ICICI Prudential AMC IPO Day 1 update: Subscription jumps to 0.31x by 3 pm as QIBs step in

ICICI Prudential AMC’s Rs 10,603-crore IPO saw a sharp pickup in demand during afternoon trade on Friday, with overall subscription rising to 0.31 times (31 percent) by 3:00 pm on Day 1, driven largely by the entry of qualified institutional buyers (QIBs). According to consolidated NSE and BSE data, ICICI Prudential AMC IPO had received bids for 1.1 crore shares by 3:00 pm, against 3.5 crore shares on offer for the public.
QIBs lead bidding momentum in ICICI Prudential AMC IPO
After staying on the sidelines through most of the morning, QIBs entered the book in size by mid-afternoon, subscribing 60 percent of their allocated quota. The category saw bids for 55.75 lakh shares against 93.05 lakh shares reserved. Within the QIB book, mutual funds accounted for 26.03 lakh shares, while foreign institutional investors bid for 13.45 lakh shares. Other institutional investors contributed the balance.
Retail, shareholder segments continue to build
Retail investor participation continued to strengthen, with the category subscribing 17 percent by 3:00 pm. Retail investors placed bids for 28.1 lakh shares against an allocation of 1.63 crore shares, with the bulk of demand coming through cut-off bids.
The shareholder category also remained active, reaching 34 percent subscription. Bids stood at 8.22 lakh shares against 24.49 lakh shares reserved for eligible shareholders, making it one of the strongest-performing segments on Day 1.
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NII demand improves steadily
Non-institutional investors (NIIs) maintained a steady rise in participation, with the category subscribing 25% overall.
The large NII (sNII) segment subscribed 0.20x
The small NII (bNII) segment continued to show stronger traction at 0.35x, led largely by individual bidders
Strong anchor backing sets the tone, GMP improves ahead of listing
The IPO opened a day after ICICI Prudential AMC raised Rs 3,021.8 crore from 149 anchor investors, including leading domestic mutual funds, global institutional investors and major insurers. The presence of anchor investors appears to have supported institutional confidence. In the unlisted market, the grey market premium (GMP) appeared to rise to 7-9 percent today, from around 5-6 percent the previous day.
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 QIBs now active and retail, shareholder and NII categories showing steady participation, the pace of subscription through the remainder of Day 1 and into the second half of the bidding period will be closely tracked by the market.