Prudential Completes Private Placement of ICICI Prudential Asset Management Company Shares and Announces IPO Price Range

Prudential has completed the pre-IPO private placement of a 4.5% stake in ICICI Prudential Asset Management Company (IPAMC), selling a total of 22,240,841 shares at INR 2,165 per share, raising over INR 48 billion, approximately US$536 million. The net proceeds from this private placement and the subsequent IPO are intended to be returned to Prudential shareholders, subject to necessary regulatory and shareholder approvals. IPAMC has set the proposed IPO price range at INR 2,061 to 2,165 per share, with the IPO opening on December 12, 2025 and closing on December 16, 2025.