Shareholding18 May 2026, 07:46 am
ICICI Bank: Prudential to Reduce Stake in ICICI Prudential Life
AI Summary
ICICI Bank announced that Prudential Corporation Holdings Limited, a promoter of ICICI Prudential Life Insurance, will reduce its shareholding to under 10% from the current 21.91% due to Prudential's acquisition of a 75% stake in Bharti Life Insurance. This move is subject to regulatory approvals. ICICI Bank intends to retain its majority shareholding in ICICI Prudential Life Insurance. Prudential has entered into share purchase agreements with Bharti Life Ventures Private Limited, Bharti Life Insurance Company Limited, and 360 One Private Equity Funds to facilitate the transaction.
Key Highlights
- Prudential to acquire 75% stake in Bharti Life Insurance.
- Regulatory approvals will require Prudential to reduce its stake in ICICI Prudential Life to under 10%.
- ICICI Bank intends to maintain its majority shareholding in ICICI Prudential Life.
- Prudential is engaging with regulatory authorities to determine the divestment timeframe.
- The transaction involves share purchase agreements with Bharti Life and 360 One Private Equity Funds.