ICICI Prudential AMC IPO GMP: The IPO of ICICI Prudential AMC, the country’s second largest asset management company, is going to open next week, but before that, it is seen creating a ruckus in the gray market. The company’s shares are trading at a premium of Rs 350 in the gray market. This means that if you are allotted this IPO by placing a bet, you can make a profit of Rs 350 on each share on listing.
The IPO of ICICI Prudential AMC, a subsidiary of ICICI Bank, is going to open on December 12. Investors can invest money in it till 16th December. The company has fixed the price band for its IPO. It ranges from Rs 2,061 to Rs 2,165 per share. The face value of each share will be Rs 1.
Listing may happen on December 19
After the IPO closes on 16 December, the allotment will be final on 17 December. The company’s shares can be listed on BSE and NSE on December 19. This will be the 5th company of ICICI Group to be listed. Earlier, ICICI Bank, ICICI Prudential Life Insurance Company, ICICI Securities and ICICI Lombard General Insurance Company have been listed in the market.
Fifth AMC to be listed
ICICI Prudential AMC will be the fifth AMC to be listed in the country. Earlier, HDFC AMC, UTI AMC, Aditya Birla Sun Life AMC, Shriram AMC and Nippon Life India AMC have been listed. ICICI Prudential AMC manages 143 mutual fund schemes.
completely offered for sale
This issue is completely Offer for Sale (OFS). In this, the promoter company Prudential Corporation Holdings of Britain will sell 4.89 crore equity shares. Since no new shares are being issued in the IPO, the company will not get any money from this issue.
What’s going on GMP?
This IPO is available in the gray market at a premium of Rs 340. This means that the company’s shares can be listed at Rs 2,505, i.e. investors can get a profit of 15.70 percent on the listing, however, the situation in the gray market keeps changing continuously. According to market experts, investment decisions should be taken based on the business health of the company rather than signals received from the gray market.
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