Prudential Sells ICICI Stake for Public Float

Prudential Plc intends to divest up to a 2% stake in ICICI Prudential Asset Management Company. This strategic sale is designed to help the company adhere to India's minimum public shareholding regulations, with the stake estimated to be worth approximately ₹3,190 crore based on recent closing prices.

Indian corporate law mandates that large listed companies with an initial public offering below 15% public shareholding must raise this float to at least 15% within five years and 25% within ten years. For ICICI Prudential AMC, this deadline is tied to its IPO on December 19, 2025.

This proposed transaction will consequently reduce the shareholding of ICICI Prudential AMC's controlling shareholders, or promoters, from their current 87.6% to 85.6%. Prudential AMC currently holds a 34.6% share in the asset management firm.