ICICI Prudential AMC Shares Fall 5% After Promoter Prudential Corporation Sells 2% Stake In Block Deal
Shares of ICICI Prudential Asset Management Company (ICICI Pru AMC) declined nearly 5% in early trade on August 27 after a large block transaction involving around 99.2 lakh shares, equivalent to nearly 2% of the company’s equity, was executed. Promoter Prudential Corporation Holdings was the seller. The stock was trading at around ₹3,098, down 3.8% from its previous close of ₹3,222.80. It…
On August 27, ICICI Prudential Asset Management Company (ICICI Pru AMC) shares dropped by nearly 5% during early trading due to a significant block transaction involving approximately 99.2 lakh shares, which constituted around 2% of the company's equity. The seller of this block deal was the promoter, Prudential Corporation Holdings.
At the time of trading, the stock was priced at around ₹3,098, a decline of 3.8% from its prior close of ₹3,222.80. This transaction marked the biggest loser on the BSE 500 and Nifty 500 indices, and it also featured among the most actively traded stocks on both exchanges.
The block deal followed the company's announcement on August 26 that Prudential Corporation Holdings intended to sell up to 2% of its stake to meet minimum public shareholding requirements. This proposal entailed the sale of up to 98.85 lakh shares, with completion expected on August 27. Prior to the sale, the promoters and the promoter group collectively owned 87.60% of ICICI Pru AMC, leaving their holding at 85.60% after the transaction.
Reports had hinted at an offer price ranging from ₹2,998 to ₹3,158 per share, representing a discount of approximately 2-7% from the August 26 closing price. The transaction was valued between ₹2,964 and ₹3,122 crore.
Despite this selling pressure, ICICI Pru AMC reported strong earnings in its first quarter. Net profit grew by 25.5% year-on-year to ₹965 crore, up from ₹769 crore, while total income increased by 20.2% to ₹1,745 crore. Revenue from operations rose by 17.6% to ₹1,564 crore. However, the stock has declined about 6.8% over the past two sessions but continues to be up nearly 22% so far in 2026, significantly outperforming the Nifty 50, which has fallen by 7.4%.
With the stock's closing price at Wednesday's trading, ICICI Pru AMC had a market capitalization of approximately ₹1.59 lakh crore.
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