Prudential raises over $530m from ICICI Prudential AMC sale

ICICI Prudential AMC has set its IPO price band at $22.67.

Prudential plc has completed a pre-initial public offering (IPO) private placement for ICICI Prudential Asset Management Company Limited, selling 4.5% of the company’s equity.

Prudential Corporation Holdings Limited, a subsidiary of Prudential, sold 12,355,671 shares to multiple investors and 9,885,170 shares to ICICI Bank Limited under an existing agreement dated 8 July 2025.

The shares were priced at $23.82 (₹2,165) each, generating more than $0.53b (₹48b) in gross proceeds, or about $536m.

The placement follows the filing of the Red Herring Prospectus on 5 December 2025.

Prudential said net proceeds from the private sale, together with funds expected from the upcoming IPO, will be returned to shareholders, subject to regulatory and shareholder approval.

ICICI Prudential AMC has set its IPO price band at $22.67 (₹2,061) to $23.82 (₹2,165) per share.

The offering will use a book-building process and will open on 12 December 2025, closing on 16 December 2025.

The company is expected to file the final prospectus and release further details of the IPO soon.