SEC Form 3 filed by new insider Bakhshi Sandeep

3/18/26 2:31:32 PM ET

$IBN

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SEC FORM 3SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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OMB Number:			3235-0104
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1. Name and Address of Reporting Person^*

Bakhshi Sandeep

(Last)

(First)

(Middle)

ICICI BANK TOWERS, BANDRA-KURLA COMPLEX

(Street)

MUMBAI

400051

(City)

(State)

(Zip)

INDIA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
ICICI BANK LTD [ IBN ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Executive Officer

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Equity Shares, par value Rs. 2 per share	876,300	D
Equity Shares, par value Rs. 2 per share	2,293	I	Held through Mona Bakhshi, spouse of Sandeep Bakhshi
Equity Shares, par value Rs. 2 per share	40,112	I	Held through Shivam Bakhshi, son of Sandeep Bakhshi
Equity Shares, par value Rs. 2 per share	30,412	I	Held through Esha Bakhshi, daughter of Sandeep Bakhshi
Equity Shares, par value Rs. 2 per share	30,206	I	Held through Minal Bakhshi, daughter of Sandeep Bakhshi
Equity Shares, par value Rs. 2 per share	10	I	Held through Ashwin Pradhan, son-in-law of Sandeep Bakhshi

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Option (Right to Buy)	⁽¹⁾	⁽¹⁾	Equity Shares, par value Rs. 2 per share	242,100⁽²⁾	$14.67⁽³⁾	D
Stock Option (Right to Buy)	⁽⁴⁾	⁽⁴⁾	Equity Shares, par value Rs. 2 per share	254,100⁽²⁾	$12.04⁽³⁾	D
Stock Option (Right to Buy)	⁽⁵⁾	⁽⁵⁾	Equity Shares, par value Rs. 2 per share	299,100⁽²⁾	$9.67⁽³⁾	D
Stock Option (Right to Buy)	⁽⁶⁾	⁽⁶⁾	Equity Shares, par value Rs. 2 per share	317,800⁽²⁾	$8.09⁽³⁾	D
Stock Option (Right to Buy)	⁽⁷⁾	⁽⁷⁾	Equity Shares, par value Rs. 2 per share	394,850⁽²⁾	$6.16⁽³⁾	D
Stock Option (Right to Buy)	⁽⁸⁾	⁽⁸⁾	Equity Shares, par value Rs. 2 per share	427,350⁽²⁾	$3.65⁽³⁾	D
Stock Option (Right to Buy)	⁽⁹⁾	⁽⁹⁾	Equity Shares, par value Rs. 2 per share	244,200⁽²⁾	$4.35⁽³⁾	D
Stock Option (Right to Buy)	⁽¹⁰⁾	⁽¹⁰⁾	Equity Shares, par value Rs. 2 per share	673,750⁽²⁾	$2.71⁽³⁾	D
Stock Option (Right to Buy)	⁽¹¹⁾	⁽¹¹⁾	Equity Shares, par value Rs. 2 per share	913,000⁽²⁾	$2.4⁽³⁾	D
Stock Option (Right to Buy)	⁽¹²⁾	⁽¹²⁾	Equity Shares, par value Rs. 2 per share	1,100,000⁽²⁾	$2.64⁽³⁾	D
Stock Option (Right to Buy)	⁽¹³⁾	⁽¹³⁾	Equity Shares, par value Rs. 2 per share	673,750⁽²⁾	$3.03⁽³⁾	D
Stock Option (Right to Buy)	⁽¹⁴⁾	⁽¹⁴⁾	Equity Shares, par value Rs. 2 per share	220,000⁽²⁾	$2.56⁽³⁾	D

Explanation of Responses:

1. A total of 242,100 stock options granted on April 17, 2025 and vesting in three tranches: (i) 72,630 vesting on April 17, 2026 and expiring on April 16, 2031, (ii) 72,630 vesting on April 17, 2027 and expiring on April 16, 2032, and (iii) 96,840 vesting on April 17, 2028 and expiring on April 16, 2033.

2. Each stock option represents the contingent right to apply for one Equity Share.

3. The exercise prices of the stock options are denominated in Rupee and translated for convenience only into USD at the rate of INR92.47 to US$1.00, the exchange rate set forth int he H.10 statistical release of the Federal Reserve Board on March 13, 2026.

4. A total of 254,100 stock options granted on April 26, 2024 and vesting in three tranches: (i) 76,230 vested on April 26, 2025 and expiring on April 25, 2030, (ii) 76,230 vesting on April 26, 2026 and lapsing on April 25, 2031, and (iii) 101,640 vesting on April 26, 2027 and expiring on April 25, 2032.

5. A total of 299,100 stock options granted on April 21, 2023 and vesting in three tranches: (i) 89,730 vested on April 21, 2024 and expiring on April 20, 2029, (ii) 89,730 vested on April 21, 2025 and expiring on April 20, 2030, and (iii) 119,640 vesting on April 21, 2026 and expiring on April 20, 2031.

6. A total of 317,800 stock options granted on April 23, 2022 and vesting in three tranches: (i) 95,340 vested on April 23, 2023 and expiring on April 22, 2028, (ii) 95,340 vested on April 23, 2024 and expiring on April 22, 2029, and (iii) 127,120 vested on April 23, 2025 and expiring on April 22, 2030.

7. A total of 394,850 stock options granted on April 24, 2021 and vesting in three tranches: (i) 118,455 vested on April 24, 2022 and expiring on April 23, 2027, (ii) 118,455 vested on April 24, 2023 and expiring on April 23, 2028, and (iii) 157,940 vested on April 24, 2024 and expiring on April 23, 2029.

8. A total of 610,500 stock options granted on May 9, 2020 and vesting in three tranches: (i) 183,150 vested on May 9, 2021 and expiring on May 8, 2026, which have been fully exercised by the Reporting Person prior to expiration, (ii) 183,150 vested on May 9, 2022 and expiring on May 8, 2027, and (iii) 244,200 vested on May 9, 2023 and expiring on May 8, 2028.

9. A total of 610,500 stock options granted on May 6, 2019 and vesting in three tranches: (i) 183,150 vested on May 6, 2020 and expired on May 5, 2025, which have been fully exercised by the Reporting Person prior to expiration, (ii) 183,150 vested on May 6, 2021 and expiring on May 5, 2026, which have been fully exercised by the Reporting Person prior to expiration, and (iii) 244,200 vested on May 6, 2022 and expiring on May 5, 2027.

10. A total of 673,750 stock options granted on May 3, 2017 and vesting in three tranches: (i) 202,125 vested on May 3, 2018 and expiring on May 2, 2028, (ii) 202,125 vested on May 3, 2019 and expiring on May 2, 2029, and (iii) 269,500 vested on May 3, 2020 and expiring on May 2, 2030.

11. A total of 913,000 stock options granted on April 28, 2016 and vesting in three tranches: (i) 273,900 vested on April 28, 2017 and expiring on April 27, 2027, (ii) 273,900 vested on April 28, 2018 and expiring on April 27, 2028, and (iii) 365,200 vested on April 28, 2019 and expiring on April 27, 2029.

12. A total of 1,100,000 stock options granted on September 16, 2015 and vesting in two tranches: (i) 550,000 vested on April 30, 2018 and expiring on April 29, 2028 and (ii) 550,000 vested on April 30, 2019 and expiring on April 29, 2029.

13. A total of 962,500 stock options granted on April 27, 2015 and vesting in three tranches: (i) 288,750 vested on April 27, 2016 and expiring on April 26, 2026, which have been fully exercised by the Reporting Person prior to expiration, (ii) 288,750 vested on April 27, 2017 and expiring on April 26, 2027, and (iii) 385,000 vested on April 27, 2018 and expiring on April 26, 2028.

14. A total of 962,500 stock options granted on April 25, 2014 and vesting in three tranches: (i) 288,750 vested on April 25, 2015 and expired on April 24, 2025, which have been fully exercised by the Reporting Person prior to expiration, (ii) 288,750 vested on April 25, 2016 and expiring on April 24, 2026, which have been fully exercised by the Reporting Person prior to expiration, and (iii) 385,000 vested on April 25, 2017 and expiring on April 24, 2027, 165,000 of which have been exercised by the Reporting Person prior to expiration.

Remarks:

Exhibit 24.1. See power of attorney attached

	/s/ Vivek Ranjan, as Attorney-in-fact	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

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Table I - Non-Derivative Securities Beneficially Owned

1. Title of Security (Instr. 4)

2. Amount of Securities Beneficially Owned (Instr. 4)

3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)

4. Nature of Indirect Beneficial Ownership (Instr. 5)

Equity Shares, par value Rs. 2 per share

876,300

Equity Shares, par value Rs. 2 per share

2,293

Held through Mona Bakhshi, spouse of Sandeep Bakhshi

Equity Shares, par value Rs. 2 per share

40,112

Held through Shivam Bakhshi, son of Sandeep Bakhshi

Equity Shares, par value Rs. 2 per share

30,412

Held through Esha Bakhshi, daughter of Sandeep Bakhshi

Equity Shares, par value Rs. 2 per share

30,206

Held through Minal Bakhshi, daughter of Sandeep Bakhshi

Equity Shares, par value Rs. 2 per share

Held through Ashwin Pradhan, son-in-law of Sandeep Bakhshi

Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)

2. Date Exercisable and Expiration Date (Month/Day/Year)

3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)

4. Conversion or Exercise Price of Derivative Security

5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)

6. Nature of Indirect Beneficial Ownership (Instr. 5)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option (Right to Buy)

⁽¹⁾

Equity Shares, par value Rs. 2 per share

242,100⁽²⁾

$14.67⁽³⁾

Stock Option (Right to Buy)

⁽⁴⁾

Equity Shares, par value Rs. 2 per share

254,100⁽²⁾

$12.04⁽³⁾

Stock Option (Right to Buy)

⁽⁵⁾

Equity Shares, par value Rs. 2 per share

299,100⁽²⁾

$9.67⁽³⁾

Stock Option (Right to Buy)

⁽⁶⁾

Equity Shares, par value Rs. 2 per share

317,800⁽²⁾

$8.09⁽³⁾

Stock Option (Right to Buy)

⁽⁷⁾

Equity Shares, par value Rs. 2 per share

394,850⁽²⁾

$6.16⁽³⁾

Stock Option (Right to Buy)

⁽⁸⁾

Equity Shares, par value Rs. 2 per share

427,350⁽²⁾

$3.65⁽³⁾

Stock Option (Right to Buy)

⁽⁹⁾

Equity Shares, par value Rs. 2 per share

244,200⁽²⁾

$4.35⁽³⁾

Stock Option (Right to Buy)

⁽¹⁰⁾

Equity Shares, par value Rs. 2 per share

673,750⁽²⁾

$2.71⁽³⁾

Stock Option (Right to Buy)

⁽¹¹⁾

Equity Shares, par value Rs. 2 per share

913,000⁽²⁾

$2.4⁽³⁾

Stock Option (Right to Buy)

⁽¹²⁾

Equity Shares, par value Rs. 2 per share

1,100,000⁽²⁾

$2.64⁽³⁾

Stock Option (Right to Buy)

⁽¹³⁾

Equity Shares, par value Rs. 2 per share

673,750⁽²⁾

$3.03⁽³⁾

Stock Option (Right to Buy)

⁽¹⁴⁾

Equity Shares, par value Rs. 2 per share

220,000⁽²⁾

$2.56⁽³⁾

SEC Form 3 filed by new insider Bakhshi Sandeep

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SEC Form 3 filed by new insider Bakhshi Sandeep

Crush Q1 2026 with the Best AI Superconnector

Recent Analyst Ratings for
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