ICICI Prudential Asset Management Company Limited (NSEI:ICICIAMC) agreed to acquire an additional 5.88% stake in HDFC Bank Limited (NSEI:HDFCBANK) on February 10, 2026. Upon completion, ICICI Prudential Asset Management Company Limited will hold 9.95% stake in HDFC Bank Limited. The transaction has been approved by the Reserve Bank of India. In a separate transactions, the Reserve Bank of India has approved through different letters for ICICI Prudential Asset Management Company Limited to acquire up to 9.95% stakes in Bandhan Bank Limited, City Union Bank Limited, Equitas Small Finance Bank Limited, Federal Bank Limited, IDFC First Bank Limited, The Karur Vysya Bank Limited and RBL Bank Limited.

In case, if ICICI AMC fails to acquire the aforesaid major shareholding in the Bank within a period of one year from the date of the RBI letter, the approval granted by RBI shall stand cancelled. Further, ICICI (along with its group entities) must ensure that the aggregate holding in the Bank does not exceed 9.95% of the paid-up share capital or voting rights of the Bank at all times. Also, if the aggregate holding of ICICI (along with its group entities) falls below 5% at any point of time, prior approval of RBI will be required to increase it to 5% or more of the paid-up share capital or voting rights of the Bank.