ICICI Bank announced the completion of the redemption of all residual units held in the ICICI Strategic Investments Fund (the Fund), managed by its wholly owned subsidiary. Consequently, the Fund will cease to be treated as a Group entity for financial reporting purposes, effective March 25, 2026. This change impacts the consolidation of the Fund’s financials, which were previously merged under Accounting Standard 21.
Change in Group Entity Status
ICICI Bank Limited has disclosed a significant change concerning one of its associated investment vehicles. The announcement, dated March 25, 2026, confirms that all residual units in the ICICI Strategic Investments Fund have been redeemed by the Bank today.
The Fund is managed by ICICI Venture Funds Management Company Limited, which is a wholly owned subsidiary of the Bank. Previously, due to the Bank holding 100% units in the Fund, its financials were being consolidated with the Bank’s statements as per Accounting Standard 21.
Implications of Redemption
Following the complete redemption of these residual units, the Fund now ceases to be a Group entity of ICICI Bank Limited. This action necessitates a change in the Bank’s financial consolidation procedures related to this specific investment vehicle going forward.
The Bank formally requested the stock exchanges and international listing authorities to take this disclosure on record.
Source: BSE
