ICICI Bank has reported a notable change in its ownership structure for the fiscal year ending March 2026, marked by a decline in direct investments from both foreign portfolio investors and major domestic institutions. This data underscores a shifting financial landscape, where traditional equity holdings are being adjusted among various investor categories managing their ₹-denominated portfolios.
Foreign Portfolio Investors (FPIs) experienced the most significant shift over the twelve-month period, with their stake decreasing from 45.82 percent in March 2025 to 34.48 percent in March 2026.
Domestic institutional investors also adopted a more cautious approach throughout the year. Mutual Funds, which accounted for 29.86 percent of the bank at the close of FY25, saw their stake drop to 27.83 percent by March 2026. A more drastic reduction was noted in the insurance sector, where insurance companies reduced their collective ownership from 11.25 percent to 8.12 percent during the same timeframe.
Pension Funds Increase Holdings
Conversely, pension and provident funds expanded their holdings in the bank, elevating their stake from 2.58 percent in FY25 to 3.1 percent in FY26. Other institutional categories witnessed slight declines, with alternative investment funds (AIFs) decreasing from 0.95 percent to 0.78 percent and banking institutions marginally lowering their exposure from 0.08 percent to 0.06 percent.
Retail investors also saw a minor retreat in participation over the fiscal year. Retail shareholdings fell from 5.99 percent to 4.87 percent, while High Net-worth Individuals (HNIs) remained relatively stable, shifting from 1.17 percent to 1 percent. These changes indicate a broader strategic realignment of ₹-assets among both institutional and individual stakeholders as the fiscal year 2026 concluded.
Published on April 21, 2026.
