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ICICI Bank Buys Additional 2% Stake in ICICI Prudential Life Insurance for Rs 1,470 Crore

4 September 2026National

ICICI Bank Limited acquired an additional 2% stake in ICICI Prudential Life Insurance for Rs 1,470 crore in September 2026 through the stock exchange mechanism, buying 2,90,15,693 equity shares across multiple tranches. The purchase raised the bank's holding from 50.84% to 52.8%. The transaction was necessitated by regulatory requirements: following UK-based Prudential's proposed 75% acquisition of Bharti Life Insurance, Prudential must cut its stake in ICICI Prudential Life to below 10%. ICICI Prudential Life, headquartered in Mumbai, is a joint venture between ICICI Bank and Prudential Corporation Holdings Limited; it began operations in December 2000 and is chaired by Sandeep Batra.

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ICICI Bank was founded in 1994 and is headquartered in Mumbai, Maharashtra | IRDAI, the insurance regulator, was established in 1999 and is headquartered in Hyderabad, Telangana | LIC, established in 1956, is India's largest life insurer and is headquartered in Mumbai

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