ICICI Securities makes weak debut; lists 17% below issue price on BSE

ICICI Securities made a weak debut by listing at Rs 431, a 17% lower against its issue price of Rs 520 per share on the BSE. On the National Stock Exchange (NSE), the stock opened at Rs 435, a 16% below its offer price.
At 10:01 am; ICICI Securities was trading at Rs 445 after hitting high of Rs 457 post its listing on the BSE. Around 300,000 shares changed hands on the counter on the BSE, the exchange data shows.


ICICI Securities had reduced the size of its initial public offer (IPO) to Rs 35.15 billion after the sale elicited a sluggish response, especially from high networth individuals. The IPO was subscribed 0.78 times, received bids for 34.68 million shares, against offer size of 44.22 million shares, data on the stock exchanges website showed.

The qualified institutional buyers (QIBs) category of the IPO was subscribed1.04 times and retail individual investors (RIIs) category was subscribed 0.88 times and of non institutional investor’s category by 0.35 times, data showed.

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