ICICI Prudential AMC IPO: Day 1 Subscription 0.26x; Brokerages Advise 'Subscribe'

• ICICI Prudential AMC IPO opened on December 12 and closes on December 16, with a price band of Rs 2,061-2,165 per share.
• The Rs 10,602-crore IPO received 0.26x subscription on Day 1, with retail at 0.15x and QIB at 0.46x.
• Grey market premium (GMP) for the IPO stands at 7.07%, indicating a moderate listing.
• Brokerages like Canara Bank Securities and Anand Rathi recommend "Subscribe for Long Term" due to strong market position and industry growth.
• The IPO is an offer-for-sale by Prudential Corporation Holdings and is scheduled to list on December 19.

Why It Matters: It helps investors decide on applying for the ICICI Prudential AMC IPO.