ICICI Lombard General Insurance Company Ltd

ICICI Bank has informed the Company vide their letter dated May 28 2023 that the Board of Directors of ICICI Bank approved an increase in shareholding in the Company in multiple tranches up to 4.0% additional shareholding as permissible under applicable law to ensure compliance with the Section 19(2) of the Banking Regulation Act 1949 and make the Company a subsidiary of ICICI Bank subject to receipt of necessary regulatory approval(s). ICICI Bank would acquire atleast 2.5% stake out of the above 4.0% before September 9 2024.