Prudential plc has announced that Prudential Corporation Holdings Limited (PCHL), ICICI Prudential Asset Management Company (IPMAC) and underwriters to the initial public offering (IPO), have entered into an underwriting agreement dated 16 December 2025, for the IPO of IPAMC.
IPAMC has filed the prospectus with the Registrar of Companies, Delhi and Haryana at Delhi.
In connection with this IPO, PCHL will sell 13,957,303 IPAMC shares at a price per share of INR2,165 ($23.78) to a number of anchor investors and 35,015,691 IPAMC shares at a price per share of INR2,165 to other investors. The gross proceeds to be received by PCHL from the IPO will be INR106bn.
The value of the net proceeds, together with those from the pre-IPO private placement transaction announced on 11 December 2025, are intended to be returned to Prudential shareholders, subject to regulatory and shareholder approvals where required.