ICICI Prudential Asset Management Company said its board has approved the acquisition of the portfolio management services (PMS) business

$ICICIPRULI ICICI Prudential Asset Management Company on Monday said its board has approved the acquisition of the portfolio management services (PMS) business of ICICI Securities through a slump sale. The transaction, which is subject to regulatory approvals, is aimed at expanding ICICI Prudential AMC’s existing PMS offerings, the company said in an exchange filing. The PMS business had assets under management (AUM) of ₹2,910 crore as of March 31, 2026. The actual AUM to be transferred will be determined on the date of the transaction after all necessary approvals are received. The acquisition is expected to be completed within a year, subject to regulatory clearances. The consideration will be paid in cash and will be determined by an independent valuer at 1.20% of the actual AUM transferred. The PMS business primarily caters to high-net-worth individuals (HNIs) and provides customised investment solutions across discretionary, non-discretionary and advisory mandates. Its revenue stood at ₹20.88 crore, compared with ₹25.30 crore in the previous period.