InvestmentMay 7, 2026, 07:32 AM
HDFC Bank Approved to Acquire Up to 9.95% Stake in ICICI Bank
AI Summary
ICICI Bank announced that it received approval from the Reserve Bank of India (RBI) for HDFC Bank Limited to acquire an aggregate holding of up to 9.95% of ICICI Bank's paid-up share capital or voting rights. This approval, granted on May 6, 2026, is valid for one year and is contingent upon compliance with relevant statutory and regulatory provisions.
Key Highlights
- RBI approved HDFC Bank to acquire a stake in ICICI Bank.
- HDFC Bank can acquire up to 9.95% of ICICI Bank's share capital or voting rights.
- The approval is valid for one year from May 6, 2026.
- Acquisition is subject to compliance with statutory and regulatory provisions.