Mutual funds, which held 29.86% of the bank at the end of FY25, saw their share dip to 27.83% by March 2026 | Photo Credit: Kesavan A N 1612@Chennai

ICICI Bank has reported a significant shift in its ownership structure for the fiscal year ending March 2026, characterised by a reduction in direct holdings from foreign portfolio investors and major domestic institutions. The data highlights an evolving financial landscape where traditional equity stakes are being rebalanced across various investor categories as they manage their ₹-denominated portfolios.

Foreign Portfolio Investors (FPIs) recorded the most substantial movement over the twelve-month period, with their stake falling from 45.82 per cent in March 2025 to 34.48 per cent in March 2026.

Domestic institutional players also showed a more cautious stance throughout the year. Mutual Funds, which held 29.86 per cent of the bank at the end of FY25, saw their share dip to 27.83 per cent by March 2026. A more pronounced reduction was observed in the insurance sector, where insurance companies decreased their collective stake from 11.25 per cent to 8.12 per cent over the same period.

Pension funds hike holding

In contrast, pension and provident funds increased their footprint in the bank, raising their shareholding from 2.58 per cent in FY25 to 3.1 per cent in FY26. Other institutional categories saw minor downward adjustments, with alternative investment funds (AIFs) moving from 0.95 per cent to 0.78 per cent, while banking institutions slightly lowered their exposure from 0.08 per cent to 0.06 per cent.

The participation of individual investors also witnessed a marginal retreat during the fiscal year. Retail shareholding declined from 5.99 per cent to 4.87 per cent, while High Net-worth Individuals (HNIs) maintained a largely steady position, moving from 1.17 per cent to 1 per cent. These shifts reflect a broader strategic rebalancing of ₹-assets among institutional and individual stakeholders as the 2026 fiscal year concluded

Published on April 21, 2026