Fri Dec 12 04:00:00 UTC 2025: News Article:
Prudential Sells Stake in ICICI Prudential AMC Ahead of Highly Anticipated IPO
Mumbai, India – British insurance giant Prudential PLC has divested a 4.5% stake in ICICI Prudential Asset Management Company (AMC) for ₹4,900 crore (approximately $536 million) ahead of the Indian fund manager’s highly anticipated ₹10,602.65 crore ($1.2 billion) Initial Public Offering (IPO) that opens Friday December 12.
The pre-IPO private placement saw Prudential sell 1,23,55,671 shares to various investors and 98,85,170 shares to ICICI Bank at ₹2,165 per share, in accordance with an earlier agreement. Key investors in the pre-IPO placement included Abu Dhabi Investment Authority, the family offices of Azim Premji and Rakesh Jhunjhunwala, and prominent Indian insurers such as SBI Life, HDFC Life, and Go Digit General Insurance. ICICI Bank, which currently holds a 51% stake in the AMC, also purchased shares worth ₹21.40 billion.
“The net proceeds from this pre-IPO private placement, together with those from the potential IPO, are intended to be returned to Prudential shareholders, subject to regulatory and shareholder approvals where required,” Prudential stated.
The ICICI Prudential AMC IPO, which is entirely an offer for sale (OFS) by Prudential, will see the British firm sell a 10% stake. This means the company will not receive any fresh capital from the IPO. The IPO will run from December 12 to December 16, with a price band of ₹2,061 to ₹2,165 per share. Allotment is expected around December 17, with listing on the BSE and NSE tentatively set for December 19.
ICICI Prudential AMC, a subsidiary of ICICI Bank, is poised to become the fifth asset management company to list on Indian stock exchanges, following HDFC AMC, UTI AMC, Aditya Birla Sun Life AMC, Shriram AMC and Nippon Life India Asset Management. The listing is expected to generate significant investor interest and further solidify the growing prominence of the asset management industry in India.
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