RBI Approves ICICI Bank's Purchase of Up to 2% Additional Shares in ICICI Life
ICICI Bank Limited has received approval from the Reserve Bank of India (RBI) regarding its plans to increase shareholding in its subsidiary, ICICI Prudential Life Insurance Company Limited (ICICI Life).The RBI, through a letter dated June 24, 2026, accorded necessary approval to the bank for the purchase of up to 2% additional shareholding in ICICI Life.
This acquisition is part of the Bank's strategy to manage its stake in the insurance firm and will enable it to maintain its holding in ICICI Life above 50%, subject to certain conditions set by the regulator.
ICICIBANK Stock Price Movement
ICICI Bank Limited shares settled higher today after rallying by 2.59% to close at ₹1373.60, driven by positive market momentum. The stock saw heavy trading during the session, with approximately 16.44 million shares changing hands.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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