ICICI Prudential AMC receives RBI approval for raising stake to 9.95% in four banks; key details to know

The other three lenders include CSB Bank, DCB Bank and AU Small Finance Bank, according to a regulatory filing dated September 9.

The Reserve Bank of India (RBI), through different letters dated September 8, 2026, permitted ICICI Prudential Asset Management Company Ltd (applicant) to acquire an aggregate holding of up to 9.95% of the paid-up share capital or voting rights in these banks, ICICI Bank, the parent entity of the fund house, said.

The approvals require the applicant to acquire a major shareholding within a period of one year from the date of the RBI letters, failing which the approvals would stand cancelled, it added.

Recent update

In a separate regulatory filing dated August 28, the company said that one of its promoters, Prudential Corporation Holdings Limited, sold 9,885,169 equity shares, representing 2% of the total issued and paid-up equity share capital of the firm on August 27, 2026, through open market sale.

Following the stake sale, the shareholding of the promoters and members of the promoter group in ICICI Prudential AMC reduced to 85.60% from 87.60% of the paid-up equity share capital of the company.

ICICI Prudential AMC stock performance

Shares of ICICI Prudential AMC closed 0.32% lower at ₹3,003.50 per unit on the National Stock Exchange (NSE) on Wednesday, September 9. However, the development was announced after the market closed.

While the stock has risen 1% in the past week, it has lost 2% over the month. On a year-to-date (YTD) basis, it has surged 14%.

The scrip hit a 52-week high of ₹3,611 per equity share on May 29, 2026, and touched a year’s low of ₹2,530 apiece on December 22, 2025.

ICICI Prudential AMC Q1 results

The asset management firm posted a 23.1% year-on-year (YoY) surge in its net profit to ₹964.63 crore in the first quarter of the 2026-27 financial year (Q1 FY27), compared with ₹783.64 crore in the same period last year.

On a sequential basis, its profit advanced by 25.5% quarter-on-quarter (QoQ) from ₹768.58 crore in the quarter-ago period.

The firm’s revenue from operations rose 17.55% YoY to ₹1,564.22 crore during the quarter under review, as against ₹1,330.67 crore in the June quarter of the 2025-26 fiscal year (Q1 FY26).

ICICI Prudential Asset Management Company has a total market capitalisation of ₹1.48 lakh crore as of September 9, 2026, according to data on the NSE.