ICICI Prudential shares fall 5.5% below issue price on debut
ICICI Prudential became the first insurer in the country to be listed on the BSE and NSE on Thursday.
ICICI Prudential Life Insurance Limited became the first domestic insurer on Thursday to list its shares.
The company's shares debuted on the BSE at Rs 329 apiece, a 1.5% discount from the issue price of Rs 334. On the NSE, it was listed at 330 a share.
Intraday, ICICI Pru's shares hit a day's low of Rs 315.65, down 4.1% from the listing price of Rs 329 and down 5.5% from the initial issue price.
ICICI Prudential Rs 6,000-crore IPO opened on September 19, and concluded last week on September 21. It was oversubscribed 10.48 times.
The IPO will have ICICI Bank sell 12.63% of its stake to raise nearly Rs 6,057 crore, while Prudential Partners will not be trimming its stake holding.