ICICI Securities to delist its shares

ICICI Securities, one of the leading brokerage houses in the country, has decided to delist its shares from the stock exchanges. Following the de-listing, ICICI Securities would operate as a wholly-owned subsidiary of ICICI Bank and its shares held by public shareholders would be extinguished. At present, ICICI Bank holds a 75 per cent stake in ICICI Securities. Talking about the shareholders, for every 100 shares of ICICI Securities held by the shareholders, they will receive 67 shares of ICICI Bank. For instance, if an individual holds 100 shares in ICICI Securities valued at Rs 61,430 (based on the closing share price of Rs 614.30 as of June 28, 2023),