ICICI Bank to raise stake in asset management arm by up to 2%

ICICI Bank board approves buying an extra 2% stake in ICICI Prudential AMC to retain majority control.

Move ensures ICICI Bank's stake stays above 51% amid stock-based compensation grants.

ICICI Prudential AMC posted Rs 1,815 crore profit in FY24 vs Rs 1,508 crore in FY23.

Board also okays ADR agreement amendment to grant voting rights to ADS holders, pending RBI nod.