FILE PHOTO: FILE PHOTO: A bird flies past the facade of the ICICI bank head office in Mumbai, India, April 21, 2023. REUTERS/Francis Mascarenhas/File Photo/File Photo
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FRANCIS MASCARENHAS
ICICI Prudential Asset Management Company announced on Wednesday that its Smallcap Fund will resume subscriptions from January 23, 2026, ending a nearly 22-month suspension. The trustee, ICICI Prudential Trust Limited, approved the reopening, signaling improved valuations in the small-cap segment.
All investment restrictions at the PAN level have been withdrawn. The fund will now accept fresh and additional lump sum purchases, switch-ins from other schemes, and new registrations through systematic investment plans (SIP) and systematic transfer plans (STP).
The fund had stopped accepting fresh subscriptions on March 14, 2024, following concerns over elevated valuations in mid-cap and small-cap stocks. The move was in line with actions by other major asset management companies, including Nippon, Tata, and Kotak Mutual Funds, after the Securities and Exchange Board of India directed funds to conduct stress tests on their mid-cap and small-cap schemes.
ICICI Prudential Smallcap Fund, launched in October 2007, manages assets worth approximately ₹8,428 crore. The equity-oriented scheme invests predominantly in small-cap stocks across a diversified portfolio of over 100 companies. Industrials constitute 26.22 per cent of the portfolio, followed by Basic Materials at 22.73 per cent and Consumer Cyclical at 12.77 per cent. The fund has delivered a three-year CAGR of 14.74 per cent as of January 20, 2026. It is managed by Anish Tawakley and Aatur Shah.
ICICI Prudential Asset Management Company Limited shares were trading at ₹2,865.80 on the NSE on Thursday morning, up ₹22.50 or 0.79 per cent from the previous close of ₹2,843.30. The stock opened at ₹2,868 and touched an intraday high of ₹2,895. The company, recently listed on December 19, 2025, has a total market capitalization of ₹1,41,387.59 crore.
Published on January 22, 2026