ICICI Bank shares drop after acquiring more ICICI Prudential AMC stake before IPO

• ICICI Bank shares fell after announcing the acquisition of an additional 2% stake in ICICI Prudential AMC.
• The bank will pay Rs 2,140 crore for the 2% stake in ICICI Prudential Asset Management Company.
• The acquisition precedes ICICI Prudential AMC's upcoming Rs 10,600 crore IPO, set to open on December 12.
• ICICI Bank aims to maintain its majority shareholding in ICICI AMC, India's second-largest mutual fund house.

Why It Matters: Major bank's investment strategy impacts its stock and a significant upcoming IPO.