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RBI Approves LIC to Buy Up to 9.99% of ICICI Bank

Life Insurance Corporation of India (LIC) logoLife Insurance Corporation of India (LIC)
Sig2.88Sen+3.55Env0.00Soc0.00Gov+1.65
ICICI Bank logoICICI Bank
Sig2.68Sen+1.23Env0.00Soc0.00Gov+1.63

The RBI has approved Life Insurance Corporation of India to acquire up to a 9.99% stake in ICICI Bank within one year of receiving the approval letter. ICICI Bank disclosed the update in an exchange filing after the RBI letter arrived on Friday. LIC already holds 4.35% through 31,18,17,010 shares, with insurance firms totaling 8.24% by June 2026.

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