Reserve Bank of India (RBI) Approves LIC's Acquisition of Up to 9.99% Stake in ICICI Bank

Key facts

• Life Insurance Corporation of India (LIC) received Reserve Bank of India (RBI) approval to acquire up to 9.99% of ICICI Bank's paid-up share capital or voting rights within one year.
• ICICI Bank received the RBI approval letter dated September 4, 2026, at 9:09 pm on the same day.
• The RBI approval for LIC's ICICI Bank stake will lapse if not exercised within one year from the date of the approval letter.
• The acquisition is subject to applicable statutory and regulatory requirements.
• LIC had earlier received RBI approval to raise its stake in HDFC Bank to up to 9.99%.
• LIC holds 4.11% of HDFC Bank's total share capital, according to an HDFC Bank regulatory filing.
• LIC shares last closed at Rs 415.35, down 0.37%.