ICICI Bank Divests 3.55% Stake in Jaiprakash Power Ventures via Open Market Sales

ICICI Bank Limited has notified BSE Limited of a substantial disposal of shares in jaiprakash power ventures Ltd, pursuant to Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The bank sold an aggregate of 24,35,00,000 equity shares of face value of Rs. 10 each through multiple open market tranches, with the last transaction completed on May 15, 2026. The disclosure was filed with the stock exchange on May 16, 2026, and signed by the authorised signatory at ICICI Bank's Mumbai office.

Shareholding Before and After the Sale

Prior to the disposal, ICICI Bank held a total of 68,33,61,064 equity shares in Jaiprakash Power Ventures, representing 9.97% of the company's total issued and paid-up equity share capital. The bank confirmed that it held no shares under encumbrance, no voting rights otherwise than by shares, and no warrants or convertible securities in the target company at that time. The following table summarises the key shareholding details before and after the transaction:

Parameter: Before Sale After Sale Shares Carrying Voting Rights: 68,33,61,064 equity shares 43,98,61,064 equity shares % of Total Share/Voting Capital: 9.97% 6.42% % of Total Diluted Share/Voting Capital: 9.97% 6.42% Shares Encumbered: NIL NIL Voting Rights Otherwise Than by Shares: NIL NIL Warrants/Convertible Securities: NIL NIL

Details of the Disposal

The sale comprised 24,35,00,000 equity shares carrying voting rights, accounting for 3.55% of both the total and diluted share/voting capital of Jaiprakash Power Ventures. No voting rights were sold otherwise than by shares, and no warrants, convertible securities, or encumbered shares were involved in the transaction. The disposal was executed entirely through the open market.

Parameter: Details Shares Sold: 24,35,00,000 equity shares % of Total Share/Voting Capital Sold: 3.55% Mode of Sale: Open market Date of Sale: Various tranches, last being on May 15, 2026 Face Value per Share: Rs. 10 Seller: ICICI Bank Limited Seller Belongs to Promoter/Promoter Group: No

Target Company Capital Structure

The equity share capital and total voting capital of Jaiprakash Power Ventures Ltd remained unchanged both before and after the sale. The company's total equity share capital stands at Rs. 68,53,45,88,270, comprising 6,85,34,58,827 equity shares of Rs. 10 each. This figure also represents the total diluted share/voting capital of the target company after the said sale.

Regulatory Compliance

The disclosure was made in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. ICICI Bank confirmed that it is not part of the promoter or promoter group of Jaiprakash Power Ventures Ltd. The shares of the target company are listed on BSE Limited and National Stock Exchange of India Limited. Following the completion of all tranches, ICICI Bank's residual holding in Jaiprakash Power Ventures stands at 43,98,61,064 equity shares, equivalent to 6.42% of the issued and paid-up equity share capital.

Jaiprakash Power Ventures Limited has disclosed, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that a fine has been levied by the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) for alleged non-compliance with Regulation 19(1) and 19(2) of the SEBI LODR Regulations, 2015. The penalty relates to the composition of the committee for the consecutive quarters ended March 31, 2023, and June 30, 2023. The company received the communication from NSE, acting as the lead exchange as per the Standard Operating Procedure for suspension and revocation of trading of specified securities of listed entities, vide its letter dated May 5, 2026.

Fine Details and Payments

In response to the penalty, Jaiprakash Power Ventures has made the requisite payments to both exchanges. The following table summarises the key details of the regulatory action as disclosed by the company:

Parameter: Details Name of Authority: National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) Nature of Action: Fine levied for alleged violation of Regulation 19(1)/(2) of SEBI (LODR) Regulations, 2015 Date of Communication: May 5, 2026 Fine Paid to NSE: Rs. 2,40,720 (including GST) Fine Paid to BSE: Rs. 2,07,680 (including GST) Violation Period: Consecutive quarters ended March 31, 2023, and June 30, 2023 Impact on Financial/Operational Activities: NIL

Nature of Non-Compliance

The alleged non-compliance pertains to Regulation 19(1) and 19(2) of the SEBI LODR Regulations, 2015, which govern the composition of the Nomination and Remuneration Committee of listed entities. The violation was identified for two consecutive quarters — the quarter ended March 31, 2023, and the quarter ended June 30, 2023. The company has stated that the penalty has no quantifiable impact on its financial, operational, or other activities.

Regulatory Disclosure

The disclosure was made in accordance with sub-para 20 of Para A of Part A of Schedule III of the SEBI Listing Regulations. The communication was signed by Mahesh Chaturvedi, GM & Company Secretary of Jaiprakash Power Ventures Limited, on May 6, 2026. The company has requested the exchanges to take the disclosure on record.

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