ICICI Bank Now Sole Owner of ICICI Prudential Pension Fund After 100% Acquisition

ICICI Bank Limited has completed the acquisition of 100% equity in ICICI Prudential Pension Funds Management Company Limited (ICICI PFM) from New Delhi: ICICI Prudential Life Insurance Company Limited, making ICICI PFM a wholly owned subsidiary of the bank.

The share purchase agreement (SPA) was executed on January 12, 2026, at 11:49 a.m., and all necessary formalities have since been completed. With this acquisition, ICICI Bank now consolidates ICICI PFM fully under its operations, strengthening its pension fund and asset management capabilities.

Strategic Significance

ICICI Bank had previously announced the proposed acquisition in July 2025, November 2025, and January 2026. This move is aimed at enhancing control and synergies in the pension fund management business, allowing the bank to streamline operations and offer comprehensive retirement solutions to its clients.

The transaction also reflects ICICI Bank’s strategy of expanding its footprint in the asset management and retirement solutions sector, aligning with its broader vision of integrated financial services.

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Regulatory Filings

The completion of the acquisition has been communicated to the BSE, NSE, and also shared with international exchanges including the NYSE, Singapore Stock Exchange, Japan Securities Dealers Association, and SIX Swiss Exchange Ltd.