ICICI Prudential AMC gets RBI nod to acquire up to 9.95% stake in 8 banks
ICICI Prudential AMC received RBI approval to acquire up to 9.95% stake in eight banks, including Bandhan Bank, HDFC Bank, and IDFC First Bank. The acquisitions will be made on behalf of MF schemes, AIFs, and PMS clients. The approval is subject to regulatory compliance.
The acquisition of up to 9.95% in eight different banks represents a significant strategic move for ICICI Prudential AMC, potentially impacting its investment portfolio and market presence. However, the impact is considered medium as it is a passive holding and not a controlling stake.
The RBI approval for acquiring stakes in multiple banks is a positive development for ICICI Prudential AMC, indicating regulatory clearance for strategic investments.
ICICI Prudential Asset Management Company Limited (AMC) has received approval from the Reserve Bank of India (RBI) to acquire an aggregate holding of up to 9.95% of the paid-up equity capital or voting rights in eight different banks. This approval was communicated by ICICI Bank Limited via letters dated February 10, 2026.
The acquisition will be undertaken by the AMC on behalf of various investment schemes, including those of ICICI Prudential Mutual Fund (MF) and Alternative Investment Funds (AIF), as well as for clients of the AMC's Portfolio Management Services (PMS). The affected banks include Bandhan Bank Limited, City Union Bank Limited, Equitas Small Finance Bank Limited, The Federal Bank Limited, HDFC Bank Limited, IDFC First Bank Limited, The Karur Vysya Bank Limited, and RBL Bank Limited.
The RBI's approval is contingent upon compliance with all applicable statutory and regulatory provisions. This development was officially announced on February 11, 2026, at 6:15 p.m.
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ICICI Prudential Asset Management Company Limited filed this with the NSE as a statutory disclosure, categorised under substantial acquisition of shares and takeovers. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by ICICI Prudential Asset Management Company Limited. Read the original for the full detail.