The transaction involved 1 crore shares, or 2% of ICICI Prudential AMC’s total equity, changing hands, according to exchange data. The shares were offered in a price range of ₹2,998-₹3,158 apiece, representing a discount of around 7%-2% to the stock’s previous close.
CNBC-TV18 had earlier reported that Prudential Corporation Holdings was looking to sell up to 98.85 lakh shares, or 2% of ICICI Prudential AMC’s total equity, through the open market on Thursday.
The stake sale is aimed at increasing public shareholding in ICICI Prudential AMC and moving the company towards meeting minimum public shareholding requirements.
Prudential to cut stake in ICICI Prudential AMC
Prudential Corporation Holdings held 17.10 crore shares, or a 34.59% stake, in ICICI Prudential AMC as of June 2026, according to the company’s latest shareholding pattern.
ICICI Bank, the other promoter, held a 53% stake. Together, the promoter and promoter group held 87.60% of the company, while public shareholders owned the remaining 12.40%.
Following the sale of the 2% stake, the combined promoter and promoter group holding will fall to 85.60%, while public shareholding will rise to 14.40%.
Prudential Corporation Holdings will continue to remain a promoter of ICICI Prudential AMC after the transaction.
ICICI Bank, Prudential entities stay out of purchase
ICICI Bank had undertaken not to purchase any shares of ICICI Prudential AMC in the open market on August 27.
Prudential Corporation Holdings and other entities belonging to its promoter group had also undertaken not to purchase shares on the day. Connected persons of Prudential plc, the ultimate holding company of Prudential Corporation Holdings, would similarly not participate in the purchase.
The restrictions were aimed at ensuring that the shares sold by Prudential move outside the promoter group, thereby increasing the company’s public shareholding.
ICICI Prudential AMC’s public shareholding
ICICI Prudential AMC’s public shareholder base includes domestic mutual funds, insurance companies and foreign portfolio investors, among others.
As per the latest shareholding data, mutual funds held 4.80% of the company, while insurance companies held 1.13%. Foreign portfolio investors held 2.96%.
Retail investors held around 1.46% of the company’s equity.
Shares of ICICI Prudential AMC ended 2.41% lower at ₹3,212.60 on Wednesday. The stock has advanced over 22% so far in 2026.
Also read: Vedanta shares in focus: Group dismisses speculation over stake sale in Vedanta, Vedanta Aluminium
