The National Company Law Tribunal (NCLT) in Mumbai has approved the delisting scheme for ICICI Securities, despite objections from some minority shareholders.
Delisting Scheme Details
- Approval: The scheme was sanctioned by NCLT Mumbai today.
- Share Exchange: ICICI Securities shareholders will receive 67 ICICI Bank shares for every 100 ICICI Securities shares they hold.
- Shareholder Approval: 93.8% of ICICI Securities’ equity shareholders supported the scheme.
- Objections: Quantum Mutual Fund, holding 0.08% of the shares, and minority shareholder Manu Rishi Gupta, with 0.002% of the shares, opposed the scheme.
Next Steps
- Implementation: The scheme will proceed as per the tribunal’s order, following the successful resolution of objections.
- Impact: Shareholders will transition their holdings to ICICI Bank shares as part of the delisting process.
TOPICS:
ICICI Securities