DCB Bank has received approval from the Reserve Bank of India (RBI) for ICICI Prudential Asset Management Company Limited to acquire an aggregate holding of up to 9.95% of the paid-up share capital or voting rights in the bank. This approval is subject to certain conditions and must be acted upon within one year. The applicant must also ensure the aggregate holding never exceeds the approved limit.
RBI Greenlights Stake Acquisition
DCB Bank announced today that it has received an intimation from the Reserve Bank of India (RBI) regarding an approval granted to ICICI Prudential Asset Management Company Limited. The approval permits the Applicant to acquire an aggregate holding of up to 9.95% of the paid-up share capital or voting rights in DCB Bank Limited.
This development, dated September 8, 2026, follows an application made by the Applicant to the RBI. The approval is a significant step for ICICI Prudential Asset Management Company in increasing its stake in DCB Bank.
Conditions and Compliance
The approval from the RBI is accompanied by several conditions. These include strict compliance with the relevant provisions of the Banking Regulation Act, 1949, and the Reserve Bank of India (Commercial Banks – Acquisition and Holding of Shares or Voting Rights) Directions, 2025. Additionally, adherence to the Foreign Exchange Management Act, 1999, and regulations issued by the Securities and Exchange Board of India, among other applicable statutes and guidelines, is mandatory.
A crucial condition is that if the Applicant fails to acquire the major shareholding within a period of one year from the date of the RBI’s letter, the approval will be considered cancelled. Furthermore, the Applicant is required to ensure that its aggregate holding in DCB Bank does not exceed the approved 9.95% limit at any given time.
Source: BSE
