ICICI Bank has completed the acquisition of 29,015,693 equity shares of face value of Rs 10 each, representing around 2% of total shareholding, of ICICI Prudential Life Insurance Company (ICICI Life), a subsidiary of the bank, in multiple tranches. Post this acquisition, the bank’s shareholding in ICICI Life stands at around 52.8%.
The bank has acquired the stake for a consideration of around Rs 1470 crore through the stock exchange mechanism. The shares have been acquired through multiple tranches executed between July 22, 2026 and September 2, 2026.
Earlier on June 24, 2026, Reserve Bank of India had accorded its approval to the bank for purchase of additional shareholding of up to 2% in ICICI Life to maintain its shareholding in ICICI Life above 50%.
ICICI Bank is a large private sector bank in India offering a diversified portfolio of financial products and services to retail, SME and corporate customers.
