ICICI Prudential MF seeks clarity from Sebi on compensation to investors

ICICI Securities shares hit new low; Outgo could be nearly a third of the MF's net worth

The country’s largest asset manager, ICICI Prudential Mutual Fund, has approached the Securities and Exchange Board of India (Sebi) on the issue of compensation to unit holders due to losses incurred from the share sale of sister concern ICICI Securities.

Earlier this week, the market regulator directed the found house to return Rs 2.4 billion, along with an interest of 15 per cent per annum, to the five schemes that applied in the initial public offering (IPO) of the broking and investment banking firm.

“The fund house wants to discuss various scenarios, including whether it should sell the shares of