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Our Bureau

Ms Shikha Sharma

Mumbai , Jan 8

ICICI Prudential Life Insurance has hiked its capital base by Rs 230 crore to Rs 1,815 crore. This is the third equity infusion this fiscal and the total increase this year has been Rs 630 crore.

The two partners, ICICI Bank and Prudential Plc, have contributed to the capital infusion based on their 74:26 per cent equity stake respectively.

Ms Shikha Sharma, Managing Director, ICICI Prudential, said the fast-paced growth of the company had necessitated the infusion.

Ms Sharma said given the current growth momentum, break even is one to two years away. She said that once the FDI hike to 49 per cent was approved, the company could look at going in for an initial public offering.

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