Prudential cuts ICICI AMC stake by 2% for $0.3b

Shares changed hands at INR3,065 each on 27 August.

Prudential plc has sold a 2% stake in ICICI Prudential Asset Management Company through an open market sale, raising proceeds equivalent to $0.3b.

Prudential Corporation Holdings Limited, a subsidiary of Prudential, sold the shares at $32.1 (INR3,065) each. 

The sale was completed on 27 August 2026, using an INR/US dollar exchange rate of 95.4263.

Prudential said the net proceeds will be returned to shareholders through a share buyback, as announced in its 2026 half-year results.

The actual proceeds in US dollar terms are subject to exchange rates, fees, other costs and any applicable taxes.