Why Has ICICI Securities Jumped 10% In Day's Trade? | Business News

On an intra-day basis, ICICI Securities rose more than 10 percent, after it was announced that ICICI Bank would hold a meeting to discuss delisting of the ICICI Securities. Delist not via cash buyout, but likely share swap, as per sources to ET Now. ICICI Bank to issue shares to every public shareholder of ICICI Securities. At current market prices, ideal share swap ratio should be 2:3 – shares of ICICI Bank for every 3 held in ICICI Sec, as per ETNOW calculations.ICICI Securities-Share price CAGR since listing is 6% (including dividend) Vs Nifty CAGR 13% (excluding dividend). ICICI Securities was listed back in April 2018.
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