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ICICI Bank to consider delisting of broking unit
Mint Mumbai
|June 27, 2023
The delisting, would be carried out pursuant to a scheme of arrangement
MUMBAI: Private sector lender ICICI Bank Ltd on Monday said that its board would consider a proposal on 29 June to delist equity shares of its stockbroking arm ICICI Securities.
Following the announcement, shares of ICICI Securities rose as much as 15% to ₹647 apiece on an intraday basis before ending at ₹621.9. ICICI Securities has a market capitalization of ₹20,096 crore. In the past year, the company has given a return of 42% to investors, significantly higher than the Nifty 50 index return of 19%.
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