Acquisitions11 Feb 2026, 07:14 pm
RBI Approves ICICI Prudential AMC's 9.95% Stake Acquisition in IDFC First Bank
AI Summary
The Reserve Bank of India (RBI) has granted its approval to ICICI Prudential Asset Management Company Limited (Applicant) and group entities of ICICI Bank Limited to acquire up to 9.95% of the paid-up share capital or voting rights of IDFC FIRST Bank Limited. The approval is subject to certain conditions and compliance with relevant provisions of various acts, directions, regulations, and guidelines. The Applicant is required to acquire the major shareholding within a year from the date of the RBI letter, and the 'aggregate holding' in the Bank should not exceed 9.95% at all times.
Key Highlights
- RBI approves ICICI Prudential AMC's 9.95% stake acquisition in IDFC First Bank
- Approval subject to certain conditions and compliance with various acts, directions, regulations, and guidelines
- Applicant required to acquire major shareholding within a year from the date of RBI letter
- Aggregate holding in the Bank should not exceed 9.95% at all times
- RBI approval may be cancelled if major shareholding not acquired within a year