ICICI Bank Limited has successfully completed its acquisition of ICICI Prudential Pension Funds Management Company Limited, marking a significant expansion in the bank's subsidiary portfolio. The transaction was finalized on January 12, 2026, through the execution of a comprehensive share purchase agreement.

Transaction Details

The acquisition involved a complete transfer of shareholding from ICICI Prudential Life Insurance Company Limited to ICICI Bank. The share purchase agreement was executed at precisely 11:49 a.m. on January 12, 2026, with all parties—ICICI Bank, ICICI Life, and ICICI PFM—participating in the formal documentation process.

Regulatory Compliance and Previous Disclosures

The acquisition follows a structured disclosure timeline under SEBI Regulation 30 requirements. ICICI Bank had previously informed the exchanges about the proposed transaction through multiple communications. The bank made initial disclosures on July 19, 2025, followed by subsequent updates on November 28, 2025, and January 6, 2026, ensuring complete transparency throughout the acquisition process.

Corporate Structure Impact

With the completion of all formalities, ICICI Prudential Pension Funds Management Company Limited has officially become a wholly owned subsidiary of ICICI Bank. This structural change strengthens the bank's presence in the pension fund management sector and expands its financial services ecosystem. The transaction represents a strategic consolidation within the ICICI group, bringing pension fund management capabilities directly under the bank's operational umbrella.

Formal Communication and Documentation

The bank communicated the completion through official channels to major stock exchanges, including BSE Limited and National Stock Exchange of India Limited. The formal notification was signed by Vivek Ranjan from the Associate Leadership Team, with digital authentication completed on January 12, 2026. Additionally, the bank informed international exchanges including NYSE, Singapore Stock Exchange, Japan Securities Dealers Association, and SIX Swiss Exchange Ltd., reflecting its global listing presence.

ICICI Bank Limited has announced a change in its board composition with the retirement of Ms. Neelam Dhawan as Independent Director, effective January 11, 2026. The retirement marks the completion of her second term of office as an Independent Director of the bank.

Board Transition Details

The directorate change was formally communicated to regulatory authorities and stock exchanges through an official notification dated January 12, 2026. The communication provides specific details about the transition:

Regulatory Compliance

The bank has fulfilled its disclosure obligations under Regulation 30 by notifying the relevant stock exchanges about this directorate change. The notification was signed by Prachiti Lalingkar, Company Secretary of ICICI Bank Limited, ensuring proper documentation of the board transition.

Exchange Notifications

ICICI Bank has informed multiple stock exchanges about this directorate change, reflecting its global presence and listing status. The notification was sent to:

• BSE Limited (Bombay Stock Exchange)
• National Stock Exchange of India Limited (NSE)
• New York Stock Exchange (NYSE)
• Singapore Stock Exchange
• Japan Securities Dealers Association
• SIX Swiss Exchange Ltd.

This comprehensive notification approach ensures transparency across all markets where ICICI Bank securities are traded, maintaining compliance with international disclosure standards.