Shardul Amarchand Mangaldas & Co advises BofA Securities India and ICICI Securities on 2% stake sale by Prudential Corporation Holdings Limited in ICICI Prudential Asset Management Company

September 3, 2026

Shardul Amarchand Mangaldas & Co (SAM) advised BofA Securities India Limited and ICICI Securities Limited, acting as brokers, in connection with the sale of 9,885,169 equity shares, representing 2.00% of the total issued and paid-up equity share capital of ICICI Prudential Asset Management Company Limited, by promoter Prudential Corporation Holdings Limited through an open market sale on Indian stock exchanges.

Valued at approximately ₹3,030 crore (US$320 million), the sale was undertaken to facilitate compliance with the minimum public shareholding requirements prescribed under the Securities Contracts (Regulation) Rules, 1957 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transaction was completed on August 27, 2026.

The SAM team comprised Nikhil Naredi (Partner), Trishita Dasgupta (Partner), Chinmay Sethia (Principal Associate), and Apoorva Tyagi (Associate).