Friday, 30 September 2016

ICICI Prudential Life Shares lists below its Issue Price

Shares of ICICI Prudential Life Insurance Company Ltd on Thursday changed hands at a lower price in the markets on its debut as against its issue price of Rs 334. 

The stock closed at Rs 297.55 in the NSE after opening at Rs 330. The company raised Rs 6,057 crore, coming out with a premium initial public offer (IPO) recently which was oversubscribed by just over 10 per cent. 

During the intra-day trade, the stock touched a high of Rs 333.90 just short of its issue price and a low of Rs 295.15 and closed at Rs 297.55.

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