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    Asad Shaikh in News

    28 Mar 05:45 AM


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    ICICI Securities delisting gets nod from institutional investors despite retail resistance; shares fall 4%

    Despite resistance from retail investors, institutional shareholders gave the green light to the proposal to delist ICICI Securities and merge it with its parent company.

    Because big institutional investors own a significant portion of ICICI Securities, they were able to push through the proposal. Foreign and domestic institutional investors together own 16.68 per cent of the company. On the other hand, non-institutional public shareholders only hold 8.55 per cent as of December 31, 2023, according to shareholding pattern data on the stock exchange.
    Meanwhile, ICICI Securities share price declined over 4 per cent in morning trade on Thursday, March 28 following the announcement by the company. ICICI Securities share price opened at ₹720.80 against the previous close of ₹741.10 and soon slipped about 4.2 per cent to the level of ₹710.

    Source - Mint