ICICI Bank has received approval from the Reserve Bank of India (RBI) to acquire 100% shareholding in ICICI Prudential Pension Funds Management Company Limited (ICICI PFM). This acquisition will make ICICI PFM a wholly owned subsidiary of ICICI Bank. The approval is subject to certain conditions, including clearance from Pension Fund Regulatory and Development Authority. The initial disclosure regarding this acquisition was filed on July 19, 2025.
RBI Approves Pension Fund Acquisition
ICICI Bank announced that the Reserve Bank of India (RBI) has approved the proposed acquisition of 100% shareholding in ICICI Prudential Pension Funds Management Company Limited (ICICI PFM). This will result in ICICI PFM becoming a wholly owned subsidiary of ICICI Bank. The bank received the approval on November 27, 2025.
Details of the Acquisition
The acquisition, initially disclosed on July 19, 2025, aims to bring ICICI Prudential Pension Funds Management Company Limited (ICICI PFM) fully under ICICI Bank’s ownership, strengthening its position in the financial services sector. The approval is subject to certain conditions including clearance from Pension Fund Regulatory and Development Authority.
Source: BSE
