ICICI Prudential Life Insurance Company Limited — Important, 09-12-2024: General Updates

The Executive Committee of ICICI Prudential Life Insurance Company has approved the terms for the issuance of non-convertible debentures (NCDs) totaling up to ₹14 billion. This issuance includes a base size of ₹12 billion and an option for oversubscription of ₹2 billion, structured as subordinated debt instruments. The NCDs will be issued over a span of 10 years in one or more tranches on a private placement basis, with the option to call the debt after five years. The proposed debentures are set to be listed on the Wholesale Debt Market segment of the National Stock Exchange. Further details, including the coupon rate, will be shared in due course. This move underlines the company's strategy for capital management while providing a potential opportunity for investors.