ICICI Bank to acquire up to 2% additional stake in ICICI Prudential AMC

ICICI Bank’s board on Friday (June 27) approved the acquisition of up to 2% additional stake in ICICI Prudential Asset Management Company (AMC). The move is intended to help the bank maintain its majority shareholding in the subsidiary, particularly in the event of stock-based compensation granted by the company. The acquisition is subject to regulatory approvals.

The board also approved the date for the bank’s 31st Annual General Meeting (AGM), which will be held on August 30, 2025, through video conferencing. The notice and the FY25 annual report will be shared electronically with shareholders and uploaded on the bank’s website and stock exchanges. August 12, 2025, has been set as the record date to determine eligibility for dividend, if declared at the AGM.

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Further, the bank has proposed the appointment of M/s. Parikh Parekh & Associates as the secretarial auditor for five consecutive financial years from FY26 to FY30, subject to shareholder approval.

In addition, the board has approved an amendment to the bank’s ADR deposit agreement to allow registered American Depository Share (ADS) holders to exercise voting rights. This is subject to compliance with Section 12B of the Banking Regulation Act, 1949, and applicable RBI guidelines, and will require approval from the central bank.

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