ICICI Prudential Life announces board changes, debenture actions

ICICI Prudential Life Insurance Company Limited announced key board changes and debenture-related decisions following a board meeting on September 12, 2025. The board accepted the resignations of non-executive directors Mr. Solmaz Altin and Mr. Anuj Bhargava, effective close of business hours on September 12, 2025. Subsequently, Mr. Navin Tahilyani and Mr. Samit Upadhyay were appointed as non-executive (additional) directors, effective September 13, 2025. A postal ballot process will be initiated to seek shareholders’ approval for these appointments.

In debenture-related actions, the company approved the exercise of a call option on November 6, 2025, for the redemption of 12,000 non-convertible debentures, aggregating up to ₹12.00 bn, at par. The record date for this call option is fixed as Monday, October 20, 2025.

Additionally, ICICI Prudential Life announced the issuance of new non-convertible debentures, in the nature of subordinated debt instruments, aggregating up to ₹12.00 bn. These will be issued on a private placement basis over the next twelve months to raise capital, in accordance with regulatory guidelines.