For its impending IPO, the ICICI Bank subsidiary declared a price range of ₹2,061 to ₹2,165 per equity share, with a face value of ₹1.
On Friday, December 12, ICICI Prudential AMC is scheduled to begin its initial public offering (IPO). On December 16, the mainboard IPO will still be open for bids.
For its impending IPO, the ICICI Bank subsidiary declared a price range of ₹2,061 to ₹2,165 per equity share, with a face value of ₹1.
According to ICICI AMC, investors may submit bids in multiples of six, with a minimum IPO bid size of six shares. According to the red herring prospectus, anchor investor bidding is set for December 11 and the company's initial public offering will finish on December 16.
The offer for sale (OFS) of 4.89 crore shares by its promoter, UK-based Prudential Corporation Holdings, makes up the entire IPO. Since it is a pure OFS, no new shares are being issued, and the selling shareholder will receive the proceeds rather than the firm.
At the moment, Prudential Corporation Holdings holds 49% of the asset management company, with ICICI Bank holding 51%.
ICICI Bank said on June 28 that its board had authorized the acquisition of an extra 2% of ICICI Prudential AMC. The bank stated that this action is intended to preserve its majority ownership, especially in the event that the AMC offers stock-based compensation in the future.
Even if its joint venture partner expects to float the AMC and partially dilute its investment, ICICI Bank had stated in February that it intends to maintain its controlling position. This would join HDFC AMC, UTI AMC, Aditya Birla Sun Life AMC, Shriram AMC, and Nippon Life India Asset Management as the fifth asset management firm listed on the exchanges.
After ICICI Bank, ICICI Prudential Life Insurance, ICICI Lombard General Insurance, and ICICI Securities, it would also be the fifth ICICI Group company to go public.
Today's ICICI Prudential AMC IPO GMP
According to investorgain, the shares of ICICI Prudential AMC IPO are currently trading on the gray market at ₹115 per. This indicates that ICICI Prudential AMC IPO +115's GMP.
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