ICICI Lombard General Insurance Company Limited has informed the Exchange about General Updates

ICICIGI · price

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Price reaction · full curve 14 horizons · vs prior close

-1.3%1-day move

₹1771.60

prior close

₹1746.90

base price

In-mkt

timing

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AI summary

ICICI Lombard has received an appellate order from the Commissioner of GST & Central Excise (Appeals - I), Chennai dated April 29, 2026. The order revised an earlier GST demand, reducing the interest liability from ₹14.94 crore to ₹72.45 lakh and penalty from ₹5.76 crore to ₹3.06 crore for the period April 2018 to May 2019. The company had filed an appeal against the original April 2024 order and will now evaluate further legal options including another appeal against this revised order. The company states there is no impact at this stage as the matter is sub-judice.

Likely market impact

While the revised penalty and interest are lower than the original demand (total now around ₹3.78 crore versus ₹20.70 crore earlier), the company still faces a significant contingent liability. The ongoing legal process means no immediate cash outflow, but resolution may affect future earnings if the appeal fails.