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The latest announcement is out from ICICI Prudential Asset Management Company Ltd. ( (IN:ICICIAMC) ).
ICICI Prudential Asset Management Company has announced that ICICI Venture Funds Management Company has received approval from the Securities and Exchange Board of India for a change in control of the investment manager and sponsor of certain identified Category II AIF schemes. This approval, which is valid for six months and contingent on payment of applicable regulatory fees, clears a key regulatory hurdle for the previously disclosed business transfer agreement under which ICICI Prudential AMC will acquire investment management rights and related advisory business from ICICI Venture, potentially expanding its footprint in the alternative investment space.
The company indicated it will now work with ICICI Venture to take suitable actions to close the transaction in line with the conditions set by the regulator. Completion of this deal is expected to integrate the identified AIF schemes and associated investment manager units into ICICI Prudential AMC’s platform, reinforcing its position in India’s growing alternative assets market and offering enhanced product breadth to investors.
More about ICICI Prudential Asset Management Company Ltd.
ICICI Prudential Asset Management Company Ltd. is a leading Indian asset manager operating ICICI Prudential Mutual Fund, offering a range of investment products across mutual funds and alternative investment funds. The firm focuses on serving retail and institutional investors in India’s capital markets with diversified asset management and advisory services.
Average Trading Volume: 153,712
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