.79x, Retail 0.83x.
Issue Details: ₹10,602 Cr OFS (lot 6 shares, min ₹12,990); no fresh capital.
Broker Views: Anand Rathi, Aditya Birla: Subscribe long-term (40x FY25 P/E fair); Arihant: High risk appetite only.
Sources: Moneycontrol, Economic Times, Chittorgarh, Financial Express