ICICI Prudential Life Insurance Company Limited has finalized the sale of its entire 100% equity shareholding in ICICI Prudential Pension Funds Management Company Limited (ICICI PFM) to ICICI Bank Limited. The Share Purchase Agreement (SPA) was executed today, January 12, 2026, at 11:49 a.m., with all subsequent formalities completed. As a result of this transaction, ICICI PFM has now become a wholly owned subsidiary of ICICI Bank. The cash consideration for this sale is ₹2.035 billion (₹203.5 crore), based on a valuation by an independent valuer. ICICI Bank currently holds a 50.95% stake in ICICI Prudential Life Insurance Company Limited as of December 31, 2025. The company will withdraw its nominee directors from the board of ICICI PFM following the completion of this sale transaction. This transaction falls under related party transactions, and it has been conducted at an arm's length. The company had previously intimated about this potential sale on July 19, 2025, November 28, 2025, and January 6, 2026.
