ICICI Prudential Asset Management Company Limited has received approval from the Reserve Bank of India (RBI) to acquire an aggregate holding of up to 9.95% in the paid-up equity capital or voting rights of four banks. The regulator granted the approvals on September 8, 2026, following applications submitted under the RBI’s Master Direction on acquisition and holding of shares by commercial banks.

The AMC, a subsidiary of ICICI Bank Limited, disclosed the regulatory clearances on September 9, 2026, via intimation under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Banks Covered

The RBI approvals permit the AMC to hold stakes in the following institutions:

• CSB Bank Limited
• DCB Bank Limited
• Kotak Mahindra Bank Limited
• AU Small Finance Bank Limited

The term "aggregate holding" is defined as per the Reserve Bank of India (Commercial Banks - Acquisition and Holding of Shares or Voting Rights) Directions, 2025, dated November 28, 2025. The approvals are subject to compliance with relevant statutory and regulatory provisions.

Investment Vehicle Scope

The AMC will undertake these acquisitions as an investment manager on behalf of specific client categories rather than for its own proprietary account. The eligible investment vehicles include:

• Schemes of ICICI Prudential Mutual Fund (MF), including those under Specialised Investment Fund strategies
• Schemes under Alternative Investment Funds (AIF)
• Clients of the AMC’s Portfolio Management Services (PMS)

This structure allows the asset manager to deploy capital across its regulated fund products while adhering to the specific ownership caps imposed by the central bank.

Prudential Corporation Holdings Limited, a promoter of ICICI Prudential Asset Management , completed the sale of up to 2% of its equity shares in the open market on August 27, 2026, to comply with minimum public shareholding requirements.

Share sale executed to meet regulatory norms

The divestment was carried out to bring the company's public shareholding in line with applicable regulatory requirements under Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957 and Regulation 38 of the SEBI (LODR) Regulations, 2015. The transaction aligns with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026.

The sale involved 9,885,169 equity shares. Upon completion, the aggregate shareholding of the promoters and promoter group reduced from 87.60% to 85.60% of the total issued and paid-up equity share capital.

Both Prudential Corporation Holdings Limited and ICICI Bank Limited have undertaken not to buy any equity shares in the open market on the date of the sale.