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On November 30, after the draft arrangement of the arrangement of its equity delisting was approved by the Indian National Stock Exchange (NSE) and the Indian Stock Exchange (BSE), the stock price of the Indian Industrial Credit Investment Bank (ICICI Securities LTD.Fall to 657 rupees.In the past 5 trading days, the stock has fallen by 3%, and the benchmark Sensex index has risen by 1%.

So far this year, the stock price of Indian Industrial Credit Investment Securities has soared by more than 35%.

In a document submitted to BSE, ICICI Securities stated that the arrangement plan must obtain ICICI bank shareholders and creditors, and companies, the national company law court and other applicable laws and the necessary approval of the legal authorities, and observe the terms and conditions of the terms and conditions.Essence

In retrospect, the draft ICICI securities delisting was announced on June 29. According to the plan, ICICI Bank will issue its shares to the public shareholders of ICICI Securities to replace the cancellation of its shares in ICICI Securities, so that the brokerage company becomes ICICI.A wholly -owned subsidiary of the bank.

On July 15, ICICI Securities submitted an application for the proposed arrangement plan to NSE and BSE.On November 9, ICICI Bank was approved by the Indian Reserve Bank (RBI) under certain conditions.

"In this regard, we want to inform you that the bank received the 'non -opposition' observation letter from India Stock Exchange Co., LtdJaipur Stock. and BSE Co., LtdLucknow Stock. on November 28, 2023 and November 29, 2023.The copy has been announced on the bank website.

ICICI Bank explained the reasons behind this decision on June 26, saying that "ICICI Securities is a low -capital consumption business, and the internal profit should be enough to provide funds for business growth. It is expected that Indian Industrial Credit Investment Bank will not be required to be requiredThe company injects additional funds "

In the quarter of September (Q2FY24), the Indian Industrial Credit Investment Bank Securities Company reported that the merging net profit of the September quarter of this fiscal year was 423.63 billion rupees, an increase of 41.01%year -on -year.

Business income increased to Rs 12.49 billion, an increase of 45.49%from the 85.846 billion rupees of the Rs 85.846 billion in the same period last year.

The company said earlier that during the delisting process, each shareholder of the company will receive 67 ICICI bank shares every 100 shares.