Prudential Financial

The fund house is a joint venture between ICICI Bank, India's second-largest private lender, which holds 51 per cent, and Prudential, which owns the rest

Prudential Group Holdings Ltd, UK Subsidiary of Prudential Plc will own 70 per cent stake in the venture while Vama will hold the remaining 30 per cent

Wadhwani will take on the CEO role next February and be based in Hong Kong, the company said in a statement Wednesday.

No cash will change hands and TCS will take on more than 1,500 Pramerica employees.

Stake has been increased to the maximum limit allowed under FDI regulations