ICICI Securities has received shareholder approval for the delisting of its stock, marking a significant step towards merging with its parent company, ICICI Bank. With 71.9% of minority shareholders voting in favor, surpassing the required threshold, the move sets the stage for consolidation. Despite a 4.5% drop in ICICI Securities’ shares, ICICI Bank observed a 1.2% rise in early trading. Notably, 83.8% of public institutional investors supported the delisting, while only 32% of non-institutional public shareholders were in favor. This development aligns with ICICI’s strategic restructuring efforts in the financial sector.
ICICI Securities Shareholders Approve Delisting for Merger with ICICI Bank
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