ICICI Bank completes acquisition of 2% stake in ICICI Prudential Life for ₹1,470 crore; all you need to know

The Bank, in a regulatory filing in evening on September 2, said that it completed acquiring 29,015,693 equity shares, with a face value of ₹10 each of ICICI Prudential Life Insurance Company, represting 2% of the latter’s equity share capital at June 30, 2026.

ICICI Bank completed the purchase through multiple tranches executed between July 22, 2026 and September 2, 2026, for an approximate consideration of ₹1,470 crore (or ₹14.70 billion), via the stock exchange mechanism.

Following this, the Bank’s shareholding in ICICI Prudential Life Insurance Company stands at approximately 52.8%.

ICICI Prudentail Life Insurance Company is a joint venture company between ICICI Bank and Prudential Corporation Holdings Limited.

ICICI Bank mobilises $17.88 bn through FCNR(B) deposits

In a separate filing dated September 2, the Bank said it mobilised around $17.88 billion (about ₹1.70 lakh crore) through FCNR(B) deposits under the Reserve Bank of India's special swap facility that closed for fresh deposits on August 31.

The bank further stated that loans provided by its international branches and subsidiaries against such deposits amounted to around $9 billion (₹85,600 crore).

ICICI Bank also said standby letters of credit issued to other banks in respect of loans against these deposits would amount to around $3.63 billion (₹34,600 crore).

The bank issued around $3.55 billion (₹33,800 crore) of US dollar-denominated bonds during July and August 2026, it said.

The figures are provisional and unaudited, ICICI Bank added.

ICICI Bank Q1 results

ICICI Bank recorded a 16% year-on-year (YoY) growth in its standalone net profit for the first quarter of the 2026-27 (Q1 FY27) at ₹14,804 crore, compared with ₹12,768 crore in the same period last year.

The standalone financial statements further showed that the company’s net interest income (NII) advanced 6.3% to ₹45,670 crore in the June quarter, compared year-on-year with ₹42,964 crore in the same period a year earlier.

On a sequential basis, the interest income rose 5.5% from its 43,275 crore level in the fourth quarter of FY2025-2026.

ICICI Bank stock performance

Shares of ICICI Bank closed 0.80% lower at ₹1,426.50 per unit on the National Stock Exchange (NSE) on Wednesday, September 2. However, the acquisition completion was announced after the market closed.

The scrip has lost nearly 1% over the month but gained 7% on a year-to-date (YTD) basis. While the stock hit a 52-week high of ₹1,480 per equity share on July 20, 2026, it touched a year’s low of ₹1,187.60 apiece on April 2, 2026.

ICICI Bank has a total market capitalisation of ₹10.24 lakh crore as of September 2, 2026, according to data on the NSE.