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ICICI Prudential Life shares fell 3.83% amid reports of Prudential Plc’s potential exit from its JV with ICICI Bank. The company denied this.
ICICI Prudential Shares Fall 4% After Reports Claiming The Exit of Prudential From JV
Shares of ICICI Prudential Life Insurance Company Ltd came under pressure on Thursday after media reports suggested that UK-based Prudential Plc may be exploring an exit from its joint venture with ICICI Bank. The company, however, issued a clarification denying any such development.
In response to a query from stock exchanges on the media report, the insurer said it is unaware of any such developments. It also shared a response from Prudential Corporation Holdings Ltd, which stated: “We do not comment on market rumours or speculations.”
The company added that it remains committed to regulatory compliance and will promptly disclose any material information to exchanges.
The stock of ICICI Prudential ended at Rs 566.70, down 3.83%, after hitting an intraday low of Rs 560.60 on the BSE. It opened weak at Rs 581.05 and touched a high of Rs 585.75 during the session, reflecting volatility amid the news flow.
What Triggered The Buzz
According to the Business Standard report, Prudential Corporation Holdings Ltd, which holds a 21.93% stake in ICICI Prudential Life, was exploring a potential exit from the JV with ICICI Bank, which owns 50.95%.
The BS report also said Prudential may be in talks with Bharti AXA Life Insurance for a possible stake deal.
Other foreign insurers are also evaluating entry into the Bharti group-promoted life insurance business.
Despite the speculation, ICICI Prudential Life continues to hold a strong position in the industry. It is the third largest private life insurer in India.
March 19, 2026, 4:15 PM IST
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