Updated 27 June 2025 at 14:24 IST
ICICI Bank Share Price: Why Is Private Lender's Stock Rising Today? 4 Reasons
ICIC Bank's latest acquisition approval move on June 27, 2025, is aimed at having majority shareholding in ICICI Prudential Asset Management Company
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Shares of ICICI Bank surge 1 per cent after board's approval of raising stake in ICICI Prudential Asset Management. Company. | Image:
ICICI Bank
ICIC Bank Limited's board of directors on Friday, June 27, approved purchase of up to 2.0 per cent additional shareholding in ICICI Prudential Asset Management Company.
The private lender's acquisition move is in line with its intent to retain its majority shareholding in ICICI Prudential Asset Management Company, according to an exchange filing date on February 12, 2025.
The above will be subject to receipt of requisite approvals.
As on Friday, the shares of ICICI Bank Ltd were trading 1.06 per cent higher to hit an intraday high of Rs 1,454.6 apiece
Meanwhile, the Mumbai-headquartered bank has also approved the date for the 31st Annual General Meeting (AGM), of Members of the Bank which will be held on Saturday, August 30, 2025, at 11:00 a.m. IST through Video Conferencing/Other Audio-Visual Means (VC/OAVM) facility.
The notice of the upcoming AGM and Annual Report 2024-25 will be sent only through electronic mode to those members whose email addresses are registered with the Bank/Registrar & Share Transfer Agents of the Bank for equity shares/Depository Participant(s) in due course. The Notice of the AGM and Annual Report 2024-25 will also be made available.
Further, August 12, 2025, has been fixed as the record date for determining the names of Members eligible for dividend on equity shares, if declared at the AGM.
The multinational bank has also informed via an exchange filing of appointment of "M/s. Parikh Parekh & Associates., Company Secretaries as the Secretarial Auditor of the Bank for a term of five consecutive years commencing from FY2026 to FY2030 subject to approval of the shareholders."
Additionally, the bank's board of directors has approved amendment of its ADR deposit agreement, which is subject to approval of Reserve Bank of India (RBI), to grant voting rights pertaining to the Deposited Securities to the registered American Depository Shares (ADS) holders.
As o 2:04 pm, ICICI Bank shares were trading 0.96 per cent higher at Rs 1,453.10 apiece.
Published 27 June 2025 at 14:24 IST