ICICI Prudential Life Insurance Receives Approval for Sale of Entire Stake in Pension Funds Management Company

ICICI Prudential Life Insurance Company Ltd has announced that it has received approval from the Pension Fund Development and Regulatory Authority of India for the sale of its entire 100% equity shareholding in ICICI Prudential Pension Funds Management Company Limited to ICICI Bank Limited. This sale is subject to the approval of other regulatory/statutory authorities, as per applicable regulations. The sale was initially announced in July 2025 and November 2025, and now with this approval, ICICI Bank is set to become the sponsor of ICICI PFM, subject to compliance with certain conditions.