New Delhi: ICICI Prudential Life Insurance Co on Tuesday said it has received regulatory approval from the Pension Fund Development and Regulatory Authority (PFRDA) for the sale of its entire 100% equity stake in ICICI Prudential Pension Funds Management Company Ltd to ICICI Bank.
In a regulatory filing, the insurer said the pension fund subsidiary informed it that PFRDA, through a letter dated January 5, 2026, has accorded approval for the transaction and for ICICI Bank to become the sponsor of the pension fund manager, subject to compliance with stipulated conditions.
The development follows earlier disclosures made by ICICI Prudential Life in July and November 2025 regarding the proposed divestment, which was contingent on regulatory and statutory approvals.
The transaction is part of a broader reorganisation within the ICICI Group, aligning pension fund management operations more closely with the banking arm. The company did not disclose financial details of the transaction in the filing.
The update was made under Regulation 30 and Regulation 51 of SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. Market participants will now track completion timelines and any impact on the insurer’s consolidated financials following the change in ownership.