Sebi warns ICICI Bank over investor outreach for ICICI Securities delisting

India's markets regulator has warned ICICI Bank over its employees reaching out to shareholders of its unit, ICICI Securities, to urge them to vote in favour of the unit delisting from stock exchanges, the bank said on Wednesday.
ICICI Securities, a subsidiary of ICICI Bank, had secured a shareholder nod in March for the delisting.

The Securities and Exchange Board of India's (Sebi) warning letter to ICICI Bank says it received several complaints that the bank made multiple attempts to persuade ICICI Securities' shareholders to vote in favour of the delisting.