ICICI Prudential Life shares in focus as promoter gets RBI nod to raise stake 

Shares of ICICI Prudential Life Insurance are in focus today after private sector lender ICICI Bank said it has received approval from the Reserve Bank of India (RBI) on to buy an additional shareholding of up to 2.0% in its subsidiary ICICI Prudential Life Insurance. 

ICICI Bank held 50.89% stake in ICICI Prudential Life Insurance at the end of March 2026 quarter.  

ICICI Prudential Life Insurance shares ended on flat note at Rs 496.65 on Wednesday against the previous close of Rs 498.40 on BSE. Market cap of the life insurer stood at Rs 72,049 crore. Total 0.32 lakh shares of the firm changed hands amounting to a turnover of Rs 1.59 crore. 

The majority ownership ensures the bank retains management and operational control of the life insurer. 

In May this year, Prudential plc — ICICI Bank’s joint venture partner in ICICI Prudential Life Insurance — said that it plans to reduce its stake in the listed insurer to below 10 per cent after acquiring a 75 per cent stake in Bharti Life Insurance. Current norms do not permit an entity to hold more than a 10 per cent stake in multiple insurance companies.

The stake raise by the lender is aimed to strengthen its control over the life insurer. 

"This is further to the disclosure made by ICICI Bank Limited (‘the Bank’) on February 28, 2026 with regard to purchase of up to 2.0% additional shareholding in its subsidiary, ICICI Prudential Life Insurance Company Limited (‘ICICI Life’) subject to receipt of requisite approvals. Reserve Bank of India has, vide its letter dated June 24, 2026, accorded its approval to the Bank for purchase of additional shareholding of up to 2% in ICICI Life to maintain its shareholding in ICICI Life above 50%, subject to compliance with certain conditions," said ICICI Prudential Life Insurance.