Stocks to watch: When trading resumes on Dalal Street on Monday, shares of Life Insurance Corporation (LIC) of India and ICICI Bank will be on the radar of Indian stock market investors. The reason for this is the big acquisition update. The Reserve Bank of India (RBI) has approved LIC’s acquisition of up to a 9.99% stake in ICICI Bank within one year of the RBI’s approval letter. ICICI Bank informed of the acquisition update in an exchange filing on Saturday, following receipt of the RBI letter late on Friday evening.
ICICI informed the Indian stock market exchanges about the RBI approval letter on Saturday, saying, “On September 4, 2026 at 9:09 PM, ICICI Bank Limited (the Bank) has received a copy of Reserve Bank of India (RBI ) letter dated the same day addressed to Life Insurance Corporation of India (the applicant) that it has accorded its approval to the applicant to acquire ‘aggregate holding’ of up to 9.9 9% of the paid -up share capital or voting rights in the Bank within one year from the date of RBI approval letter, failing which RBI approval shall stand cancelled. The approval is subject to certain conditions, including compliance with the relevant statutory and regulatory provisions.
ICICI Bank shareholding pattern for Q1FY27
According to the shareholding pattern of ICICI Bank for the April to June 2026 quarter, LIC holds 31,18,17,010 ICICI Bank shares, accounting for 4.35% of the private lender’s net paid-up capital. This is more than half of the net stake owned by the insurance companies in ICICI Bank.
By the June 2026 quarter, insurance companies owned 8.24% stake in ICICI Bank. Another major insurance company that holds a stake in ICICI Bank is SBI Life Insurance Company Ltd. SBI Life Insurance Company holds a 1.43% stake in ICICI Bank.
ICICI Bank is mutual funds’ favourite
ICICI Bank is mutual funds’ favourite as well. By the end of the June 2026 quarter, mutual funds hold 29.60% stake in ICICI Bank. Axis Mutual Fund, SBI Mutual Fund, UTI Mutual Fund, Nippon Life India Mutual Fund, Kotak Mutual Fund, HDFC Mutual Fund, Aditya Birla Sun Life Mutual Fund, and ICICI Prudential Mutual Fund are among the major stakeholders in the ICICI Bank. SBI Mutual Fund leads the tally by holding 6.27% stake in the private lender, followed by ICICI Prudential Mutual Fund (4.40%), HDFC Mutual Fund (3.58%), and Nippon Life India Mutual Fund (2.55%).
On Friday, the LIC share price closed at ₹416.50 on the NSE, while the ICICI Bank share price closed at ₹1,423.70 apiece.
