ICICI Bank Eyes Larger Stake in ICICI Prudential Asset Management

ICICI Bank is reportedly considering purchasing an additional 3% stake in ICICI Prudential Asset Management from its joint venture partner, Prudential Plc. This move comes as Prudential evaluates a potential listing and partial divestment of its 49% stake in the asset management company. ICICI Bank currently holds a 51% majority stake and has expressed its intention to retain control. The potential listing, subject to market conditions and approvals, could see Prudential returning the net proceeds to its shareholders. ICICI Prudential Asset Management is India's second-largest mutual fund, with assets exceeding Rs 9 trillion.

 

Source: Business Standard, Reuters