ICICI Bank, ICICI Securities trade lower on last day of shareholders' voting for delisting

ICICI Bank and ICICI Securities ended their respective trading session on BSE on Tuesday (March 26, 2024) in red on a day when shareholder voting for taking the approval of ICICI Securities' delisting was ending. The voting had began on March 22. 

After the voting, shareholders of ICICI Securities will discuss the resolution of the delisting of the company at a virtual meeting on March 27, 2024.

Amid the development, let's see how ICICI Bank and ICICI Securities shares are trading on BSE on Tuesday.

ICICI Bank share price

ICICI Bank slipped by 0.67 per cent to the day's low of Rs 1082.75 on Tuesday after closing at Rs 1090.10 in the previous session. 

The stock closed the day lower by 0.68 per cent, or Rs 7.40, at Rs 1082.70 on Tuesday.

In another development, the bank informed BSE on Friday that I-Process Services (India) Private Limited (“iProcess” or “the Company”) had become a subsidiary of the bank.

"We wish to inform that subsequent to the above disclosure, the bank has purchased 19,620 shares of the company in off-market transactions. Consequently, the company has become a wholly-owned subsidiary of the Bank today," ICICI Bank said in a statement on Friday.

ICICI Securities share price

ICICI Securities slipped by 2.10 per cent to the day's low of Rs 736.00 in morning deals on Tuesday. 

The stock closed the day's trading lower by 1.97 per cent, or Rs 14.80, at 737.00 on Tuesday.

Sebi's warning to ICICI Securities

Securities and Exchange Board of India (Sebi) on Friday issued an administrative warning to ICICI Securities Limited vide its letter dated March 22, 2024.

"The administrative warning has been issued in connection with the inspection of books and records for the Merchant Banking activities of the Company conducted in the month of December 2023," ICICI Securities said in the statement.