Prudential Corporation Holdings, a promoter of ICICI Prudential AMC, plans to sell up to 98.85 lakh shares through the open market on Thursday (August 27), according to a disclosure on Wednesday. The shares may be sold in one or more tranches during the trading session.
The sale is being undertaken to increase public shareholding in ICICI Prudential AMC and move the company towards meeting minimum public shareholding requirements.
If the entire 2% stake is sold, the combined holding of ICICI Prudential AMC’s promoters and promoter group will decline to 85.60% from 87.60%.
The offer price range of ₹2,998-₹3,158 per share puts the potential transaction value at up to ₹3,121 crore.
The shares being sold represent 2% of ICICI Prudential AMC’s paid-up equity capital. The transaction is intended to move shares from the promoter group to investors outside the group, thereby increasing public shareholding.
ICICI Bank, Prudential entities won’t buy shares
ICICI Bank, the other promoter of ICICI Prudential AMC, has undertaken not to purchase the asset manager’s shares in the open market on August 27.Prudential Corporation Holdings and other entities belonging to its promoter group will also stay out of buying shares on the day. Connected persons of Prudential plc, the UK-based financial services group and ultimate holding company of Prudential Corporation Holdings, will also not participate in the sale.
These restrictions are intended to ensure that the shares sold by Prudential move outside the promoter group and contribute to an increase in public shareholding.
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Prudential reshaping India insurance holdings
The stake sale comes as Prudential makes changes to its broader portfolio of financial-services investments in India.On August 18, the Competition Commission of India cleared Prudential Corporation Holdings’ proposed acquisition of a stake in Bharti Life Insurance Company. Prudential plc had announced in May that it would acquire a 75% stake in Bharti Life Insurance for ₹3,500 crore from Bharti Life Ventures and 360 ONE Asset Management.
Prudential currently holds around 22% in its life-insurance joint venture with ICICI Bank. Its proposed acquisition of Bharti Life Insurance would require it to reduce its holding in the existing insurance venture to comply with regulatory requirements.
The Bharti Life transaction involves an initial cash consideration of ₹3,500 crore, or about $389 million, payable upon completion, Prudential had said.
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Block and bulk deal activity in 2026
The ICICI Prudential AMC transaction comes amid increased share sales by existing investors through India’s secondary market. With four months still to go in 2026, founders, early-stage promoters and private equity investors are on track to surpass ₹4 lakh crore in share sales through block and bulk deals.
According to Prime Database data, existing investors have sold shares worth ₹3.63 lakh crore through 9,616 block and bulk deals so far this year.
The pace of dealmaking has been supported by domestic mutual funds and insurers, while foreign portfolio investors have remained cautious about investing in Indian equities.
