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The latest update is out from ICICI Prudential Asset Management Company Ltd. ( (IN:ICICIAMC) ).
ICICI Prudential Asset Management Company has received a settlement order from the Securities and Exchange Board of India regarding its suo motu settlement application related to the ICICI Prudential Venture Capital Fund – Real Estate Scheme I. The order pertains to the past extensions of the scheme’s tenure, its eventual liquidation in December 2023, and the subsequent surrender and cancellation of the fund’s SEBI registration, effectively closing regulatory proceedings around the winding up of this legacy vehicle.
The real estate scheme, originally launched in 2013 with a four-year tenure and limited extension options, saw multiple extensions through to September 2023, with investors and SEBI kept informed about these changes and the liquidation timeline. By securing a settlement without admitting or denying SEBI’s findings, ICICI Prudential AMC brings finality to compliance issues surrounding this fund, reducing overhang from a closed product as it operates as a listed asset manager and continues to focus on its broader investment offerings.
More about ICICI Prudential Asset Management Company Ltd.
ICICI Prudential Asset Management Company Ltd. is a leading Indian asset management firm offering mutual funds and alternative investment products to retail and institutional investors. The company manages a range of schemes across asset classes, including venture capital and real estate-focused funds, and is listed on Indian stock exchanges, reflecting its position in the country’s organized asset management industry.
Average Trading Volume: 66,363
Learn more about ICICIAMC stock on TipRanks’ Stock Analysis page.