ICICI Bank To Retain Major Stake In ICICI Prudential MF

New Delhi: ICICI Bank on Wednesday said the bank intends to retain majority holding in ICICI Prudential Asset Management Company even though its joint venture partner plans listing and partial divestment of its stake in the fund house.

ICICI Bank holds 51 per cent stake in ICICI Prudential Asset Management Company while remaining 49 per cent is with its joint venture partner UK-based Prudential PLC.

“We take note of the announcement made today by our joint venture partner Prudential PLC with respect to a potential listing of and partial divestment of its stake in ICICI Prudential Asset Management Company, subject to market conditions, requisite approvals and other considerations,” ICICI Bank said in a regulatory filing.