ICICI Prudential to invest more in pension subsidiary

ICICI Prudential Life Insurance Company (BSE: ICICIPRULI) announced its board has approved increasing the investment limit in its wholly-owned subsidiary, ICICI Prudential Pension Funds Management Company, from ₹750 million to ₹1000 million. The decision was made at a board meeting held on March 12, 2025. This move aims to bolster ICICI Prudential Pension Funds Management Company's independence by strengthening its network and infrastructure as per regulatory requirements. The initial investment tranche is projected for completion by June 30, 2025. ICICI Prudential will continue to hold 100% of its subsidiary's paid-up equity share capital. In FY2024 ICICI Prudential Pension Funds Management Company's revenue was ₹177.81 million.