ICICI Securities to be 100% subsidiary of ICICI Bank upon delisting

Public shareholders of the broking firm to get 67 shares of ICICI Bank for each 100 shares of ICICI Securities

ICICI Securities will delist and become a wholly-owned subsidiary of parent ICICI Bank, the broking firm said in an exchange filing on Thursday after its board meeting.

The company stated that the board of directors had approved the delisting plans and agreed on a share swap ratio. The public shareholders of ICICI Securities would be allotted 67 shares of ICICI Bank for 100 shares each of the brokerage firm.