ICICI Bank to Increase Stake by up to 2% in ICICI Prudential AMC

ICICI Bank Limited announced a set of key decisions from its Board meeting held on June 27, 2025. The resolutions include an increase in stake in its mutual fund subsidiary, scheduling of its 31st Annual General Meeting (AGM), appointment of a new Secretarial Auditor, and amendments to its ADR voting rights structure.

Additional 2% Stake Hike in ICICI Prudential AMC

The Board has approved the acquisition of up to an additional 2% stake in ICICI Prudential Asset Management Company to maintain majority control, especially in light of potential stock-based compensation to employees of the AMC. The move underscores the Bank’s strategic interest in retaining dominant ownership amidst a potential listing of the AMC, as previously disclosed in February 2025.

AGM Scheduled for August 30, 2025

ICICI Bank’s 31st Annual General Meeting will be held virtually on August 30, 2025. Shareholders whose emails are registered will receive digital copies of the Notice and Annual Report 2024–25. August 12, 2025, has been declared the record date for determining eligibility for the dividend, if approved during the AGM.

Appointment of Secretarial Auditor

The Board has also approved the appointment of M/s. Parikh Parekh & Associates as the Secretarial Auditor for FY2026–FY2030. The Mumbai-based firm is recognised for its work in corporate and securities law compliance and is peer-reviewed by ICSI, ensuring adherence to top-tier professional standards.

ADR Voting Rights Reform

In a notable policy shift, the Board has greenlit a proposal to amend the ICICI Bank ADR Deposit Agreement, allowing registered American Depository Share (ADS) holders to vote on matters pertaining to the Deposited Securities. This right will be granted contingent on compliance with Section 12B of the Banking Regulation Act, 1949, and relevant RBI directives. The move aims to improve governance and enhance shareholder rights for international investors, subject to RBI approval.

ICICI Bank Share Price Performance

On June 27, 2025, ICICI Bank share price opened at ₹1,438.90 on NSE, below the previous close of ₹1,439.10. During the day, it surged to ₹1,454.70 and dipped to ₹1,437.10. The stock is trading at ₹1,452.00 as of 1:48 PM. The stock registered a moderate gain of 0.90%.

Over the past week, it has moved up by 2.25%, over the past month, it has moved up by 0.43%, and over the past 3 months, it has moved up by 8.63%.

Conclusion

ICICI Bank’s latest Board decisions reflect a commitment to strengthening core businesses, modernising corporate governance practices, and fostering inclusive shareholder engagement, both domestic and international. These developments are expected to bolster the Bank’s long-term strategic position across financial and capital markets.

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