ICICI Bank to acquire 2% stake in ICICI AMC from Prudential Corporation for ₹2,140 crore

Private sector lender ICICI Bank Ltd on Monday (December 8) said it has executed a share purchase agreement with Prudential Corporation Holdings Ltd (PCHL) for the purchase of an additional 2% shareholding in ICICI Prudential Asset Management Company Ltd (ICICI AMC).

The purchase price has been fixed at ₹2,140 crore for the 2% stake. The transaction follows earlier disclosures made on February 12, June 27, July 9 and September 12, 2025, and shareholder approval granted at the 31st annual general meeting

held on August 30, for entering into a material related party transaction.

ICICI AMC had total assets of ₹4,827 crore as of September 30, 2025. The company reported turnover of ₹2,949 crore and profit after tax of ₹1,618 crore for H1FY26. The transaction constitutes a related party transaction and is being carried out at arm’s length. ICICI Bank stated that it does not have any promoters.

Also Read: ICICI Bank subsidiary ICICI Prudential AMC sets IPO price band at ₹2,061–₹2,165

ICICI AMC operates in the industry of management of mutual funds and other investment funds. The stated objective of the acquisition is to maintain the bank’s majority shareholding in the event of the grant of stock-based compensation by ICICI AMC.

The Reserve Bank of India, through its letter dated September 12, 2025, accorded approval for the bank to purchase up to 2% additional shareholding, subject to compliance with applicable regulations. The acquisition is to be completed on or before December 10, 2025. The amount will be paid in cash, based on the fair value determined by an independent valuer.

ICICI AMC was incorporated on June 22, 1993. It manages assets in the mutual fund segment, provides portfolio management services, investment management services to alternative investment funds and advisory services in international markets. ICICI Bank currently holds 51.0% and PCHL holds 49.0% in ICICI AMC.

Shares of ICICI Bank Ltd ended at ₹1,389.40, down by ₹2.60, or 0.19%, on the BSE today, December 8.

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