ICICI Bank to boost stake in ICICI AMC for ₹21.40 bn

ICICI Bank announced on December 8, 2025, that it has executed a share purchase agreement with Prudential Corporation Holdings Limited (PCHL) to acquire an additional 2% shareholding in ICICI AMC. This transaction, approved by shareholders on August 30, 2025, aims to maintain the bank's majority shareholding, particularly in light of potential stock-based compensation by ICICI AMC. The Reserve Bank of India granted approval for this acquisition on September 12, 2025.

The acquisition involves a cash consideration of ₹21.40 billion, based on a fair value determined by an independent valuer. ICICI AMC, incorporated on June 22, 1993, is an asset management company involved in mutual funds and other investment funds, with a presence in India and international advisory services. As of September 30, 2025, ICICI AMC reported total assets of ₹48.27 billion.

ICICI AMC's turnover for H1-2026 was ₹29.49 billion, with a PAT of ₹16.18 billion. Its consolidated revenue from operations and other income for the last three fiscal years stood at FY2025: ₹49.80 billion, FY2024: ₹37.61 billion, and FY2023: ₹28.38 billion. The transaction is expected to be completed on or before December 10, 2025.