ICICI Bank Share Price: In today’s board meeting, the delisting of ICICI Securities has been approved. At present, ICICI Securities is the fifth largest brokerage company in the country. From now on it will become a subsidiary company of ICICI Bank.
ICICI Securities Delisting: Big news is coming out regarding ICICI Securities. The delisting of ICICI Securities has been approved in the board meeting held today. At present, ICICI Securities is the fifth largest brokerage company in the country. From now on it will become a subsidiary company of ICICI Bank, all the investors who have shares of ICICI Securities will be given shares of ICICI Bank in return.
Investors will get shares of ICICI Bank
While giving information today, the company has said that after the delisting, the shares of ICICI Bank will be allotted to the investors of ICICI Securities. If you have 100 shares of securities, you will get 67 shares of ICICI Bank in return.
It may take time to complete the process, let us
tell you that it may take about 12 to 15 months to complete the process of this delisting. Please tell that if you have shares of ICICI Securities, then the shares of ICICI Securities will be canceled as soon as the shares of ICICI Bank are credited in the demed.
The IPO of ICICI Securities came in 2018.
Let us tell you that the IPO of ICICI Securities came in the year 2018. The issue price of this IPO was Rs 520, but its listing was done at Rs 431. This stock of the company has been underperforming, due to which the decision has been taken to delist it. After the decision of delisting, there was a slight rise in the stock. After today’s trading, the stock of Securities has closed at the level of Rs.614.
This brokerage firm is on top at this time. At
present, companies like Zerodha and Groww are well known in the brokerage business in the market. ICICI Securities is at the fifth position with 6.8 per cent market share. By the end of May 2023, the number of active clients in NSE was 2.1 million.
