ICICI Bank Gets RBI Approval for 100% Acquisition of ICICI Prudential Pension Funds Management Company

ICICI Bank has advanced its strategy to strengthen its pension fund business after receiving regulatory approval from the Reserve Bank of India (RBI) for the proposed acquisition of ICICI Prudential Pension Funds Management Company Limited (ICICI PFM). This follows a prior disclosure made on July 19, 2025. 

Key Development - RBI Approval Granted 

The bank stated that RBI, through a letter dated November 27, 2025, and received at 6:10 p.m., granted approval for the acquisition of 100% shareholding in ICICI PFM from ICICI Prudential Life Insurance Company Limited (ICICI Life). Upon completion, ICICI PFM will become a wholly owned subsidiary of ICICI Bank. 

Statements & Regulatory Conditions 

The approval from RBI comes with certain conditions, including the requirement for clearance from the Pension Fund Regulatory and Development Authority (PFRDA). The disclosure falls under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. 

Read More: ICICI Prudential AMC IPO Gets SEBI Approval; ₹10,000 Crore Issue to Launch in December! 

ICICI Bank Share Performance  

As of December 01, 2025, at 11:36 AM, ICICI Bank share price is trading at ₹1,396.50 per share, reflecting a surge of 0.55% from the previous closing price.  

Conclusion 

The RBI’s approval marks a critical milestone for ICICI Bank, signalling regulatory confidence in the acquisition and enabling the bank to move closer to consolidating its position in the pension fund sector. With PFRDA approval now the remaining key step, the transaction is positioned to align with ICICI Bank’s broader strategic ambitions. 

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