Prudential Announces Submission of Draft Red Herring Prospectus for ICICI Prudential Asset Management Company IPO

Prudential announces that ICICI Prudential Asset Management Company has filed a Draft Red Herring Prospectus for an initial public offering, which includes an offer for sale of up to 9.91% of Prudential's stake in the company. The DRHP has been filed with relevant Indian regulators and exchanges, and is available on their official websites. The size of the IPO and offer for sale will depend on market conditions, necessary approvals, and other factors. Prudential is also considering a private sale of 2% of its stake in IPAMC to ICICI Bank.