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 had AUM of ₹29.10 billion (2910 crore) as of March 31, 2026. The acquisition aims to broaden ICICI Prudential AMC's offerings and is expected to complete within a year, subject to approvals.
The acquisition of a PMS business will expand the company's service portfolio and AUM, likely having a moderate impact on its overall business and market position.
The acquisition of a complementary business is expected to broaden the company's service offerings and potentially increase its market share, which is a positive development.
ICICI Prudential Asset Management Company Limited announced on August 10, 2026, that its Board of Directors has approved the acquisition of the portfolio management services (PMS) business from ICICI Securities Limited. The acquisition will be conducted as a slump sale, with the associated assets and liabilities being transferred.
The meeting, which commenced at 5:24 p.m. and concluded at 6:00 p.m., also saw the approval for the execution of a business transfer agreement (BTA) between the two entities.
This strategic acquisition is subject to necessary approvals under applicable laws and is expected to broaden ICICI Prudential AMC's existing PMS offerings. The PMS business of ICICI Securities, which caters primarily to High-Net-Worth Individuals (HNIs), had Assets Under Management (AUM) of ₹29.10 billion (2910 crore) as of March 31, 2026. The actual AUM to be transferred will be determined on the transfer date post-approval.
The transaction is considered a related party transaction, as ICICI Securities is a wholly owned subsidiary of ICICI Bank Limited, the promoter of ICICI Prudential AMC. The deal will be conducted at arm's length, with the cash consideration determined by an independent valuer at 1.20% of the actual AUM to be transferred.
The PMS business of ICICI Securities reported revenues of ₹14.94 crore in FY2024, ₹25.30 crore in FY2025, and ₹20.88 crore in FY2026. The acquisition is anticipated to be completed within a year, contingent upon receiving all required approvals.
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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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