ICICI Prudential AMC to Acquire PMS Business from ICICI Securities
ICICI Prudential AMC will acquire the PMS business of ICICI Securities via slump sale. The PMS business has an AUM of ₹2,910 crore as of March 31, 2026. The acquisition aims to broaden service offerings. Consideration is cash, based on 1.20% of AUM. The deal is expected within a year.
The acquisition of a PMS business is a significant strategic move that could enhance market share and revenue streams, but the impact is medium as it is subject to regulatory approvals and the final AUM transfer value is yet to be determined.
The acquisition is positive as it aims to broaden the company's service offerings and expand its market presence in the PMS segment.
ICICI Prudential Asset Management Company Limited announced that its Board of Directors, in a meeting held on August 10, 2026, approved the acquisition of the portfolio management services (PMS) business from ICICI Securities Limited. The acquisition will be conducted via a slump sale as a going concern, including all associated assets and liabilities.
The transaction is subject to necessary approvals under applicable laws. This strategic move is expected to broaden ICICI Prudential AMC's existing portfolio management services offerings. ICICI Securities Limited, currently engaged in broking, financial product distribution, PMS, and merchant banking, has an Assets Under Management (AUM) of ₹29.10 billion (₹2,910 crore) in its PMS business as of March 31, 2026. The actual AUM to be transferred will be determined on the transfer date.
This transaction is classified as a related party transaction and will be conducted at arms' length, as ICICI Securities is a wholly-owned subsidiary of ICICI Bank Limited, the promoter of ICICI Prudential AMC. The consideration for the acquisition will be cash, determined by an independent valuer based on fair value, set at 1.20% of the actual AUM to be transferred. The acquisition is anticipated to be completed within a year, contingent upon receiving the required approvals. The PMS business of ICICI Securities primarily serves High-net-worth individuals (HNIs) and has reported revenues of ₹14.94 crore in FY 2024, ₹25.30 crore in FY 2025, and ₹20.88 crore in FY 2026.
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ICICI Prudential Asset Management Company Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by ICICI Prudential Asset Management Company Limited. Read the original for the full detail.