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ICICI Prudential AMC gets RBI approval to buy up to 9.95% stake in Kotak and 3 other banks

ICICI Prudential AMC secured Reserve Bank of India approval for significant bank share acquisitions. The approval allows for aggregate holdings up to 9.95 percent in four specific banks. These banks include Kotak Mahindra Bank, AU Small…

ICICI Prudential AMC gets RBI approval to buy up to 9.95% stake in Kotak and 3 other banks
ICICI Prudential AMC gets RBI approval to buy up to 9.95% stake in Kotak and 3 other banks
By

Akash Podishetti

, ETMarkets.com

Synopsis

ICICI Prudential AMC secured Reserve Bank of India approval for significant bank share acquisitions. The approval allows for aggregate holdings up to 9.95 percent in four specific banks. These banks include Kotak Mahindra Bank, AU Small Finance Bank, CSB Bank, and DCB Bank. The acquisitions will be made as an investment manager for various mutual fund schemes. This move provides ICICI Prudential AMC increased investment flexibility across its managed portfolios.

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