ICICI Prudential AMC shares: Prudential to sell 2% stake; what consensus target hints at

ICICI Prudential Asset Management Co Ltd (ICICI Prudential AMC) shares are in focus on Thursday as a promoter group entity, Prudential Corporation Holdings Ltd, was all set to sell 2 per cent stake in the asset manager in the open market to comply with minimum public shareholding norms. Prudential would offload up to 2 per cent of the total issued and paid-up equity share capital of ICICI Prudential AMC, aggregating to 9,885,169 equity shares in single or multiple tranches.

The stake would be offered in offer price of Rs 2,998-3,158 apiece range, which would be 2-7 per cent discount and is expected to raise Rs 2,963.60-3,121.70 crore or $311-327 million, as per the term sheet seen by Business Today. ICICI Securities and BofA Securities are arranging the deal. At present, Prudential held 34.59 per cent stake in ICICI Pridential AMC.

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.

What ICICI Pru AMC says

"Prudential Corporation Holdings Limited, one of the promoters of the company, has conveyed to us its intention to sell certain equity shares held by it for compliance with the requirements of minimum public shareholding applicable to the company," ICICI Prudential AMC informed BSE and NSE.

The aggregate shareholding of promoters and members of the promoter group in the ICICI Prudential AMC as on August 21 stood at 87.60 per cent of the total issued and paid-up equity share capital of the company.

Upon completion of the abovementioned sale, 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.

"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.