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Prudential cuts ICICI AMC stake by 2% for $0.3b
Shares changed hands at INR3,065 each on 27 August.
Prudential plc has sold a 2% stake in ICICI Prudential Asset Management Company through an open market sale, raising proceeds equivalent to $0.3b.
Prudential Corporation Holdings Limited, a subsidiary of Prudential, sold the shares at $32.1 (INR3,065) each.
The sale was completed on 27 August 2026, using an INR/US dollar exchange rate of 95.4263.
Prudential said the net proceeds will be returned to shareholders through a share buyback, as announced in its 2026 half-year results.
The actual proceeds in US dollar terms are subject to exchange rates, fees, other costs and any applicable taxes.
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