Published by Global Banking and Finance Review
Posted on December 11, 2025
1 min readLast updated: January 20, 2026
Prudential sells a 4.5% stake in ICICI Prudential for $545M ahead of the $1.2B IPO, with proceeds to be returned to shareholders.
Dec 11 (Reuters) - British insurer Prudential said on Thursday it has sold a 4.5% stake in ICICI Prudential Asset Management for 49 billion rupees (about $545 million) ahead of the Indian fund manager's $1.2 billion IPO that opens on Friday.
The fund house is a joint venture between ICICI Bank, India's second-largest private lender, which holds 51%, and Prudential, which owns the rest.
Abu Dhabi Investment Authority, the family offices of Azim Premji and Rakesh Jhunjhunwala, and Indian insurers including SBI Life, HDFC Life and Go Digit General Insurance bought the shares from Prudential. ICICI Bank also bought shares worth 21.40 billion rupees.
ICICI Prudential Asset Management will not issue any new shares at the IPO where only Prudential will sell a 10% stake. The stock is expected to list on exchanges on December 19.
Prudential said proceeds from the private placement and the IPO will be returned to shareholders, subject to regulatory and shareholder approvals.
($1 = 90.0170 Indian rupees)
(Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala)
Asset management refers to the systematic process of developing, operating, maintaining, and selling assets in a cost-effective manner. It involves managing investments on behalf of clients to achieve specific financial goals.
An IPO, or Initial Public Offering, is the process through which a private company offers shares to the public for the first time. This allows the company to raise capital from public investors.
A joint venture is a business arrangement where two or more parties agree to pool their resources for a specific goal, sharing both the risks and rewards. It often involves collaboration on a project or business activity.
A stake in a company refers to the ownership interest that an individual or entity has in that company, typically represented by shares. It indicates the proportion of the company that the stakeholder owns.
A private placement is the sale of securities to a small number of selected investors, rather than through a public offering. This method is often used by companies to raise capital quickly and with less regulatory burden.
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