ICICI Pru Life to raise up to Rs. 1,200 crore by issuing NCDs

ICICI Prudential Life Insurance said it will raise up to Rs. 1,200 crore by issuing non-convertible debentures (NCDS) on private placement basis. “The Board of Directors has at their meeting held on October 7, 2020 approved raising capital by issuance of subordinated debt instruments in the nature of rated, listed, redeemable, unsecured, fully paid-up, non-cumulative, NCDS up to Rs. 12 billion,” ICICI Prudential Life Insurance Company said.