ICICI Prudential Life Insurance has successfully allotted 1,19,500 unsecured, subordinated, listed, rated, redeemable, non-cumulative, fully paid-up, taxable, non-convertible debentures, each with a face value of ₹1,00,000, aggregating to ₹11.95 billion. This follows their intimation dated September 12, 2025 and November 24, 2025. The allotment was made on a private placement basis to identified investors.
Debenture Allotment Details
ICICI Prudential Life Insurance has announced the allotment of unsecured, subordinated, listed, rated, redeemable, non-cumulative, fully paid-up, taxable, non-convertible debentures. The total allotment amounts to ₹11.95 billion, comprising 1,19,500 debentures with a face value of ₹1,00,000 each.
Issue Oversubscription and Finalization
The debenture issue, with a base size of ₹11 billion, was oversubscribed. The company received bids totaling ₹25.73 billion, which included bids received at a premium. The company has finalized and accepted bids for debentures with a face value of ₹11.95 billion.
Key Terms of the Debentures
The debentures have a tenure of 10 years from the deemed date of allotment, which is November 28, 2025. The maturity date is November 28, 2035, subject to the company’s option to exercise a call option at the end of the 5th year and every year thereafter. The coupon rate is 7.69% per annum.
Interest Payment Schedule
Interest on the debentures will be paid annually. There are specific conditions under which the company may not be liable to pay the coupon, including if payment is prohibited by IRDAI regulations or if the company’s solvency margin falls below the control level.
Redemption Details
The debentures shall be redeemed at par 10 years from the Deemed Date of Allotment, subject to the exercise of any Call Option by the Issuer at the end of 5 (five) years and every year thereafter. The Redemption Amount is INR 1,00,000 (Rupees One Lakh only) per Debenture on the Redemption Date plus accrued Coupon.
Source: BSE