Prudential Corporation Holdings Limited has entered into share purchase agreements dated 17 May 2026 to acquire a 75 per cent stake in Bharti Life Insurance Company Limited, subject to receipt of regulatory approvals and satisfaction of customary conditions. The agreements were signed with Bharti Life Ventures Private Limited and certain funds managed by 360 ONE Asset Management. The company disclosed the transaction to stock exchanges through its promoter, noting the material change.

Prudential is a promoter of ICICI Prudential Life Insurance Company Limited and presently holds 21.91 per cent of its equity share capital. Regulatory approvals for the proposed transaction are expected to require Prudential to reduce its shareholding in ICICI Prudential Life to under 10 per cent and to cease to be a promoter in accordance with applicable law. Prudential is engaging with the relevant regulatory authorities and will seek an appropriate timeframe for any divestment in the interests of shareholders.

The initial cash consideration for the transaction is approximately Rs 35 bn, with potential additional consideration payable of up to Rs 7 bn, payable on completion. Prudential has indicated the transaction will be funded from existing resources and that it expects the deal to deliver strategic and financial benefits over time. The company also noted that part of the proceeds from any divestment of ICICI Prudential Life may be used to support future growth in the business.

The move is presented as a strategic repositioning of Prudential's India operations to secure majority ownership of a life insurance business and to enhance management and operational control across product suites and distribution channels. Prudential will seek to leverage Bharti Life's multi-channel model and to pursue strategic distribution arrangements with related businesses, including telecom and asset management partners. The transaction is framed as a response to India's demographic trends, low insurance penetration and long-term growth opportunities.

Regulatory clearances remain a condition precedent and Prudential continues to engage with authorities on timing and compliance matters. The disclosure was filed with the exchanges and the company provided annexures and press material to stakeholders.