ICICI Bank approves delisting of brokerage

[Bilgin]

ICICI Bank approves delisting of brokerage ICICI Bank has announced plans to delist its stockbroking arm, ICICI Securities. Shareholders of ICICI Securities will receive 67 shares of ICICI Bank for every 100 shares held in the subsidiary. The delisting is subject to necessary approvals. ICICI Securities will become a wholly-owned subsidiary of ICICI Bank, allowing both companies to leverage synergies and offer holistic financial services. ICICI Securities posted a net profit of INR 262.7 crore ($34.9 million) in the three months to March.