ICICI Bank Takes 2% More In Life Insurance Arm For ₹1,470 Crore
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ICICI Bank has acquired an additional 2% stake in ICICI Prudential Life for around ₹1,470 crore, taking its holding in the insurer to nearly 52.8%. Separately, the bank reported $17.88 billion in FCNR(B) mobilisation as of 31 August.
ICICI Bank has bought another 2% stake in ICICI Prudential Life Insurance Company for around ₹1,470 crore. The bank acquired 29,015,693 shares through stock exchanges. The shares account for around 2% of ICICI Prudential Life's equity capital as of 30 June 2026.
The purchases were made in multiple tranches between 22 July and 2 September. ICICI Bank had already disclosed its intention to increase its stake in the subsidiary by up to 2%, with similar announcements made on 28 February and 24 June.
ICICI Prudential Life shares finished Wednesday at ₹499.5 on the National Stock Exchange (NSE), up 0.82%, from the previous close.
Bank's Holding Rises To 52.8%
The latest transaction takes ICICI Bank's ownership in the life insurance business to about 52.8%. The bank has been gradually increasing its stake in ICICI Prudential Life through purchases from the market.
The acquisition was carried out through the stock exchange mechanism rather than a separate negotiated transaction.
ICICI Bank Mobilises $17.88 Billion Under FCNR(B) Facility
In a separate disclosure, ICICI Bank said its gross mobilisation under the Reserve Bank of India's swap facility for FCNR(B) deposits had reached around $17.88 billion as of 31 August. At the exchange rate used by the bank, this works out to about ₹1.70 lakh crore.
Of this amount, loans extended by the bank's international branches and subsidiaries against the deposits stood at roughly $9 billion, or ₹85,600 crore.
ICICI Bank also said standby letters of credit worth around $3.63 billion had been issued to other banks in connection with loans against these deposits. This is equivalent to about ₹34,600 crore.
The bank further disclosed that it had raised around $3.55 billion through US dollar-denominated bonds during July and August 2026.
The rupee values for the dollar-denominated amounts are provided for convenience based on the exchange rate prevailing on 31 August 2026.
Also Read - Stock Market Update 3 September 2026
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Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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