l Life Insurance Company Limited declined by up to 4% in intraday trade today following a CNBC-TV18 report indicating that UK-based Prudential Plc is exploring an exit from its long-standing joint venture. According to sources cited by the channel, Prudential Corp — which holds a 21.93% stake in the Indian life insurer — is considering selling its entire equity holding through a block deal or an Offer for Sale (OFS). The stake is valued at approximately ₹18,500 crore, based on current market levels. ICICI Bank remains the majority promoter with a 50.95% stake. The sell-off reflects investor concerns over potential large-scale share supply and uncertainties regarding the JV's future structure. Market cap of ICICI Prudential Life stands around ₹85,000 crore. However, the company has denied any confirmed exit plans in some reports, calling the buzz speculative. This development comes after Prudential's recent divestments in related Indian ventures, including stakes in ICICI Prudential Asset Management ahead of its IPO. Analysts are watching for any official announcements or regulatory filings that could clarify the situation and impact sentiment in the insurance sector.

#WatchOutFor#StockInNews

877 likes·83 comments