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Prudential to Sell 2% Stake in ICICI Prudential Asset Management Joint Venture

Provided by Dow Jones Aug 26, 2026, 4:05:00 PM

By Michael Hennessey

Prudential said it would sell up to a 2% stake in its joint venture ICICI Prudential Asset Management.

The insurance and investment company said Wednesday that it would start an open-market process to divest the stake in the joint venture with ICICI Bank. Shares in ICICI Prudential Asset Management, or IPAMC, closed in India at 3,212.60 Indian Rupees ($33.78), giving the company a market value of $16.99 billion.

The sale is to help IPAMC move toward meeting India's minimum public float requirement of 15% within five years of its initial public offering in Dec. 2025, Prudential said.

It added that the sale would be executed on Thursday. After the sale, Prudential will retain a 32.6% stake in the joint venture, and its governance rights will be unchanged.

Write to Michael Hennessey at michael.hennessey@wsj.com

(END) Dow Jones Newswires

August 26, 2026 07:05 ET (11:05 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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