ICICI Bank has received approval for the acquisition of 100% shareholding in ICICI Prudential Pension Funds Management Company Limited (ICICI PFM). The approval was granted by the Pension Fund Regulatory and Development Authority on January 5, 2026. This acquisition will make ICICI PFM a wholly-owned subsidiary of ICICI Bank, subject to certain compliance conditions. The initial disclosure regarding the proposed acquisition was made on July 19, 2025.
Acquisition Approval Received
ICICI Bank announced that it has received the necessary approval from the Pension Fund Regulatory and Development Authority for its proposed acquisition of ICICI Prudential Pension Funds Management Company Limited (ICICI PFM). This approval was communicated via a letter dated January 5, 2026. With this approval, ICICI Bank is set to proceed with making ICICI PFM a wholly-owned subsidiary.
Details of the Acquisition
The approved transaction involves ICICI Bank acquiring 100% shareholding in ICICI PFM. The initial disclosure regarding the intent to acquire 100% stake in ICICI PFM was made on July 19, 2025, followed by additional disclosures on November 28, 2025. The acquisition is subject to compliance with specific conditions outlined by the regulatory authority. This move is expected to streamline the operations and strategic alignment of ICICI PFM with its parent company.
Source: BSE
