ICICI Bank has informed stock exchanges that ICICI Prudential Asset Management Company Ltd. (IPru AMC) and ICICI Venture Funds Management Company Ltd. (I-Ven) have received in-principle board approval to transfer I-Ven’s private equity, venture capital, and real estate fund management businesses to IPru AMC.

The decision was taken at board meetings held by both entities on May 8, 2025. According to the disclosure, I-Ven will continue to manage certain residual funds and provide select advisory services post-transfer. The acquisition cost is not expected to materially impact IPru AMC’s financial position.

ICICI Bank, which holds a 51% stake in IPru AMC and full ownership of I-Ven as of March 31, 2025, stated that the proposed transaction will enhance IPru AMC’s ability to offer a comprehensive suite of investment asset classes, including private equity, under a single platform.

The transaction is contingent on necessary regulatory and other approvals, execution of definitive agreements, and completion of procedural formalities. Further updates will be disclosed as the process advances.

The communication was also shared with global exchanges including the NYSE, Singapore Stock Exchange, SIX Swiss Exchange, and the Japan Securities Dealers Association.