The Bank has received a copy from the RBI letter dated the same day addressed to HDFC Bank Limited (the applicant) that is has accorded its approval to the applicant to acquire aggregate ....
ICICIBANK · price
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ICICI Bank has disclosed that RBI has approved HDFC Bank Limited to acquire an aggregate holding of up to 9.95% of ICICI Bank's paid-up share capital or voting rights. The approval was conveyed via RBI letter dated May 6, 2026, which ICICI Bank received on May 7, 2026. HDFC Bank must complete the acquisition within one year from the RBI approval date, or the approval will stand cancelled. The approval is subject to conditions including compliance with relevant statutory and regulatory provisions.
This indicates HDFC Bank is building a significant stake in ICICI Bank approaching the 10% regulatory threshold, which may trigger further disclosure and open offer obligations as the stake grows. This represents a notable change in ICICI Bank's ownership structure.