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The initial public offering (IPO) of ICICI Prudential Life Insurance saw increased interest on Wednesday, with the issue receiving bids 10.42 times the shares on offer.
At 5 pm on the last day, bids for over 137.99 crore shares were received across both the exchanges, the BSE and the NSE. Of this, bids for over 7.67 crore shares were placed at cut-off. On the first two days of the offer, bids were received for just 52 per cent of the offer-for-sale.
At the lower end of the ₹300-334 price band, the issue received bids worth ₹41,461.94 crore. The institutional investor category was subscribed 11.83 times of 32.64 million shares on offer, while the non-institutional category, comprising high-net-worth individuals, was subscribed 28.55 times.
A little more than 24.48 million shares were reserved for rich investors.
Retail investors, whose investments cannot exceed ₹2 lakh per individual, subscribed to 1.32 times of the 57.12 million shares on offer.
The portion reserved for shareholders — existing ICICI Bank shareholders as on September 7 and looking to bid additional shares — was subscribed 12.2 times.
The total IPO size at the upper end of the price band of ₹300-334 is over ₹6,000 crore.
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