ICICI Bk to buy 2% extra stake in ICICI Pru AMC to ensure majority holding
This story was originally published at 18:32 IST on 8 December 2025
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--ICICI Bank executes pact with Prudential Corp to buy 2% in ICICI Pru AMC
--ICICI Bank bought additional 2% stake in ICICI Pru AMC for INR 21.40 bln
MUMBAI – ICICI Bank Ltd. will purchase an additional stake of up to 2% in ICICI Prudential Asset Management Co. Ltd. for INR 21.40 billion from Prudential Corp. Holdings Ltd., the bank informed exchanges Monday. The bank executed a share purchase agreement for the same with Prudential Corp. Holdings Monday, the filing said. The indicative period of completion of the stake purchase is on or before Wednesday, the filing said.
"This purchase is primarily towards maintaining the bank's majority shareholding in the event of grant of stock-based compensation by ICICI AMC," the filing said. ICICI Bank currently holds a 51% stake in ICICI AMC, while Prudential Corp. Holdings holds 49%, the filing said. The Reserve Bank of India in September approved the stake purchase, the filing said.
ICICI Prudential AMC's public issue will open for subscription Friday. The initial public offer will comprise an offer for sale of up to 48.97 million equity shares of face value INR 1 each, to be sold entirely by Prudential Corp. Holdings. The offer for sale structure means ICICI AMC will not receive any fresh capital from the issue, while the selling shareholder will dilute part of its stake.
In 2024-25 (Apr-Mar), the turnover of ICICI Prudential AMC was INR 49.80 billion. For the September quarter, ICICI Bank reported a net profit of INR 123.59 billion on a total income of INR 493.33 billion. On Monday, shares of the lender ended 0.21% lower on the National Stock Exchange at INR 1,389.60. End
Reported by Cassandra Carvalho
Edited by Tanima Banerjee
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