ICICI Prudential Life Insurance Company Limited has completed the allotment of 85,478 equity shares under its employee stock schemes on January 13, 2026. The allotment was executed at 10:49 a.m. IST and represents the company's ongoing commitment to employee participation through equity-based compensation programs.

Share Allotment Details

The total allotment of 85,478 equity shares was distributed across two distinct employee schemes operated by the company. Each share carries a face value of ₹10.00, maintaining consistency with the company's existing equity structure.

Employee Stock Schemes Overview

The allotment encompasses shares from two separate employee benefit programs. The larger portion of 83,378 equity shares was allocated under the 'ICICI Prudential Life Insurance Company Limited - Employees Stock Option Scheme (2005)', which represents the company's established long-term employee incentive program.

Additionally, 2,100 equity shares were allotted under the 'ICICI Prudential Life Insurance Company Limited - Employees Stock Unit Scheme (2023)', reflecting the company's newer employee participation initiative launched in 2023.

Regulatory Compliance

The company has formally notified both the BSE Limited and National Stock Exchange of India Limited regarding this share allotment, ensuring full compliance with listing requirements. The notification was signed by Company Secretary Priya Nair (ACS 17769) and submitted to the respective stock exchanges' listing departments.

Corporate Structure Impact

This allotment represents the company's continued focus on employee retention and motivation through equity participation. The shares allotted under both schemes will contribute to the company's overall equity base while providing employees with ownership stakes in the organization's performance and growth.

ICICI Prudential Life Insurance Company Limited has successfully completed the divestment of its entire stake in ICICI Prudential Pension Funds Management Company Limited (ICICI PFM) to ICICI Bank Limited. The transaction, valued at ₹2.035 billion, was executed on January 12, 2026, marking a significant corporate restructuring within the ICICI group.

Transaction Details

The share purchase agreement (SPA) was executed on January 12, 2026, at 11:49 a.m., with all formalities completed subsequently. The transaction involved the sale of the entire 100% equity shareholding held by ICICI Prudential Life Insurance in ICICI PFM to ICICI Bank.

Corporate Structure Changes

Following the completion of this transaction, ICICI PFM has transitioned from being a wholly owned subsidiary of ICICI Prudential Life Insurance to becoming a wholly owned subsidiary of ICICI Bank. This restructuring represents a strategic realignment within the broader ICICI group ecosystem.

As part of the transaction completion, ICICI Prudential Life Insurance will withdraw its nominee directors from the board of ICICI PFM, reflecting the change in ownership structure.

Related Party Transaction Framework

The transaction falls under the related party transaction category, given the existing corporate relationships within the ICICI group. Key relationship details include:

• ICICI Bank holds 50.95% shareholding in ICICI Prudential Life Insurance Company as of December 31, 2025
• ICICI Bank serves as both a promoter and holding company of ICICI Prudential Life Insurance
• Prior to the transaction, ICICI PFM was a wholly owned subsidiary of ICICI Prudential Life Insurance

Regulatory Compliance

The transaction was completed following approvals from regulatory and statutory authorities as required under applicable regulations. The disclosure was made under Regulation 30 and Regulation 51 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company had previously intimated the stock exchanges about this proposed transaction through communications dated July 19, 2025, November 28, 2025, and January 6, 2026, demonstrating adherence to disclosure requirements throughout the process.

Strategic Implications

This divestment represents a strategic move within the ICICI group structure, with the pension fund management business now directly under ICICI Bank's umbrella. The transaction was based on fair value assessment conducted by an independent valuer, ensuring appropriate pricing for the asset transfer.

The completion of this transaction demonstrates the group's ability to execute complex intra-group restructuring while maintaining regulatory compliance and transparency in disclosure practices.