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 compliance with certain conditions.
PFM Acquisition Gains Approval
ICICI Bank announced that it has received the necessary approvals to proceed with the acquisition of ICICI Prudential Pension Funds Management Company Limited (ICICI PFM). The approval was granted on January 5, 2026.
Details of the Acquisition
The acquisition will result in ICICI Bank holding 100% of the shares of ICICI PFM, turning it into a wholly-owned subsidiary. This move is strategic and aims to consolidate ICICI Bank’s position in the financial services sector. The effective date of this change is subject to certain compliance requirements. The initial announcement of the proposed acquisition was made on July 19, 2025, and November 28, 2025.
Source: BSE
