ICICI Prudential Asset Management Company Limited has informed the Exchange regarding a Letter received from SEBI by ICICI Venture Funds Management Company Limited'.
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ICICI Prudential AMC has received SEBI approval for the change in control of the investment manager and sponsor of certain Category II Alternative Investment Fund (AIF) schemes. This is part of a business transfer agreement signed on September 22, 2025, with ICICI Venture Funds Management Company Limited (I-Ven), under which I-Ven's investment management rights for these AIF schemes and related business aspects will transfer to ICICI Prudential AMC. The closing of this transaction was previously pending regulatory approvals. The SEBI approval is valid for six months and is subject to applicable fees under SEBI AIF Regulations, 2012. The company will now take suitable next steps in discussion with I-Ven to complete the transfer.
This is a positive development for ICICI Prudential AMC as it clears a key regulatory hurdle for expanding its AIF business through the I-Ven acquisition, potentially adding new revenue streams. Shareholders should view this as incremental progress on the transaction, though final closing is still subject to other conditions.