ICICI Bank has confirmed that SEBI has approved the proposed transfer of the private equity, venture capital, and real estate fund management business from ICICI Venture Funds Management Company Limited (IVen) to ICICI Prudential Asset Management Company Limited (IPru AMC). This approval, received on March 2, 2026, is valid for six months, allowing the transition to proceed subject to final regulatory clearances and agreements.
Regulatory Update on Business Restructuring
ICICI Bank Limited has issued a formal notification regarding the restructuring of its fund management operations. This follows a previous disclosure made on May 9, 2025, concerning the proposed transfer of the private equity, venture capital, and real estate fund management business currently managed by ICICI Venture Funds Management Company Limited (IVen).
The designated recipient of this business undertaking is ICICI Prudential Asset Management Company Limited (IPru AMC). The transfer remains contingent upon receiving all necessary regulatory approvals, completing procedural formalities, and executing final agreements between the parties involved.
SEBI Approval for AIF Manager Change
The Bank has received critical confirmation that the Securities and Exchange Board of India (SEBI) has officially accorded its approval for the proposed change in the Manager and Sponsor for several Category II Alternative Investment Funds (AIFs). This approval was communicated via email received on March 2, 2026, and it is stipulated to be valid for a period of six months.
Affected Alternative Investment Funds (AIFs)
The following five AIFs managed under the IVen umbrella will transition to IPru AMC management:
- India Advantage Fund S4 I (SEBI No: IN/AIF2/15-16/0170)
- India Advantage Fund S5 I (SEBI No: IN/AIF2/21-22/0939)
- India Advantage Fund S5 II (SEBI No: IN/AIF2/21-22/0998)
- India Real Estate Investment Fund Series 2 (SEBI No: IN/AIF2/22-23/1144)
- Iven Amplifi Fund (SEBI No: IN/AIF2/23-24/1341)
The Bank requests that all relevant parties take note of this significant development concerning the managerial transition across these five key funds.
Source: BSE
