ICICI Prudential Asset Management Company (AMC) received the Indian markets regulator’s administrative warning letter on Tuesday against its alternative investment fund after getting a complaint from an investor. The regulator observed a procedural delay in verifying the investor’s eligibility in the ICICI Prudential Strategic Alpha Fund, the company said in an exchange filing on Wednesday.
“The amount was refunded later upon carrying out the necessary checks along with additional amount as compensation,” the AMC said without giving further details about the amount. The fund is managed under the Securities and Exchange Board of India’s (Sebi) Alternative Investment Funds Regulations, 2012. The company also said the warning letter has no material impact on its financial, operation, or other activities.
In April, the company along with two other entities had settled a suo-motu case with Sebi for delaying the winding up process of the ICICI Prudential Venture Capital Fund – Real Estate Scheme – I by about four years before the proceeds were distributed to investors.
ICICI Prudential AMC is one of the top domestic asset management entities, with a quarterly average asset under management (QAAUM) of ?11.05 trillion for the three months ended March 2026 and a market share of 13.5%.
