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News Topical, Digital Desk : The company's shares will be in particular focus on January 16th as a significant stake is being unlocked. The lock-in period for approximately 700,000 shares, valued at approximately ₹1,910 crore, is expiring. However, the lock-in period does not mean that all shares will be immediately sold, but rather that they will only become available for trading. Brokerage houses are already keeping a positive eye on this stock.
Shares of ICICI Prudential Asset Management Company (ICICI Prudential AMC) are going to be a big attraction in the market on January 16. The reason is: approximately 1% of the company's shares are about to be unlocked in the market. According to Nuvama Alternative & Quantitative Research, the lock-in period for approximately 7 million shares is ending, meaning these shares will now be available for trading. It's important to understand that the end of the lock-in period does not guarantee that all shares will suddenly be sold in the market. It simply means that the owners of these shares will now have the freedom to sell or hold them. The market closely monitors such unlock events because the potential for increased supply could lead to fluctuations in share prices. Based on Wednesday's closing price of ₹2,729, the total market value of these shares is approximately ₹1,910 crore. Interestingly, ICICI Prudential AMC stock is trading approximately 26% above its IPO price of ₹2,165. Brokerage Views – Strong Sentiment on the Stock Various brokerage houses are already bullish on the company. Centrum Broking has given it a "Buy" rating and a target of ₹3,181. Equirus Securities has given it a "Long" rating and a target of ₹2,900. PL Capital (Prabhudas Lilladher Group) has also initiated coverage, issuing a "Buy" call and a target of ₹3,000. Clearly, brokerages remain positive on the stock, and confidence in its financial strength remains undiminished even after the unlock event. ICICI Prudential AMC made a strong debut on the day of its listing. Its stock listed at ₹2,600, a premium of more than 20% over the IPO's upper price band of ₹2,165. The company's ₹10,603 crore IPO received a positive response from investors. Shortly after listing, ICICI Prudential AMC became India's most valuable listed asset management company. Its market cap is approximately ₹1.12 lakh crore, exceeding that of larger companies like HDFC AMC and Nippon Life India AMC. HDFC AMC's value is approximately ₹56,000 crore, and Nippon India AMC's value is also approximately ₹56,000 crore, demonstrating ICICI Prudential AMC's strong hold in the mutual fund industry. Share Status: ICICI Prudential AMC's stock rose 2.14% on Wednesday to close at ₹2,729. It will be interesting to watch the market's performance a day after the unlock event.
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