ICICI Bank Limited has informed the Exchange about Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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ICICI Bank's subsidiary, ICICI Prudential Asset Management Company (IPAMC), has filed a Draft Red Herring Prospectus (DRHP) on July 8, 2025 for an initial public offering comprising an Offer for Sale (OFS) of up to 10% equity shares held by Prudential Corporation Holdings Limited (PCHL). Separately, ICICI Bank has entered into an inter-se agreement with PCHL to purchase up to 2% of fully-diluted pre-IPO share capital of IPAMC, primarily to maintain its 51% majority shareholding in case of any stock-based compensation grants by IPAMC. IPAMC reported total assets of ₹43.84 billion as of March 31, 2025, with FY2025 turnover of ₹49.80 billion and profit after tax of ₹26.51 billion, up from ₹28.38 billion in FY2023. The transaction is a related party deal at arm's length and requires RBI approval.
The IPO of the asset management subsidiary could unlock significant value for ICICI Bank shareholders. The bank's pre-IPO stake purchase reinforces its majority control and signals strong confidence in the subsidiary's growth trajectory, which is a positive indicator for the IPO's quality.