Prudential files for ICICI Prudential Asset Management IPO

Prudential plc announced today the filing of the Red Herring Prospectus (RHP) with the Registrar of Companies, Delhi and Haryana, for an Initial Public Offering (IPO) of ICICI Prudential Asset Management Company Limited (IPAMC). The IPO will comprise an offer for sale of up to 9.91% of IPAMC's equity share capital by Prudential Corporation Holdings Limited, a Prudential subsidiary. The RHP has also been filed with SEBI, BSE Limited, and National Stock Exchange of India Limited.

The RHP is available on the websites of IPAMC, the book running lead managers to the IPO, SEBI, BSE, and NSE. The IPO and the offer amount remain subject to market conditions, requisite approvals, and other considerations.

Prudential plc continues to explore a private sale of 2% of IPAMC to ICICI Bank Limited, in addition to the potential IPO. The company is also considering an additional pre-IPO placement to select institutional investors prior to the completion of the IPO.