ICICI Prudential Life Insurance shares made a disappointing debut on bourses and listed at Rs 330 on NSE and at Rs 329 on BSE against the issue price of Rs 334. Shares of the insurer closed nearly 11 per cent down at Rs 297.65 on BSE against the issue price. On NSE, the scrip settled 10.35 per cent down at Rs 295.85. The public offer of the company got an\u00a0overwhelming response from investors and got oversubscribed by 10.48 times. The company had fixed a price band of Rs 300-334 per share and the issue was opened for subscription from September 19 to September 21. This was the biggest IPO after Coal India, which had hit the capital markets in 2010 to raise over Rs 15,000 crore. The public offer of the insurer had received bids for 1,38,77,01,348 shares against 13,23,78,973 shares offered by the company. The objectives of the public offer was to get the benefits of listing the equity shares of the company on the stock exchanges. The listing of equity shares will enhance the \u2018ICICIPrudential\u2019 brand name and provide liquidity to the existing shareholders. As on June 30, 2016, the company\u2019s solvency ratio was 320.5 per cent compared to the IRDAI-prescribed control level of 150 per cent. Qualified institutional buyers (QIBs) bid for around 38.62 crore shares of the total 3.2 crore shares on offer or nearly 12 times their quota. High net-worth (HNIs) individuals bid for 69.89 crore shares of the 2.44 crore shares reserved for them or nearly 29 times the quota. Retail investors bid for nearly 1.3 times of their quota or 7.44 crore shares of the 5.71 crore shares reserved for them. The issue had reserved 1.81 crore shares for shareholders of ICICI Bank, these shareholders bid for 22.13 crore shares or 12.2 times of their quota.