ICICI Securities Delisted, Now a Wholly Owned ICICI Bank Unit

ICICI Securities has officially merged with ICICI Bank, making it a wholly owned subsidiary. With all necessary approvals secured, the merger scheme is now effective, leading to ICICI Securities’ delisting from stock exchanges. This move is expected to streamline operations and strengthen ICICI Bank’s financial services.

Record Date and Share Swap

In a disclosure on March 11, 2025, ICICI Securities confirmed the merger’s completion. The company’s board set March 24, 2025, as the Record Date when existing shares of ICICI Securities held by the public will be cancelled. Shareholders will receive ICICI Bank shares based on a 67:100 swap ratio (67 ICICI Bank shares for every 100 ICICI Securities shares).

Regulatory Approvals and Shareholder Support

The merger, announced on June 29, 2023, received all required approvals, including from the Ahmedabad and Mumbai benches. It also gained strong shareholder support, with:

• 93.82% of total shareholders voted in favour
• 71.89% of public shareholders approved the delisting, surpassing SEBI’s two-thirds majority requirement

Some minority shareholders opposed the delisting, but on March 10, 2025, the National Company Law Appellate Tribunal (NCLAT), New Delhi, dismissed all appeals, clearing the path for the merger.

ICICI Securities’ Stock Performance

ICICI Securities share price has gained 4% in 2025 and is up 20% over the past year, reflecting investor confidence in the merger’s benefits.

Why the Merger Matters?

ICICI Bank aims to enhance efficiency and governance through this integration. The merger is expected to:

• Streamline financial services under a single platform
• Improve corporate governance with unified oversight
• Increase operational efficiency and competitiveness by leveraging shared resources

Final Steps

With the merger effective from March 11, 2025, and the March 24 Record Date marking the share swap, ICICI Securities is now fully integrated with ICICI Bank. This strategic move is set to create long-term value for shareholders and strengthen ICICI Bank’s financial ecosystem.

About ICICI Bank Limited

ICICI Bank Limited is a multinational Indian bank and financial services provider, headquartered in Mumbai, with its registered office located in Vadodara.

ICICI Bank share price opened at ₹1,359.00, recorded a high of ₹1,363.80 and a low of ₹1,353.00, with the current price at ₹1,362.50, up by ₹4.35 or 0.32% as of 10:46 AM IST on March 25. The bank has a market capitalisation of ₹9.62 lakh crore, a P/E ratio of 19.83, and a dividend yield of 0.73%. Its 52-week high stands at ₹1,373.00, while the 52-week low is ₹1,048.10.

Conclusion

The merger strengthens ICICI Bank’s financial services, improves governance, and enhances efficiency. With ICICI Securities now fully integrated, the bank is poised for long-term growth.

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