ICICI Prudential Asset Management Company (ICICI Prudential AMC) is set to acquire the Portfolio Management Services (PMS) business of ICICI Securities through a slump sale, adding over ₹3,000 crore in PMS assets to its platform.

ICICI Prudential AMC and ICICI Securities have received board approval for the proposed transaction, which will be subject to applicable regulatory approvals and other customary conditions.

As of June 30, 2026, ICICI Securities’ PMS business had assets under management (AUM) of ₹3,025.45 crore, making the proposed acquisition a significant addition to ICICI Prudential AMC’s PMS platform.

Under the terms of the proposed transaction, the purchase consideration will be determined by an independent valuer at 1.20% of the actual AUM transferred and will be paid in cash.

Based on the June 30, 2026 AUM of ₹3,025.45 crore, the indicative transaction value works out to approximately ₹36.31 crore.

However, the final consideration will depend on the actual AUM transferred on the effective date of the transaction.

The acquisition is expected to be completed within one year, subject to the fulfilment of applicable conditions and receipt of regulatory approvals.

ICICI Securities’ PMS business primarily serves high-net-worth individuals (HNIs) and offers customised investment solutions through discretionary, non-discretionary and advisory mandates.

The business generated ₹20.88 crore in revenue during FY26, compared with ₹25.30 crore in FY25.

For ICICI Prudential AMC, the acquisition provides access to an established PMS business, existing client relationships and a sizeable pool of assets, further strengthening its position in the wealth management segment.

The proposed transaction underscores the growing strategic importance of PMS within India’s wealth management ecosystem, as large financial institutions increasingly seek to expand their offerings for affluent and HNI investors.

With ₹3,025.45 crore of AUM as of June 30, 2026, the ICICI Securities PMS business represents a meaningful addition to ICICI Prudential AMC’s existing capabilities in customised investment solutions.

The transaction remains subject to regulatory approvals and other applicable conditions before completion.