ICICI Lombard General Insurance Company has announced the acquisition of shares in HDFC Bank Limited valued at ₹0.39 billion as of 19 March 2026. This investment is part of the company’s ordinary course of investment function.
HDFC Bank, India’s largest private sector bank, has a market capitalisation of ₹12.31 trillion as of 19 March 2026. The acquisition does not constitute a related party transaction, although ICICI Lombard‘s promoter group entities may have business-related transactions with HDFC Bank at arm’s length.
The acquisition was executed in multiple tranches over a period of time, with the latest tranche completed on 19 March 2026. Post-acquisition, ICICI Lombard holds a 0.05% stake in HDFC Bank.
HDFC Bank, incorporated on 30 August 1994, offers a wide range of banking services, including commercial and investment banking on the wholesale side and transactional and branch banking on the retail side. The bank’s turnover for the last three financial years was ₹4,709.16 billion in 2024-25, ₹4,079.94 billion in 2023-24, and ₹2,046.66 billion in 2022-23.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).