ICICI Prudential AMC IPO GMP Signals Strong Listing Buzz Ahead of Market Debut

The grey market premium (GMP) for the initial public offering (IPO) of ICICI Prudential AMC Ltd. remains in focus today as investors await the crucial allotment status finalisation for the IPO.

The mainboard issue was subscribed 39.17 times on Tuesday, with investors bidding for 1,37,14,89,456 shares against the 3,50,15,691 on offer.

The GMP for the IPO has gained consistently since the public issue opened for subscription on December 12. The grey market premium has jumped by over 40% after its launch, indicating strong interest among private market investors.

Shares of ICICI Prudential AMC are expected to list on the NSE and BSE on December 19. As the listing date draws closer, investors will continue to monitor these trends, which indicate a listing gain of around 17%.

The grey market premium (GMP) for the ICICI Prudential AMC IPO was Rs 365 per share, as of 9:30 a.m. on December 17.

Compared to the upper limit of the IPO price band of Rs 2,165, the latest GMP indicates an estimated listing price of Rs 2,530 apiece. According to the latest GMP, shares of ICICI Prudential AMC are likely to be listed at a premium of 16.86% over the upper limit of the issue price.

Note: GMP does not represent official data and is based on speculation.

The ICICI Prudential AMC IPO is a book-building issue aimed at raising Rs 10,602.65 crore from the primary market. The IPO is a 100% offer-for-sale (OFS) of 4.9 crore shares. The price band for the mainboard issue has been fixed at Rs 2,061 to Rs 2,165 per share. Retail investors are required to apply for at least a single lot size of six shares, worth Rs 12,990 at the upper limit of the price band.

Kfin Technologies Ltd. is the issue registrar, while Citigroup Global Markets India Pvt. Ltd. is the book-running lead manager.

The ICICI Prudential AMC IPO allotment status will be finalised on December 17. Refunds and transfer of shares to demat accounts will be initiated by the company on December 18.

The Rs 10,602.65-crore mainboard issue opened for subscription on December 12 and closed on December 16.

ICICI Prudential AMC is a leading asset management company. Founded in 1993, it is a joint venture between ICICI Bank and Prudential Plc, a British financial services conglomerate.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.