The shares of ICICI securities were in focus after an exchange filing by the company reported the finalized record date for issuing new shares. This follows the National Company Law Appellate Tribunal (NCLAT) dismissing petitions opposing the delisting.
Stock Performance
With a market capitalization of Rs 26,904.06 crore, ICICI Securities Ltd climbed 1 percent in Wednesday’s trading session and made a high of
Rs 837.90 per share compared to its previous closing price of Rs 830.30 per share. The stock retraced from its day’s high and was trading at Rs 827.45 which is a slight decrease compared to the previous close.
What Happened
ICICI securities announced that the record date for determining eligible shareholders has been set on March 24, 2025. Further, ICICI Bank has decided 67:100 as the swap ratio. This means that eligible shareholders will receive 67 shares of ICICI Bank Ltd for every 100 shares of ICICI Securities Ltd that they own.
The NCLAT dismissed petitions regarding illegality in the delisting process on Monday. Further the proposal for delisting has received strong support, with 93.82 percent of equity shareholders and 71.89 percent of public shareholders voting in favor.
The delisting and merger hold strategic significance for ICICI Bank, as they seek to simplify operations and strengthen governance. By bringing ICICI Securities under its full control, the bank aims to boost operational efficiency and reinforce its competitive position in the financial services industry.
Company Overview
ICICI Securities Limited is a technology-driven securities firm offering a variety of financial services. These include private wealth management, financial product distribution, advisory services, retail and institutional broking. The company operates through three main segments: Treasury, Broking & Distribution, and Issuer Services & Advisory.
Financial Performance
When looking at the financials, ICICI Securities Ltd reported a 20 percent YoY increase in its revenue from Rs 1,323 crore to Rs 1,586 crore in Q3 FY25. This was accompanied by an 8 percent increase in net profits from Rs 466 crore to Rs 504 crore during the same period.
Written by Shwetha Sairam
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