ICICI Prudential AMC is in focus after promoter Prudential Corporation Holdings announced plans to sell up to 2% of the company’s equity through open-market transactions beginning August 27. The proposed sale involves around 98.85 lakh shares.
Based on the August 26 closing price of Rs. 3,222.80, the transaction could be worth approximately Rs. 2,964–3,122 cr. The promoter’s holding is expected to decline from 87.60% to around 85.60% following the sale.
The transaction is primarily aimed at meeting minimum public-shareholding requirements. ICICI Prudential AMC has nevertheless performed strongly since its listing, with the stock still around 49% above its IPO price of Rs. 2,165.
