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The Economic Times
The Economic Times
Business
Debaroti Adhikary

ICICI Prudential AMC shares decline 7% in two days as promoter plans 2% stake sale

ICICI Prudential AMC NSE

Shares of ICICI Prudential Asset Management Company declined 5% to Rs 3,064 on the BSE on Thursday as promoter, Prudential Corporation Holdings, is set to sell up to 2% stake in the company through open-market transactions. With today's fall, the stock is dwn 7% in two straight sessions.

ICICI Prudential AMC on Wednesday announced in an exchange filing that Prudential Corporation Holdings, one of the promoters of the company, intends to sell up to 2% equity stake or 98.85 lakh shares in the firm to comply with the requirements of minimum public shareholding. At the previous closing price of Rs 3,222.80 apiece on NSE, this would be worth more than Rs 3,185.79 crore.

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