Mumbai: Prudential Corporation Holdings Limited plans to sell up to 98,85,169 shares, representing 2 percent of ICICI Prudential Asset Management Company’s paid-up equity capital, through the open market on August 27, 2026.
Open-market divestment
ICICI Prudential AMC disclosed the promoter’s proposed divestment in a regulatory filing to BSE and the National Stock Exchange on Wednesday.
The shares have a face value of ₹1 each. The sale may be completed in one or multiple tranches during the trading session, depending on market conditions.
The transaction is intended to help the asset manager move towards meeting minimum public shareholding requirements prescribed under securities regulations.
Promoter holding to decline
As of August 21, 2026, promoters and members of the promoter group collectively held 87.60 percent of ICICI Prudential AMC’s equity capital.
After the proposed sale is completed, their aggregate holding is expected to decline by two percentage points to 85.60 percent. The divestment will consequently increase the company’s public shareholding.
The proposed transaction follows Rule 19(2)(b) and Rule 19A of the Securities Contracts (Regulation) Rules, 1957, along with Regulation 38 of SEBI’s listing regulations.
Trading safeguards outlined
Prudential Corporation Holdings and other promoter-group entities have undertaken not to purchase ICICI Prudential AMC shares in the open market on the date of the proposed sale.
The company said it would ensure compliance with applicable laws, including SEBI’s insider-trading rules and substantial acquisition and takeover regulations, while undertaking the transaction.
Certain connected persons linked to Prudential plc, the ultimate holding company of Prudential Corporation Holdings, will also be barred from participating in the sale.
These include directors of Prudential plc or its subsidiaries, their immediate family members and companies in which such persons, individually or jointly, exercise 30 percent control.
ICICI Prudential AMC said the disclosure would also be hosted on its website for investors and market participants. The filing did not specify a floor price or the estimated value of the shares proposed to be sold through the exchanges.
Disclaimer: This article is based on regulatory disclosures and is intended solely for informational purposes, not as investment advice or trading guidance.
