ICICI Prudential Life Insurance has received approval from board of directors to issue debt instruments in the nature of 12,000 rated, listed, subordinated, redeemable, taxable, unsecured, fully paid-up, non-cumulative, non-convertible debentures (NCDs) having a face value of Rs 10 lakh aggregating to Rs 12 billion (Rs 1,200 crore) on private placement basis.
The fund raise plan was approved at the meeting of the strategy committee of the company held on October 29, 2020.
ICICI Prudential Life Insurance Company offers a range of products to cater to the specific needs of customers in different life stages, enabling them to meet their long-term savings and protection needs.
