ICICI Prudential Life Receives ₹112.37 Cr GST Order from Maharashtra Authorities

ICICI Prudential Life Insurance Company Limited has disclosed receiving a significant GST order from Maharashtra authorities. The company received the order under Section 73 of the Goods and Service Act, 2017 from the Deputy Commissioner of State Tax, Mumbai, Maharashtra, on December 23, 2025, at 4:30 p.m., pertaining to FY2022.

GST Order Details

The regulatory communication involves an order upholding a tax demand that was initially raised under Form GST DRC 07. The primary issue centers around the reversal of input tax credit as per GST Law.

Component	Amount (₹)
GST	56,552,798.00
Interest	50,164,159.00
Penalty	5,655,280.00
Total Demand	112,372,237.00

Company's Response Strategy

ICICI Prudential Life Insurance plans to file an appeal against the order before the appropriate authority within the prescribed timelines as mandated by GST regulations. The company has stated that there is no impact at this stage.

Regulatory Compliance

The disclosure has been made in compliance with Regulation 30 and Regulation 51 read with Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided the required disclosure under Regulation 30(13) of the SEBI Listing Regulations.

Financial Impact Analysis

The total financial implication of ₹112.37 crores represents a significant increase from the previously reported amount. The breakdown shows:

Component	Percentage of Total
GST Component	50.35%
Interest Charges	44.64%
Penalty Component	5.03%

The company has stated that the information and details provided in compliance with Regulation 30(13) of the SEBI Listing Regulations are true, correct, and complete to the best of their knowledge and belief.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.71%	+0.81%	+5.82%	+1.23%	+1.36%	+31.17%

ICICI Prudential Life Insurance Company Limited has announced the allotment of equity shares under its employee stock option and unit schemes. The allotment was completed on December 23, 2025, at 11:50 a.m. IST, as communicated to the stock exchanges through an official notification.

Share Allotment Details

The company allotted a total of 161,107 equity shares across two different employee schemes. The breakdown of the allotment is presented in the following table:

Scheme:	Shares Allotted	Face Value per Share
Employee Stock Option Scheme (2005):	141,920	₹10.00
Employee Stock Unit Scheme (2023):	19,187	₹10.00
Total Shares Allotted:	161,107	₹10.00

Scheme Information

The allotment covers shares under two distinct employee benefit schemes operated by the company. The Employee Stock Option Scheme (2005) represents the larger portion of the allotment, accounting for approximately 88% of the total shares issued. The newer Employee Stock Unit Scheme (2023) contributed the remaining shares to the allotment.

Regulatory Compliance

The company has fulfilled its regulatory obligations by notifying both major stock exchanges about this corporate action. The communication was sent to the General Manager of the Listing Department at BSE Limited and the Vice President of the Listing Department at National Stock Exchange of India Limited. This notification ensures transparency and keeps all stakeholders informed about the share allotment under the employee benefit schemes.

Corporate Details

The allotment was executed under the authority of Company Secretary Priya Nair (ACS 17769), who signed the official communication to the stock exchanges. The company maintains its registered office at ICICI PruLife Towers, Prabhadevi, Mumbai, and continues to operate its employee stock schemes as part of its human resource management strategy.