ICICI Prudential AMC initial public offering opened to a moderate response on the first day, with overall bids reaching 0.73 times the shares on offer. Early demand showed clear differences across investor groups.
The strongest interest came from Qualified Institutional Buyers. Their quota was subscribed 1.97 times, suggesting that institutional investors were comfortable with ICICI Prudential AMC’s pricing and business outlook.
High net worth investors were more cautious. The general HNI segment was subscribed 0.38 times. Within that, bids of ₹10 lakh and above came in at 0.32 times, while the ₹2 lakh–plus category saw a slightly better 0.48 times. Market watchers said many HNIs may wait until later in the issue to decide, especially if subscription numbers pick up.
Retail participation was lighter at 0.21 times. Some brokers noted that the issue size and valuation may have encouraged small investors to take a “wait and watch” approach on day one. The shareholder category showed a bit more energy, ending the day at 0.45 times.
Activity in the grey market pointed to modest optimism. The issue traded at a premium of around 12 percent on the first day, hinting at positive sentiment but not a runaway buzz.
With two more days of bidding left, traders will be watching whether institutional demand continues and whether retail and HNI interest strengthens. Subscription levels during the final bidding sessions typically give a clearer picture of how the stock might perform on listing day.
