In order to retain majority control, ICICI Bank Limited (NSE: ICICIBANK, BSE: 532174) approved acquiring up to 2% more shares in ICICI Prudential Asset Management Company Limited, one of many strategic decisions at its June 27, 2025 board meeting. The bank also scheduled its Thirty-first Annual General Meeting for August 30, 2025, with August 12 as the record date for dividend eligibility.
Strategic Asset Management Subsidiary Investment
The board approved purchasing up to 2% additional shareholding in ICICI Prudential Asset Management Company Limited, primarily aimed at maintaining the bank’s majority shareholding position in anticipation of stock-based compensation grants by the subsidiary. This decision follows the bank’s February 12, 2025 disclosure regarding the potential listing of the asset management company’s shares while retaining majority control.
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The acquisition remains subject to receipt of requisite regulatory approvals and aligns with ICICI Bank’s strategy to maintain controlling interest in its high-value financial services subsidiaries. The move demonstrates proactive capital allocation to preserve strategic ownership positions during corporate restructuring phases.
Virtual AGM and Dividend Record Date Confirmation
The thirty-first annual general meeting of ICICI Bank will take place by video conference and other audio-visual means on Saturday, August 30, 2025, at 11:00 AM IST. In the event that an equity dividend is announced at the AGM, the board has set August 12, 2025, as the record date for identifying shareholders who are eligible.
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The Notice of AGM and Annual Report 2024-25 will be distributed exclusively through electronic mode to registered email addresses, with hard copy letters containing web-links sent to members without registered email addresses. All documents will be available on the bank’s website and submitted to stock exchanges as per regulatory requirements.
Governance Appointments and ADR Amendment
Subject to shareholder agreement, the board designated M/s. Parikh Parekh & Associates, Company Secretaries as the Secretarial Auditor for a five-year consecutive term, from FY2026 to FY2030. The Mumbai-based firm, established in 2004, brings 31 team members including six partners with expertise in corporate law, SEBI regulations, and FEMA compliance.
The board also adopted changes to the ICICI Bank ADR Deposit Agreement that will allow registered holders of American Depository Shares to vote, pending RBI clearance. These voting rights will be contingent upon compliance with Section 12B of the Banking Regulation Act, 1949, and applicable Master Directions.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
Also read: Blue-Chip Buying Lifts Markets: Asian Paints, Power Grid, ICICI Bank ally on June 27
Published on: June 28, 2025 / M Vishnu
Hitachi Energy to Supply 30 Ultra-High Voltage Transformers Worth 30 Million Household Capacity
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सर्वधर्मान्परित्यज्य मां एकं सरणं व्रज।
Abandon all varieties of religion and just surrender unto Me. I shall deliver you from all sinful reactions. Do not fear.
