ICICI Prudential Mutual Funds IPO subscribed 72% on opening day

MUMBAI: The Rs 10,600-crore IPO for ICICI Prudential Mutual Fund was subscribed 72% on day 1 with the institutional investors portion subscribed nearly two times. The high net worth part was subscribed 37%, the retail portion 21% while the part reserved for shareholders of ICICI Bank was subscribed 44%. Through the bidding round, Prudential Corp Holdings, the joint venture partner of ICICI Bank in the fund house, is selling about 3.5 crore shares at a price band of Rs 2,061 – Rs 2,165 per share. The IPO bidding will be closing on December 16.