ICICI Prudential OFS subscribed 3.9 times; investors bid for 210 mn shares

Till December, ICICI Prudential had 21.31 per cent public shareholding

The offer for sale of ICICI Prudential saw subscription of 3.9 times. Investors bid for 210 million shares against 53.26 million shares on offer.  

The sale of equity by the Prudential Corporation Holdings,  a joint venture partner in ICICI Prudential Life Insurance, will fetch the company Rs 1,683 crore. The shares were sold at Rs 316  apiece, at a 1.25 per cent discount to ICICI Pru’s closing price of Rs 320.15 on Tuesday. 

This stake sale has been made to reach the minimum threshold of the public shareholding of 25 per cent in the first three years of listing by any listed