4 hrs ago

RBI Approves LIC To Raise ICICI Bank Stake To 9.99%

The Reserve Bank of India has allowed LIC to buy more shares in ICICI Bank.

LIC may acquire up to 9.99% of the bank’s shares or voting rights.

This permission does not mean LIC has already bought that amount.

LIC has one year from the RBI’s approval letter to complete the purchase.

If it does not buy the stake within that period, the permission will expire.

Any purchase must follow banking laws and RBI rules.

LIC’s reported stake in ICICI Bank was 4.35% in the June 2026 quarter.

The RBI recently gave LIC similar permission involving HDFC Bank.

Key facts

Maximum permitted holding: Up to 9.99% of ICICI Bank’s paid-up share capital or voting rights.
Approval authority: Reserve Bank of India.
Approval date: The RBI approval letter was dated September 4.
Acquisition window: LIC has one year from the approval date to acquire the stake.
Current LIC holding: LIC held 4.35% of ICICI Bank as of the June 2026 quarter, according to one report.
Approval status: The clearance does not confirm that LIC has already increased its holding to 9.99%.
Regulatory conditions: Any acquisition must comply with applicable statutory provisions, regulatory requirements and RBI conditions.
Related approval: The RBI also cleared LIC to acquire up to 9.99% of HDFC Bank.

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