ICICI Prudential AMC Gets RBI Nod for Bank Share Acquisition

ICICI Prudential Asset Management Company Limited has received approval from the Reserve Bank of India (RBI) to acquire up to 9.95% of the paid-up equity capital or voting rights in four specified banking companies: CSB Bank Limited, DCB Bank Limited, Kotak Mahindra Bank Limited, and AU Small Finance Bank Limited. These approvals are granted under the RBI's Master Direction on Acquisition and Holding of Shares or Voting Rights in Commercial Banks. The acquisitions will be undertaken by the AMC as an investment manager on behalf of various schemes of ICICI Prudential Mutual Fund, Alternative Investment Funds, and clients of its Portfolio Management Services. The approvals are subject to compliance with relevant statutory and regulatory provisions.