Prudential announces successful listing of ICICI Prudential Asset Management’s equity shares on Indian stock exchanges

19 December 2025, Hong Kong – Prudential plc (“Prudential”) is pleased to announce that ICICI Prudential Asset Management Company Limited (“IPAMC”) has been successfully listed on BSE Limited and National Stock Exchange of India Limited.

The shares commenced trading under the ticker symbol ICICIAMC. The IPO was priced at INR 2,165 per equity share and resulted in a market capitalisation for IPAMC of INR 1,070 billion (approximately USD 11.8 billion). Prudential through Prudential Corporation Holdings Limited (“PCHL”, a subsidiary of Prudential) retains an approximately 35 per cent stake in IPAMC post-listing.

Commenting on the listing, Anil Wadhwani, CEO of Prudential plc, said: “The significant investor demand for the IPO underscores IPAMC's growth strategy and its strong position in India – a key strategic market for Prudential. This milestone not only highlights IPAMC’s quality and potential for long-term value creation but also represents an important step in delivering value to our shareholders. We look forward to supporting the company’s continued journey as a publicly listed entity. I would like to congratulate the IPAMC leadership and management team on this successful listing.”

The estimated net proceeds¹ from this IPO and the earlier pre-IPO private placement are INR 130 billion (approximately USD 1.4 billion)² and, as previously communicated, are intended to be returned to Prudential shareholders, subject to regulatory and shareholder approvals where required. 

_{1. 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.}

_{2. Based on INR / USD of 90.36 as of 18 December 2025.}

Ends

Background on Prudential in India

Prudential has over 100 years of history in India. It has offered life insurance solutions in India since the 2001 establishment of ICICI Prudential Life Insurance Company Limited, a joint venture with ICICI Bank, and it has consistently been amongst the top companies in the Indian life insurance sector. ICICI Prudential Life is also the first insurance company in India to be listed on both the National Stock Exchange and Bombay Stock Exchange. Earlier this year, Prudential announced plans to establish a standalone health insurance joint venture with Vama Sundari Investments (Delhi) Private Limited, a promoter company of the HCL Group. Prudential retains an approximately 35% stake in ICICI Prudential Asset Management Company, one of India’s largest asset management firms, through its asset management business Eastspring Investments.

Prudential proudly sponsored the historic 1983 Cricket World Cup, a landmark moment when India lifted the trophy and inspired generations.

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.

_{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. Accordingly, the equity shares of IPAMC are being offered and sold (i) within the United States only to persons reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A of the U.S. Securities Act) pursuant to Section 4(a) of the U.S. Securities Act, and (ii) outside the United States in “offshore transactions”, as defined in and in reliance on, Regulation S of the U.S. Securities Act and the applicable laws of the jurisdictions where those offers and sales occur. There will be no public offering of securities in the United States.}