ICICI Bank to Purchase Additional 2% Shareholding in ICICI Prudential Asset Management Company Limited for $21.40 Billion

ICICI Bank Limited has executed a share purchase agreement with Prudential Corporation Holdings Limited to acquire an additional 2% shareholding in ICICI Prudential Asset Management Company Limited. The transaction is valued at $21.40 billion and is being done at arms’ length. ICICI AMC, a target entity, is an asset management company managing significant assets under management in the mutual fund segment and providing investment management services to alternative investment funds. The Bank currently holds 51.0% and PCHL holds 49.0% in the ICICI AMC. The acquisition is primarily towards maintaining the Bank’s majority shareholding in the event of grant of stock-based compensation by ICICI AMC. The acquisition is subject to approval from the Reserve Bank of India and is expected to be completed on or before December 10, 2025.