The boards of directors of ICICI and ICICI Bank today approved the reverse merger of the financial institution with the bank at a share exchange ratio of one domestic equity share of ICICI Bank for every two domestic equity shares of ICICI.
In case of the American depository shares (ADS) (each ADS of ICICI represents five domestic equity shares and that of ICICI Bank, two domestic equity shares), the ADS holders of ICICI will be issued five ADS of ICICI Bank in exchange of every four ADS held in ICICI.
The share price of ICICI fell by 9.38 per cent to Rs 52.60 against yesterday
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app