Prudential plc has sold a further 2% stake in ICICI Prudential Asset Management Company for approximately 30 billion rupees ($300 million), reducing its holding to 32.59% from 34.59%. The disposal was executed via a bookbuilding process on Indian exchanges, with ICICI Securities and BofA Securities India acting as brokers.
The sale price of 3,065 rupees per share represented a 4.9% discount to ICICI Prudential AMC’s closing price on the transaction date, while trading at a 4.7% premium to the volume-weighted average price since the asset manager’s December 19, 2025 initial public offering. Prudential recorded a gain of roughly $300 million from the transaction, net of expenses and taxes, based on the book value as of June 30, 2026.
The disposal forms part of efforts to meet India’s minimum free-float requirement of 15% within five years of listing. ICICI Prudential AMC, India’s second-largest asset manager by quarterly average assets under management as of September 30, 2025, reported a net profit of 32.98 billion rupees for the financial year ended March 31, 2026.
Proceeds from the sale, following prior disposals in December 2025 that generated $1.4 billion after costs, will be returned to Prudential shareholders through share buybacks.
