Icici Bank (IBN) has released an update.
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ICICI Bank Limited has announced to the Indian stock exchanges that shareholders have approved a scheme for delisting the equity shares of ICICI Securities, with the proposal now awaiting approval from the National Company Law Tribunal (NCLT). Following this, ICICI Securities is set to become a wholly owned subsidiary of the bank, subject to NCLT’s sanction. The bank has also received an email notification from the NCLT regarding an application filed by certain shareholders pertaining to the scheme, which the bank will address appropriately.
For further insights into IBN stock, check out TipRanks’ Stock Analysis page.
