MUMBAI: ICICI Prudential Asset Management Co that closed its blockbuster IPO on Tuesday, listed on Friday at 20% premium over its IPO price and closed the session as the most-valued fund house in India. The stock on BSE listed at Rs 2,606 compared to its IPO price of Rs 2,165. It closed the session at Rs 2,587 that gave it a market capitalisation of nearly Rs 1.28 lakh crore.In comparison, HDFC AMC has a market cap of a little over Rs 1.1 lakh crore while Nippon Life AMC is at almost Rs 56,600 crore, BSE data showed.The bidding part of the Rs 10,600-crore I-Pru MF IPO closed with nearly 55 lakh applicants, that got it a subscription of a little over 39 times. The large number of applications made the IPO one of the most subscribed offers in India ever, data from merchant bankers showed. Through this IPO, the UK-based Prudential Corp, the joint venture partner of ICICI Bank in the fund house, sold nearly 4.9 crore shares.
