Shares of ICICI Prudential Asset Management Company Ltd were trading sharply lower on Thursday, down ₹123.10 or 3.82 per cent at ₹3,099.70 as of 2.49 PM, after promoter Prudential Corporation Holdings Ltd launched a bulk sale of up to 9,885,169 equity shares, representing approximately 2 per cent of the company’s total share capital.
The block, handled by ICICI Securities and other placement agents, is priced in the range of ₹2,998–₹3,158 per share, a discount of approximately 2–7 per cent to Wednesday’s closing price of ₹3,222.80 on the NSE. At the top of the range, the deal is valued at approximately ₹31,217 million (roughly $327 million at ₹95.42 per dollar). The transaction is entirely secondary, with no fresh capital being raised by the company. Books were set to close around 7.30 AM today, with settlement expected on August 28.
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Company’s intent
The sale is being executed to comply with SEBI’s minimum public shareholding norms. As of August 21, 2026, the promoter group held 87.60 per cent of ICICI Prudential AMC’s paid-up equity capital. Following the divestment, this stake will reduce to 85.60 per cent.
The company disclosed the intent, with ICICI Bank Ltd, the other major promoter, providing an undertaking that it would not purchase shares in the open market on the day of the sale. Prudential Corporation Holdings Ltd, a subsidiary of Prudential plc, gave a similar undertaking and confirmed no connected persons would participate in the transaction.
Trading volumes were elevated, with 43.48 lakh shares changing hands by mid-afternoon, generating a traded value of ₹1,342.66 crore. The stock touched an intraday low of ₹3,060.70, still above the lower circuit band of ₹2,900.60. The seller is subject to a 60-day lock-up post-transaction, with a carve-out for any further MPS-related disposal of up to 0.6 per cent of the company’s capital.