British insurer Prudential has sold a 4.5% stake in ICICI Prudential Asset Management Company (ICICI Pru AMC) for ₹4,900 crore (approximately $545 million), according to media reports. The stake sale comes just days before the fund manager’s highly anticipated $1.2 billion IPO, which opens on December 12, 2025.
Stake Sale Details
The transaction saw participation from a strong set of domestic and global investors, including:
- Abu Dhabi Investment Authority (ADIA)
- Family offices of Azim Premji and Rakesh Jhunjhunwala
- Indian insurers such as SBI Life, HDFC Life, and Go Digit General Insurance
- ICICI Bank, which acquired shares worth ₹2,140 crore
ICICI Prudential AMC operates as a joint venture between ICICI Bank (51%) and Prudential (49%). As part of the upcoming IPO, no new shares will be issued; instead, Prudential will divest an additional 10% stake via an offer for sale.
IPO and Listing Plan
The IPO aims to raise $1.2 billion through a pure offer for sale. Shares are expected to list on the BSE and NSE on December 19, 2025.
Prudential has stated that it intends to return the proceeds from both this pre-IPO stake sale and the IPO offer for sale to its shareholders, subject to necessary approvals.
Summary
Prudential has sold a 4.5% stake in ICICI Prudential AMC for ₹4,900 crore ahead of the fund manager’s $1.2 billion IPO opening on December 12. Major global and domestic investors participated, including ADIA and ICICI Bank. In the IPO, Prudential will sell an additional 10% stake, with listing expected on December 19, 2025. Proceeds from the sale are planned to be returned to Prudential’s shareholders pending approvals.
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