IBN · ICICI Bank Limited

ICICI Bank Limited disclosed that on May 6, 2026, it received a copy of a letter from the Reserve Bank of India (RBI) addressed to HDFC Bank Limited, granting approval for HDFC Bank to acquire an aggregate holding of up to 9.95% of the paid-up share capital or voting rights in ICICI Bank. The approval is valid for one year from the date of the RBI letter, failing which it will stand cancelled. The approval is subject to certain conditions, including compliance with relevant statutory and regulatory provisions. This development represents a significant potential change in ICICI Bank's shareholder structure, as HDFC Bank is a major competitor in the Indian banking sector. The acquisition, if executed, could lead to strategic implications for both banks, though the specific rationale and terms beyond the disclosed percentage have not been provided. Investors should monitor further disclosures regarding HDFC Bank's intentions and any regulatory updates.