5321742026-07-052026-07-055321742026-07-055321742026-07-052026-07-05PartiesOfTheAgreementDomain15321742026-07-05PartiesOfTheAgreementDomain1xbrli:pureICICI Bank LimitedICICIBANKNewOthersLetter of Undertaking with Prudential Corporation Holdings LimitedExecution of agreementListed Entityfalse2026-07-0415:26:00true2026-07-05ICICI Bank Limited (Bank) has entered into a Letter of Undertaking on July 4, 2026 at 3:26 p.m. with Prudential Corporation Holdings Limited (Prudential) (Undertaking) pertaining to non-exercise of certain rights by Prudential relating to our subsidiary ICICI Prudential Life Insurance Company Limited (Company), subject to approval of the Company’s Board of Directors and/or other statutory/regulatory approvals (to the extent applicable)falsePrudential has entered into definitive agreements on May 17, 2026 with Bharti Life Ventures Private Limited, 360 ONE group and Bharti Life Insurance Company Limited (Bharti Life), pursuant to which Prudential has agreed to acquire a 75% stake in Bharti Life (Proposed Transaction) subject to receipt of applicable regulatory approvals and the satisfaction of certain conditions. To mitigate any potential conflict of interest in the management of the Company pursuant to the Proposed Transaction, the Bank and Prudential have entered into a Letter of Undertaking today.There is no impact on the management or control of the Bank. The impact is on the management of the Company as under: a. Prudential shall abstain from voting on any matters requiring a special resolution, so long as such matter requiring a special resolution does not adversely impact any right or interest of Prudential in the Company. This abstinence shall be effective from the Start Date to the End Date; b. Prudential shall arrange for the resignation of its nominee director on the Board of the Company, with effect from the date on which Company approves the aforementioned reclassification application. Further, Prudential shall not nominate another director on the Board of the Company from the Start Date to the End Date; and c. With effect from the date on which Prudential's reclassification from 'promoter' to 'investor' becomes effective, the Bank shall vote in favour of the appointment / replacement of one director to be nominated by Prudential on the board of the Company, subject to Prudential: (i) holding 10% shareholding in the Company; and (ii) not holding promoter status or more than 10% shareholding in another life insurance company in India.1Prudential Corporation Holdings Limited (Prudential)Counterparties to the agreementBank and Prudential do not hold any shareholding in each other.trueBank and Prudential are joint promoters of ICICI Prudential Life Insurance Company LimitedfalseThe Undertaking does not qualify as a related party transaction since no transfer of resources, services or obligations is taking place between the Bank and Prudential.2026-07-04Prudential has entered into definitive agreements on May 17, 2026 with Bharti Life Ventures Private Limited, 360 ONE group and Bharti Life Insurance Company Limited (Bharti Life), pursuant to which Prudential has agreed to acquire a 75% stake in Bharti Life (Proposed Transaction) subject to receipt of applicable regulatory approvals and the satisfaction of certain conditions. To mitigate any potential conflict of interest in the management of the Company pursuant to the Proposed Transaction, the Bank and Prudential have entered into a Letter of Undertaking today.In view of the Proposed Transaction, the Company will be applying to the Insurance Regulatory and Development Authority of India (IRDAI) for reclassification of Prudential from ‘promoter’ to ‘investor’ under IRDAI laws. The Undertaking sets out certain aspects relating to the inter-se rights of the Bank and Prudential during the period from the date of submission of such application to the IRDAI (Start Date) until closing of the Proposed Transaction or such other date as directed by the IRDAI in writing (End Date).falseNot Applicable