ICICI Bank to acquire 2% stake in ICICI Prudential AMC
pre-market1 source ↓written by the desknot a recommendation
- in ICICI Prudential
- 2% stake
- Prudential AMC
- ₹2,140 crore
- public issue
- ₹10,600 crore
- of the firm
- 51%
- owning the remaining
- 49%
ICICI Bank has signed a share purchase agreement to acquire a 2% stake in ICICI Prudential AMC for ₹2,140 crore. This move follows the asset management company's pre-IPO filing for a ₹10,600 crore public issue. Currently, ICICI Bank holds 51% of the firm, with Prudential Corporation owning the remaining 49%.
This acquisition strengthens ICICI Bank's majority stake ahead of the IPO scheduled for 12 Dec 2023.
Not investment advice. For informational purposes only.