Now Reading: ICICI Prudential AMC buys ICICI Securities PMS business
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ICICI Prudential AMC buys ICICI Securities PMS business
ICICI Prudential Asset Management Co's board has approved the acquisition of the portfolio management services (PMS) business of ICICI Securities through a slump sale. The PMS business, which serves high net worth…
The Story in Brief
ICICI Prudential Asset Management Co's board has approved the acquisition of the portfolio management services (PMS) business of ICICI Securities through a slump sale. The PMS business, which serves high net worth individuals, reported assets under management of Rs 2,910 crore as of March 31, 2026. Its revenue fell to Rs 20.88 crore in FY26 from Rs 25.3 crore in the previous year.
The transaction is subject to regulatory approvals and is expected to close within a year. ICICI Prudential AMC will pay 1.2% in cash of the actual AUM transferred on the transfer date. The PMS platform offers discretionary, non-discretionary and advisory mandates covering direct equity, smart beta and multi-asset strategies.
The Indian Opinion
This internal group transfer shows how financial houses are consolidating high-touch services under asset managers rather than brokerages. The deal values the portfolio at 1.2% of AUM, which seems low for a growing HNI-focused business. But the Rs 20.88 crore revenue in FY26 is a drop from last year, so ICICI Prudential is betting on synergies. The real test will be whether the merged PMS can retain clients and stop the revenue slide over the next year.
Source: economictimes.indiatimes.com
This story was synthesised by AI from the source linked above.
