LIC cuts stake in ICICI Bank to below 5% after market sale

Mumbai: Life Insurance Corporation of India (LIC) has reduced its shareholding in ICICI Bank Ltd to below the 5% threshold following a series of market transactions, according to a regulatory disclosure filed under SEBI’s Substantial Acquisition of Shares and Takeovers (SAST) Regulations, 2011.

The state-owned insurer sold 12.70 crore shares of ICICI Bank through market sales, lowering its holding from 6.737% to 4.731% of the bank’s paid-up equity capital.

Before the sale, LIC held 46.51 crore shares of ICICI Bank, representing 6.737% of the total voting capital. After the disposal, its holding stands at 33.81 crore shares, equivalent to 4.731%. The transactions were carried out between December 24, 2020, and January 13, 2026, the disclosure said.

LIC clarified that it does not belong to the promoter or promoter group of ICICI Bank. The shares of the private sector lender are listed on both the NSE and BSE.

The total equity share capital of ICICI Bank remains unchanged at 14,287.41 crore shares following the transaction.

Under SEBI regulations, shareholders are required to disclose acquisitions or disposals when their holding crosses specified thresholds, including the 5% mark.