The Reserve Bank of India (RBI) has granted its approval to Icici Bank for the purchase of extra shareholding up to 2 percent in its subsidiary, Icici Prudental Asset Management Company.
This is to maintain the majority of the share, subject to compliance with the applicable regulations, Icici Bank said in a legal submission on Friday.
In a July 8one Regulatory submission, the reimbursement for the purchase of share shares of Prudential Corporation Holdings LTD (PCHL) will be cash, whereby the prices are decided at a subsequent time.
Icici Bank was concluded an inter-SE agreement on 8 July with PCHL, which stated that his intention to buy up to 2 percent of the fully diluted pre-ipo share capital from PCHL from PCHL, prior to the completion of the IPO.
ICICI PRUDENTIAL AMC had submitted a concept of Red Herring Prospectus (DRHP) on 8 July 2025 with Securities and Exchange Board of India, BSE and NSE for an initial public offer (IPO) consisting of an offer for sale (OFS) of shares that are kept in the company in the company in the company, that up to 10
The bank has 51.0 percent of the share capital of ICICI Prudential AMC. After the proposed transaction there will be no change in the classification of the company (that it remains a subsidiary of the bank).
Published on September 12, 2025
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