Overview
- Shares debuted at Rs 2,606.20 on BSE and Rs 2,600 on NSE, about 20% above the Rs 2,165 issue price.
- The stock touched an intraday high near Rs 2,662 before slipping below the opening level to around Rs 2,574 and closed near Rs 2,586 on day one.
- The debut valued the company at roughly Rs 1.27 lakh crore, surpassing HDFC AMC to become the most valuable listed asset manager.
- The Rs 10,602.65 crore IPO was entirely an offer-for-sale by Prudential Corp (UK), so the company received no fresh proceeds.
- Subscription reached 39.17 times overall with QIBs at 123.87 times, and brokerages issued positive calls with targets around Rs 2,900–3,181, urging a long-term view.