ICICI Securities Ltd (ISEC)

ICICI Securities Faces Class Action Suit Against Delisting Plans - 29 Apr, 2024

Minority shareholders of ICICI Securities have filed a class action suit with the National Company Law Tribunal (NCLT) against the proposed delisting plan, which includes a share swap ratio. The plan was approved by public shareholders in March despite opposition from some retail shareholders.

ICICI Securities Faces Legal Action Over Delisting Plan - 28 Apr, 2024

A group of minority shareholders led by investor Manu Rishi Gupta have filed a class action suit with the National Company Law Tribunal against ICICI Securities over its delisting plan. The shareholders allege that due process was not followed, there were irregularities in valuation, and attempts to influence voting. Quantum Advisors has also alleged flaws in the merger scheme. ICICI Bank is facing criticism for allegedly persuading minority shareholders to back the private lender's bid to delist the brokerage.

Investors Plan to Oppose ICICI Securities Delisting - 24 Apr, 2024

ICICI Securities, the broking arm of ICICI Bank, is set to be delisted from Indian bourses. A group of investors led by Manu Rishi Gupta plans to approach the National Company Law Tribunal (NCLT) against ICICI Bank's bid to delist its broking arm. Shareholders will also oppose the share swap ratio offered by ICICI Bank for the delisting.

ICICI Securities Q4 FY24 Results Show Increase in Revenue and Profit - 20 Apr, 2024

ICICI Securities' Q4 FY24 results show a YoY increase of 76.09% in revenue and 104.25% in profit, with EPS at ₹16.47. The company has a consensus recommendation to Buy as of April 20, 2024.

ICICI Securities Reports Strong Q4 Results - 19 Apr, 2024

ICICI Securities reports a consolidated net profit of Rs 537 crore for Q4 FY24, representing a 104% YoY increase, and a total revenue of Rs 1,544.44 crore, reflecting a 74.5% YoY growth. The company's board approves the payment of a second interim dividend of Rs 17 per equity share.

ICICI Securities Reports Strong Q4 Results - 18 Apr, 2024

ICICI Securities reported a consolidated net profit of Rs 536.5 crore for Q4 FY24, up by 104% YoY, and declared a second interim dividend of Rs 17 per share. The company's total revenue rose 74% YoY to Rs 1,543.2 crore. ICICI Securities' full-year PAT stood at Rs 1,697 crore, marking a 52% YoY increase.

ICICI Securities Merger Faces Objection from Quantum Mutual Fund - 15 Apr, 2024

Quantum Mutual Fund has raised objections to the proposed merger of ICICI Securities with its parent company ICICI Bank, citing flaws and irregularities that could adversely affect minority shareholders. Despite this, 72% of ICICI Securities' shareholders have voted in favour of the delisting and merger.

ICICI Securities Delisting Opposed by Quantum MF - 13 Apr, 2024

Quantum Mutual Fund has written to SEBI objecting to ICICI Bank's plan to delist its subsidiary, ICICI Securities, citing unfair valuation and non-compliance with regulations. The swap ratio assigns a discount of 30-77% to ICICI Securities compared to its listed peers.

ICICI Securities Head of Equity Capital Market Quits - 09 Apr, 2024

Pratik Loonker, the head of equity capital market at ICICI Securities, has quit and is set to join Axis Capital. Meanwhile, ICICI Securities notes that premium/notional value may remain stable despite changes in Bank Nifty lot size.

Retail Investors Sell ICICI Securities Shares - 05 Apr, 2024

Retail investors sold shares of ICICI Securities Ltd in the March quarter, resulting in their combined stake falling to its lowest level since June 2020. This was due to the NCLT approving the ICICI Securities-ICICI Bank merger and equity shareholders eventually giving go-ahead to the company's delisting proposal.

ICICI Securities Receives Tax Demand from Gujarat State GST Department - 03 Apr, 2024

ICICI Securities has received a tax demand of about Rs 66.70 lakh, including GST worth Rs 31.78 lakh, interest of Rs 31.72 lakh and penalty of Rs 3.20 lakh from the Gujarat state GST department.