NEWS
RBI gives nod to ICICI Pru to buy up to 9.95% stake in IDFC First Bank
ICICI Prudential AMC had applied to the RBI for seeking its prior approval to acquire up to 9.95% paid-up share capital of IDFC First Bank.
ICICI Prudential AMC had applied to the RBI for seeking its prior approval to acquire up to 9.95% paid-up share capital of IDFC First Bank.
IDFC First Bank has received regulatory approval from the Reserve Bank of India (RBI) allowing ICICI Prudential Asset Management Company, along with entities within the ICICI Bank group, to acquire an aggregate stake of up to 9.95% of the bank’s paid-up share capital or voting rights.
ICICI Prudential AMC has to ensure that the aggregate holding does not exceed 9.95% stake in the bank.
The RBI’s approval will stand cancelled if ICICI Prudential AMC fails to acquire major shareholding within one year.
ICICI Prudential AMC had applied to the RBI for seeking its prior approval to acquire up to 9.95% paid-up share capital of IDFC First Bank.
