ICICI Bank Limited has announced the completion of acquiring an additional 2.00% stake in its subsidiary, ICICI Prudential Life Insurance Company Limited. The transaction involved the purchase of 29,015,693 equity shares for approximately ₹14.70 billion through the stock exchange mechanism. This acquisition brings ICICI Bank’s total shareholding in ICICI Prudential Life to approximately 52.8%.
ICICI Bank Increases Stake in Subsidiary
ICICI Bank Limited has successfully concluded a series of transactions to enhance its shareholding in its subsidiary, ICICI Prudential Life Insurance Company Limited (ICICI Life). This move, executed across multiple tranches between July 22, 2026, and September 2, 2026, signifies a strategic strengthening of the bank’s control over its life insurance arm.
Transaction Details and Impact
The bank acquired 29,015,693 equity shares of ICICI Life, each with a face value of ₹10. This purchase represents approximately 2.00% of ICICI Life’s equity share capital as of June 30, 2026. The total consideration for this acquisition amounted to approximately ₹14.70 billion, executed via the stock exchange. Following this transaction, ICICI Bank’s consolidated shareholding in ICICI Life now stands at approximately 52.8%.
Source: BSE
