ICICI Prudential Life Insurance has received Reserve Bank of India approval for the sale of its pension funds management company to ICICI Bank. This approval, received on November 27, 2025, is subject to specific conditions, including clearance from pension fund regulatory bodies. The sale involves 100% of the equity shareholding and follows the initial intimation made on July 19, 2025.
Pension Fund Sale Receives Bank Approval
ICICI Prudential Life Insurance has received key approval for the sale of its entire stake in ICICI Prudential Pension Funds Management Company to ICICI Bank. The announcement confirms that the Reserve Bank of India (RBI) has granted its approval via a letter dated November 27, 2025.
Details of the Transaction
The sale involves 100% of ICICI Prudential’s equity shareholding in its Pension Funds Management Company. This decision, initially disclosed on July 19, 2025, is now progressing towards completion, pending final regulatory clearances.
Conditions for Finalization
The RBI’s approval is subject to certain conditions, including clearance from Pension Fund Regulatory and Development Authority. Once these conditions are met, the sale to ICICI Bank can be finalized, marking a significant development for both entities.
Source: BSE