ICICI Bank has taken a major step to strengthen its pension fund operations after securing regulatory approval from the Reserve Bank of India (RBI) for acquiring 100% ownership of ICICI Prudential Pension Funds Management Company Limited (ICICI PFM). The move follows an earlier announcement made on July 19, 2025.
Key Details of the Acquisition
- Approval Date: RBI approval received via letter dated November 27, 2025
- Target Company: ICICI Prudential Pension Funds Management Company Limited (ICICI PFM)
- Seller: ICICI Prudential Life Insurance Company Limited (ICICI Life)
- Post-Acquisition Status: ICICI PFM will become a wholly owned subsidiary of ICICI Bank
- Regulatory Conditions: Clearance from the Pension Fund Regulatory and Development Authority (PFRDA) is required to complete the acquisition
The acquisition aligns with ICICI Bank’s strategy to expand its footprint in the pension fund management sector and strengthen its offerings in retirement solutions.
Summary
ICICI Bank has received RBI approval to acquire ICICI Prudential Pension Funds Management Company, which will become a wholly owned subsidiary, subject to PFRDA clearance. This marks a strategic step in expanding the bank’s pension fund business.
Disclaimer:
This article is intended solely for educational and informational purposes. The securities or companies mentioned are provided as examples and should not be considered as recommendations. Nothing contained herein constitutes personal financial advice or investment recommendations. Readers are advised to conduct their own research and consult a qualified financial advisor before making any investment decisions.
Investments in securities markets are subject to market risks. Please read all related documents carefully before investing.