ICICI Prudential AMC slips as promoter moves to trim 2% stake

ICICI Prudential Asset Management Company fell 3.45% to Rs 3,112.45 after a large block deal in early trade on Thursday.

Trading volumes were elevated during the session. On the BSE, 1.05 crore shares changed hands, compared with the three-month average of 49,658 shares. On the NSE, 32.11 lakh shares were traded, against the three-month average of 4.74 lakh shares.

The block deal came after promoter Prudential Corporation Holdings (PCHL) launched a stake sale of up to 2% in the company.

PCHL offered up to 98.85 lakh shares, representing 2% of ICICI Prudential AMC's equity, through open-market transactions on 27 August 2026. The proposed sale is aimed at helping the company meet India's minimum public shareholding requirement.

The indicative offer price for the block transaction was in the range of Rs 2,998 to Rs 3,158 per share, according to media reports. At the upper end of the price range, the transaction would be worth around Rs 3,122 crore.

As of June 2026, PCHL held a 34.59% stake in ICICI Prudential AMC, while promoters and the promoter group together held 87.60%. Following the sale of the full 2% stake, promoter holding is expected to decline to 85.60%.

PCHL will retain a 32.6% stake in ICICI Prudential AMC after the sale, with its governance rights remaining unchanged.

The stake sale follows ICICI Prudential AMC's listing in December 2025. Under India's listing rules, companies that list with less than 15% public shareholding have five years to raise their public float to at least 15%.

ICICI Prudential Asset Management Company is one of India's leading asset managers, offering mutual funds, portfolio management services, alternative investment funds and offshore advisory services. With over 30 years of experience, the company serves 17.3 million customers through 286 offices and has a workforce of 3,813 employees.

The company's net profit rose 23.10% YoY and 25.45% QoQ to Rs 964.63 crore in Q1 FY27. Total income increased 18.10% YoY and 20.18% QoQ to Rs 1,745.02 crore in the June 2026 quarter.

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