The Reserve Bank of India (RBI) authorized Life Insurance Corporation of India (LIC) to increase its stake in ICICI Bank. LIC received permission to hold up to 9.99% of the bank's total paid-up share capital or voting rights.
ICICI Bank confirmed receipt of the regulatory notification on the evening of September 4, 2026. The approval remains valid for one year for LIC to complete the acquisition.
LIC reported a 4.35% existing stake in the lender as of the June 2026 quarter. Shares of both companies will be in focus when the stock market resumes trading.