ICICI Bank Limited has completed the acquisition of 100 per cent equity in ICICI Prudential Pension Funds Management Company Limited (ICICI PFM) from ICICI Prudential Life Insurance Company Limited, making the pension fund manager a wholly owned subsidiary of the bank.
The share purchase agreement for the transaction was executed, following which all regulatory and procedural formalities were completed. With this development, ICICI Bank has fully consolidated ICICI PFM under its operations, strengthening its presence in the pension fund and asset management space.
The acquisition had been previously announced by ICICI Bank in July 2025, November 2025 and January 2026. The move is aimed at improving operational control and creating stronger synergies in the pension fund management business, enabling the bank to offer more integrated and comprehensive retirement solutions to its customers.
The transaction also aligns with ICICI Bank’s broader strategy to deepen its footprint in asset management and retirement solutions as part of its integrated financial services offering.
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