ICICI Prudential AMC to buy ISecs' PMS biz

AI Summary

ICICI Prudential Asset Management has approved the acquisition of the portfolio management services business of ICICI Securities via a slump sale. The deal, subject to regulatory approvals, aims to broaden ICICI Prudential AMC's PMS offerings and will complete within a year, with a cash consideration of 1.2% of the transferred AUM.

Mumbai: ICICI Prudential Asset Management Co said its board has approved the acquisition of the portfolio management services (PMS) business of ICICI Securities through a slump sale.The PMS business caters primarily to high net worth individuals (HNIs) by providing professionally managed and customised investment solutions.Also read: Banks' Rs 20,000 crore credit guarantee plan misses the markThe PMS platform offers a diversified range of investment strategies across discretionary, non - discretionary and advisory mandates encompassing direct equity, smart beta and multi - asset approaches.Its revenue stood at ₹20.88 crore in 2026, compared with ₹25.3 crore in FY 2025. The transaction, which is subject to regulatory approvals, will broaden ICICI Prudential AMC's existing PMS offerings.The PMS business had assets under management of ₹2,910 crore as of March 31, 2026. The actual AUM to be transferred will be determined on the transfer date after receiving the necessary approvals. The transaction is expected to be completed within a year, subject to approvals and a consideration of 1.2% will be paid in cash of the actual AUM transferred.