New Delhi, May 9 -- ICICI Prudential Asset Management Co Ltd is set to take over the private equity, venture capital, and real estate fund management businesses from its group company, ICICI Venture, according to a stock exchange filing.
The subsidiaries of ICICI Bank Ltd have informed the parent entity that their respective boards have granted an in-principle approval for the transfer of these businesses.
The filing noted that ICICI Venture (I-Ven) will continue to undertake certain advisory activities and manage select residual funds. The cost of acquisition is not expected to be material in terms of ICICI Prudential AMC's financial position. Upon completion, ICICI Prudential AMC will offer a fully integrated range of investment asset classes, including private equity.
The transaction is subject to regulatory approvals and the execution of definitive agreements.
As of March 31, 2025, ICICI Bank held 51% of the equity share capital of ICICI Prudential AMC, and 100% of the equity share capital of I-Ven.
Published by HT Digital Content Services with permission from VC Circle.