1. ISEC PMS business acquisition completed within a year Pending - In the announcement dated 10th August 2026, the company stated the acquisition of ICICI Securities' (ISEC) PMS business is "expected to be completed within a year, subject to receipt of necessary approvals", with consideration at 1.20% of actual AUM to be transferred. No completion has been disclosed as of 31 Aug 2026; the ISEC PMS business had revenue of ₹20.88 crores in FY2026.
2. ESOP/ESU P&L charge of ₹64-68 crore in FY27 On track - At the Q4 FY26 call, CFO Naveen Agarwal guided to an approximate P&L debit of ₹64-68 crore for FY27, ₹36-40 crore for FY28 and ₹18-22 crore for FY29, vesting over 3 years; at the Q1 FY27 call he reiterated ₹125-130 crores total and said the cost "will not be front-ended". ESOP expenses began debiting from Q1 FY27, with employee benefits expense at ₹2,039.9 mn vs ₹1,411.3 mn in Q4 FY26.
3. ICICI Venture AIF investment management services effective April 1, 2026 Delivered - At the Q4 FY26 call, management committed to providing investment management services for AIFs transferred from ICICI Venture Funds Management Company with effect from April 1, 2026. Post receipt of requisite approvals, the transfer was completed and documents executed, with fee-paying committed funds of ₹4,628 crore moving to the company as of April 1, 2026.
4. GIFT City inbound fund launch and scale-up Delivered - At the Q3 FY26 call, management said they were "in the process of raising money for an inbound fund out of our GIFT City branch" and "will scale this up over a period of time". In February 2026 the company launched the open-ended Category 3 AIF ICICI Prudential Smart Navigator Fund, its first offering in IFSC GIFT City, which was gaining traction with growing investor interest by Q1 FY27.
5. SEBI mutual fund circular changes - impact update closer to effective date Delivered - At the Q3 FY26 call, management said the SEBI circular changes (5 bps exit load component, TER slab cut with GST allowance, brokerage limit rationalization) were "expected to be effective 1st of April", with updates promised closer to the date; at the Q4 FY26 call the CFO pegged the gross impact at 3 to 4 basis points before any pay-out. By the Q1 FY27 call, annualized margins showed no negative impact - 66 bps equity, 32 bps debt, 12 bps liquid, 12 bps passive, 30 bps arbitrage.
6. Two SIF NFOs in January 2026 Delivered - At the Q3 FY26 call, management said the two SIF product NFOs would happen "in 2 days' time" from the media call, declining to put out any fundraising number. The iSIF Equity ex Top 100 Long Short Fund and iSIF Hybrid Long Short Fund launched in January 2026, with total iSIF AUM of ₹1,896 crore as of March 31, 2026.