On its day of debut ICICI Prudential Life Insurance falls like a pack of cards

ICICI Prudential Life certainly had a bad day on the D-street. The shares of the company have fallen by over 10 per cent on its listing day. ICICI Prudential Life early this morning on September 29 had listed itself at a discount, at Rs 329, down by 1.5 per cent from the its band price of Rs 334 per share.

The 6000 crores IPO was the biggest IPO in the last 6 years. The issue which opened on September 19, was oversubscribed 10.48 times. The reserved portion of qualified institutional buyers was oversubscribed 11.83 times and non-institutional investors' category 28.55 times. The reserved category of retail investors was oversubscribed 1.42 times and shareholders' portion 12.2 times. The price band for the IPO was Rs 300 to Rs 334 per share.

On the contrary, the surgical strikes by the Indian Army has left the Indian markets gasping for breath. The BSE Sensex as at 2.40 am is trading at 27760, down by over 530 points. The Nifty too is down by over 150 points.