Prudential : completes private placement of shares in ICICI Prudential Asset Management and price band for IPO announced

11-12-2025

11 December 2025, Hong Kong - Prudential plc ("Prudential") today announced it has successfully completed a pre-IPO private placement, selling an aggregate 4.5 per cent of the total equity share capital of ICICI Prudential Asset Management Company Limited ("IPAMC") by Prudential Corporation Holdings Limited ("PCHL", a subsidiary of Prudential).

The transaction involved the sale of 12,355,671¹ shares to a number of investors and 9,885,170 shares to ICICI Bank Limited (in accordance with the inter-se agreement dated 8 July 2025). The shares were priced at INR 2,165 per equity share, generating gross proceeds of over INR 48 billion, approximately USD 536 million². The private sale of shares follows the filing of a Red Herring Prospectus ("RHP") dated 5 December 2025.

The net proceeds from this pre-IPO private placement, together with those from the potential IPO, are intended to be returned to Prudential shareholders, subject to regulatory and shareholder approvals where required.

Also, IPAMC has set the price band for the proposed IPO at INR 2,061 to INR 2,165 per equity share of face value INR 1 each. The IPO will be conducted through a book-building process, which will open on 12 December 2025 and close on 16 December 2025.

The filing of the final Prospectus and further details of the potential IPO are expected shortly.

_{1. The credit of 1,258,661 Equity Shares to HDFC Life Insurance Company Limited is pending as of time of this release.}

_{2. Based on USD / INR of 89.884 as of 9 December 2025. Actual proceeds in terms of USD are subject to the relevant exchange rate and the deduction of applicable fees and other costs including any tax chargeable. Further details will be provided in due course.}

Ends

Media		Investors/Analysts
Simon Kutner	[phone]	Patrick Bowes	[phone]
Sonia Tsang	[phone]	William Elderkin	[phone]
		Ming Hau	[phone]
		Bosco Cheung	[phone]
		Tianjiao Yu	[phone]

About Prudential plc

Prudential provides life and health insurance and asset management in Greater China, ASEAN, India and Africa. Prudential's mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong (HKEX: 2378) and the London Stock Exchange (LSE: PRU). It also has a secondary listing on the Singapore Stock Exchange (SGX: K6S) and a listing on the New York Stock Exchange (NYSE: PUK) in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme and the Shanghai-Hong Kong Stock Connect programme.

Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom.

https://www.prudentialplc.com/

Potential investors should not rely on the draft red herring prospectus, dated July 8, 2025, and filed with SEBI in making any investment decision. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the Red Herring Prospectus ("RHP") dated 5 December 2025 filed with the Registrar of Companies, Delhi and Haryana at Delhi, including the section titled "Risk Factors". This announcement is not an offer of securities for sale in the United States or elsewhere. This announcement is not for publication or distribution, directly or indirectly, in or into the United States. The equity shares described in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. There will be no public offering of securities in the United States.