ICICI Prudential Asset Management Co Ltd announced the retirement of Mr. Ved Prakash Chaturvedi as an Independent Director effective June 30, 2026. The director stepped down following the completion of his second term of office, which concluded at the close of business hours on the specified date. This change impacts the company's board composition as it continues its operations in the asset management sector.

The disclosure was made to BSE Limited and the National Stock Exchange of India Ltd. in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the retirement was due solely to the completion of the director's tenure and not for any other reason.

Mr. Ved Prakash Chaturvedi held the position of Independent Director, serving his second term with the asset manager. The company has provided the necessary details regarding the change in directorate as per Para A (7) of Part A of Schedule III of the SEBI Listing Regulations. The information was submitted by Rakesh Shetty, Chief Compliance Officer & Company Secretary of ICICI Prudential Asset Management Co Ltd.

Details of Change in Directorate

The following table outlines the specifics of the director's cessation:

ICICI Prudential Asset Management Company Limited declared a final dividend of ₹12.40 per equity share of ₹1 each for the financial year ended March 31, 2026, at its Thirty-Third Annual General Meeting held on June 24, 2026. The meeting, chaired by Mr. Sandeep Batra, was conducted via video conferencing in compliance with the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The statutory and secretarial audit reports for the financial year contained no qualifications, reservations, or adverse remarks.

Resolutions Passed

Shareholders approved eight resolutions, including the adoption of financial statements and the declaration of the final dividend. The re-appointment of Mr. Nimesh Shah, Managing Director and Chief Executive Officer, who retires by rotation, was also approved. The board saw the appointment of Mr. Prashant Kumar as an Independent Director and Mr. Rajeev Mittal as a Non-Executive Director during FY2026.

Voting Results

All resolutions were passed with the requisite majority. The voting results, scrutinized by M/s. Alwyn D'Souza & Co., Company Secretaries, indicated strong shareholder approval across categories. The table below summarizes the voting outcomes for key resolutions.

Management and Appointments

The meeting welcomed Mr. Sidharatha Mishra, Mr. Rajeev Mittal, and Mr. Prashant Kumar to the Board of Directors. The Chairman expressed gratitude to Mr. Maldonado and Ms. Anubhuti Sanghai, who ceased to be directors during FY2026, and to Mr. Ved Prakash Chaturvedi, whose tenure as an Independent Director concludes on June 30, 2026.

Remuneration Revisions

Shareholders approved revisions in the remuneration of Mr. Nimesh Shah, Managing Director, and Mr. Sankaran Naren, Executive Director and Chief Investment Officer. The resolutions received 99.99% approval from the votes polled. The company also appointed M/s. Parikh & Associates as Secretarial Auditors for a term of five consecutive years.