ICICI Prudential AMC shares tank 5% after Prudential's 2% stake sale; here's why
ICICI Prudential AMC shares: The stock fell 4.93 per cent to hit a low of Rs 3,064.55 apiece. As per the term sheet, the floor price was set in the Rs 2,998-3,158 apiece range.
- Aug 27, 2026,
- Updated Aug 27, 2026 10:11 AM IST
Shares of ICICI Prudential Asset Management Co Ltd (ICICI Prudential AMC) fell 5 per cent in Thursday's trade amid a high turnover of Rs 3,100 crore on BSE, as Prudential PLC sold a 2 per cent stake, or 99.2 lakh shares, in the asset manager, at a likely 2–7 per cent discount to Wednesday's closing price. The stake sale was announced in advance and was aimed at meeting minimum public shareholding norms. The buyers in the deals could not be ascertained.
Following the development, the stock fell 4.93 per cent to hit a low of Rs 3,064.55 apiece. As per the term sheet, as seen by Business Today, the floor price was set in the Rs 2,998-3,158 apiece range. Prudential was expected to raise Rs 2,963.60-3,121.70 crore or $311-327 million. The stake sale was done in a bid to meet minimum shareholding norms, as the aggregate shareholding of promoters and members of the promoter group in the ICICI Prudential AMC at 87.60 per cent of the total issued and paid-up equity share capital of the company.
At present, Prudential held 34.59 per cent stake in ICICI Pridential AMC. BofA Securities were arranging the deal.
Earlier ICICI Prudential AMC said the aggregate shareholding of the promoters and promoter group in the ICICI Prudential AMC would be reduced from 87.60 per cent to 85.60 per cent of the total issued and paid-up equity share capital of the company, upon completion of the sale.
"The company will ensure compliance with applicable laws including that of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 and Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, each as amended, in connection with the proposed sale," ICICI Prudential AMC said.
ICICI Prudential AMC target prices
After falling 23 per cent in 2026 so far, ICICI Prudential AMC is a consensus 'Buy' with 16 'Buy' calls one 'Hold and one 'Sell' recommendation. Its 12-month Bloomberg consensus target at Rs 3,680 impled 14per cent potential upside over Wednesday's closing price of Rs 3,222.80. Morgan Stanley gave 'Equalweight' to the stock on August 21 with a target of Rs 3,320. HSBC on AUgust 19 gave a 'Buy' with a target of Rs 3,800. Bernstein has assigned 'Outperform' rating on ICICI Prudential AMC with a target of Rs 3,510.
Shares of ICICI Prudential Asset Management Co Ltd (ICICI Prudential AMC) fell 5 per cent in Thursday's trade amid a high turnover of Rs 3,100 crore on BSE, as Prudential PLC sold a 2 per cent stake, or 99.2 lakh shares, in the asset manager, at a likely 2–7 per cent discount to Wednesday's closing price. The stake sale was announced in advance and was aimed at meeting minimum public shareholding norms. The buyers in the deals could not be ascertained.
Following the development, the stock fell 4.93 per cent to hit a low of Rs 3,064.55 apiece. As per the term sheet, as seen by Business Today, the floor price was set in the Rs 2,998-3,158 apiece range. Prudential was expected to raise Rs 2,963.60-3,121.70 crore or $311-327 million. The stake sale was done in a bid to meet minimum shareholding norms, as the aggregate shareholding of promoters and members of the promoter group in the ICICI Prudential AMC at 87.60 per cent of the total issued and paid-up equity share capital of the company.
At present, Prudential held 34.59 per cent stake in ICICI Pridential AMC. BofA Securities were arranging the deal.
Earlier ICICI Prudential AMC said the aggregate shareholding of the promoters and promoter group in the ICICI Prudential AMC would be reduced from 87.60 per cent to 85.60 per cent of the total issued and paid-up equity share capital of the company, upon completion of the sale.
"The company will ensure compliance with applicable laws including that of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 and Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, each as amended, in connection with the proposed sale," ICICI Prudential AMC said.
ICICI Prudential AMC target prices
After falling 23 per cent in 2026 so far, ICICI Prudential AMC is a consensus 'Buy' with 16 'Buy' calls one 'Hold and one 'Sell' recommendation. Its 12-month Bloomberg consensus target at Rs 3,680 impled 14per cent potential upside over Wednesday's closing price of Rs 3,222.80. Morgan Stanley gave 'Equalweight' to the stock on August 21 with a target of Rs 3,320. HSBC on AUgust 19 gave a 'Buy' with a target of Rs 3,800. Bernstein has assigned 'Outperform' rating on ICICI Prudential AMC with a target of Rs 3,510.