ICICI Bank Ltd.

ICICI Bank has bought an additional 25.14 lakh shares of ICICI Lombard General Insurance for Rs 431 crore. With the latest purchase of shares, ICICI Lombard has become a subsidiary of the bank. 

The move follows a May 2023 resolution by the bank's board to increase the bank's holding ICICI Lombard by another 4 per cent in multiple tranches. It had also secured nods from the banking and insurance watchdogs to go ahead with the plan to increase the holdings. 

ICICI Bank is a leading private sector bank in India.