Key Quantitative Figures
The Bank has received approval to purchase up to 2.0% additional shareholding in ICICI Prudential Life Insurance Company Limited (ICICI Life).
Dates of Action and Approval
- Initial disclosure of the proposed purchase was made on February 28, 2026
- Reserve Bank of India approval was granted on June 24, 2026
- The disclosure letter was signed and dated June 24, 2026 at 20:31:50 IST
Parties Involved
- ICICI Bank Limited (the acquiring entity)
- ICICI Prudential Life Insurance Company Limited (the subsidiary)
- Reserve Bank of India (regulatory authority granting approval)
- Prachiti Deepak Lalingkar, Company Secretary (signatory for ICICI Bank)
Purpose and Rationale
The additional share purchase is intended to maintain ICICI Bank's shareholding in ICICI Prudential Life Insurance Company Limited above 50%.
Conditions and Compliance
The RBI approval is subject to compliance with certain conditions, though the specific conditions are not detailed in this disclosure.
Additional Recipients
The disclosure was also sent to:
- New York Stock Exchange (NYSE)
- SIX Swiss Exchange Ltd.
- Singapore Stock Exchange
- Japan Securities Dealers Association
#Tags: #ICICIBank #ICICIPrudentialLife #RBIApproval #SEBIDisclosure #RegulatoryCompliance