Fund houses jump ship ahead of ICICI Securities rout: All you need to know

The regulator has also ordered compensating investors who redeemed their units since the date of allotment of shares in IPO

Immediately after the lock-in period ended in April, certain fund houses have managed to escape the rout that shares of ICICI Securities witnessed in the light of Sebi’s scrutiny over its IPO. Certain fund houses managed to sell as many as 1.46 million shares in May, booking losses between 20 and 30 per cent. 

ICICI Securities is currently trading at 40 per cent below its issue price of Rs 520. The IPO of the broking and investment