ICICI stake watch: ICICI Bank moves to retain majority in AMC, ADR rules set for tweak

ICICI Bank plans to increase its stake in ICICI Prudential AMC by up to 2% to maintain majority control amidst potential equity dilution from stock-based compensation. The bank’s board has approved the purchase, pending regulatory approvals. Additionally, the board approved granting voting rights to American Depository Shares holders, subject to RBI approval and compliance with banking regulations.