ICICI Securities delisting: Shares fall 3% as 72% of public shareholders vote in favour of delisting

ICICI Securities delisting: Shares of ICICI Securities and ICICI Bank were on investors' radar on Thursday, March 28, given the former's delisting news. As per reports, 72 per cent of public shareholders have voted in favour of the delisting, while 68 per cent of individual investors have voted against it. Further, 84 per cent of institutional investors are in favour of the delisting of the scrip of the retail stockbroking firm.

Additionally, the scrips will also be in the news, as BSE has sought clarification from ICICI Bank regarding ICICI Securities' delisting news. "There are reports in the media that retail shareholders of ICICI Securities Limited were being contacted by the employees of ICICI Bank in connection with the delisting of ICICI Securities. To verify the accuracy or otherwise of the information reported in the media, the exchange has written to both companies to provide clarification on the same," BSE said.

At 09:33 AM, shares of ICICI Securities traded 2.91 per cent lower at Rs 719.50 apiece while ICICI Bank was up 1.33 per cent at Rs 1,098.40 on the BSE.

ICICI Securities: A little background

Last year, in June, ICICI Bank approved a proposal to delist ICICI Securities and become a wholly-owned subsidiary of the bank after delisting. ICICI Securities, promoted by ICICI Bank, is the country's leading retail-led equity franchise, distributor of financial products, and investment bank.