ICICI Securities Ltd Share Price (ISEC)

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.

ICICI Securities Ltd's Market Cap Drops by Rs 7.6 Billion - 30 Mar, 2024

Public companies, the biggest owners of ICICI Securities Ltd (NSE:ISEC), were hit after its market cap dropped by Rs 7.6 billion. The largest shareholder is ICICI Bank Limited with a 75% stake.

ICICI Securities to Delist After Shareholder Approval - 29 Mar, 2024

ICICI Securities is set to be delisted from the stock exchanges following approval from its public shareholders for ICICI Bank's bid. The broking firm's shareholders will receive 67 shares of ICICI Bank for every 100 shares held. Some minority shareholders had opposed the share swap ratio offered by ICICI Bank.

ICICI Securities Shareholders Approve Delisting Proposal - 28 Mar, 2024

ICICI Securities is set to become a wholly-owned subsidiary of ICICI Bank after securing shareholder approval to delist. The move offers compelling revenue and cost synergies, according to proxy advisory firms. However, Indian stock exchanges have sought clarification over allegations that retail shareholders were being contacted by ICICI Bank employees in connection with the delisting.

ICICI Bank Faces Backlash Over Delisting Proposal for ICICI Securities - 27 Mar, 2024

ICICI Bank faces criticism from minority shareholders over its proposal to delist ICICI Securities and merge it with the parent company. The bank has been accused of trying to sway shareholder votes and offering an unfair valuation to minority shareholders. Quantum Mutual Fund voted against the proposal, while lawyers and market participants warn of potential regulatory scrutiny.

ICICI Securities Receives Warning from SEBI - 26 Mar, 2024

ICICI Securities has received an administrative warning from the Securities and Exchange Board of India (SEBI) regarding its Merchant Banking operations. The warning comes in connection with Sebi's inspection of the books and records related to the merchant banking activities of ICICI Securities conducted in December 2023.

ICICI Securities Merger Proposal Faces Opposition - 24 Mar, 2024

ICICI Securities' proposed merger with its parent company, ICICI Bank, faces opposition from Quantum Mutual Fund due to concerns over undervaluation and negative impact on unit holder interests. Norway's Norges Bank Investment Management voted in favour, while CalPERS rejected the proposal.

ICICI Securities Delisting Proposal Gets Mixed Response from Shareholders - 23 Mar, 2024

The largest public shareholder of ICICI Securities, Norges Fund Investment Bank, has voted in favour of the proposal to delist the stock broking arm of ICICI Bank, while Quantum Mutual Fund voted against it due to an unattractive swap share ratio. The e-voting will remain open until March 26.

ICICI Securities Faces Opposition and Warning - 22 Mar, 2024

Quantum Mutual Fund has voted against the proposed ICICI Bank-ICICI Securities merger, while SEBI issued an administrative warning to ICICI Securities over Merchant Banking activities inspection. Despite this, ICICI Securities reported strong Q3 revenue with no expected impact.

ICICI Securities Delisting Plan Supported by Proxy Advisory Firms - 20 Mar, 2024

Institutional Investor Advisory Services (IiAS) and ISS have supported the delisting of ICICI Securities, advising shareholders to vote in favor. The resolution needs more than two-thirds of the votes cast to be passed. ICICI Securities announced the delisting plan through a scheme of arrangement in June 2023.