British-domiciled insurer Prudential Plc announced on Wednesday that it is evaluating the potential listing of ICICI Prudential Asset Management Co., which could involve a partial divestment of its shares through the initial public offering route, subject to market conditions, necessary approvals, and other factors.
The firm stated that any net proceeds from the divestment via the potential IPO would be returned to shareholders. “We will provide a further update at an appropriate time,” it added.
Prudential emphasised that India remains a strategically significant market with strong growth potential, and the company is committed to exploring further opportunities for business expansion in the region.
ICICI Bank, while sharing the announcement made by its joint venture partner Prudential with the exchanges, said, “We intend to retain our majority shareholding in ICICI Prudential Asset Management Company, ensuring our long-term commitment.”
The joint venture between ICICI Bank and Prudential, established in 1998 with a 51:49 ownership structure, has now been operational for 26 years.
ICICI Prudential AMC offers a range of services, including portfolio management and advisory mandates for investors across debt, equity, and real estate markets, both domestically and internationally.
