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ICICI Securities gains after good Q4 results

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rose 1.72% to Rs 429.90 at 14:11 IST on after consolidated net profit rose 90.72% to Rs 158.64 crore on 34.88% increase in total income to Rs 514.64 crore in Q4 March 2018 over Q4 March 2017.

The result was announced on Saturday, 14 April 2018.

Meanwhile, the Sensex was up 76.37 points, or 0.22% to 34,269.02.

On the BSE, 73,000 shares were traded in the counter so far compared with average daily volumes of 2.36 lakh shares in the past two weeks. The stock had hit a high of Rs 436.80 and a low of Rs 425.50 so far during the day. The stock hit a record high of Rs 462.70 on 4 April 2018. The stock hit a record low of Rs 400 on 13 April 2018.

On a consolidated basis, net profit rose 64.72% to Rs 557.73 crore on 32.41% increase in total income to Rs 1859.33 crore in the year ended March 2018 over the year ended March 2017.

Shares of were listed on the stock exchanges on 4 April 2018. The stock debuted at Rs 431.10, a discount of 17.10% to the initial public offer (IPO) price of Rs 520. On that day, it settled at Rs 445.05 on BSE, a discount of 14.41% over the IPO price.

The IPO of opened for subscription on 22 March 2018 and closed on 26 March 2018. The issue received bids for 3.46 crore shares. The price band of the issue was Rs 519 to Rs 520 per share. Ahead of the opening of the IPO, the board of directors of the company at its meeting held on 21 March 2018, finalised allocation of 3.30 crore equity shares to anchor investors at Rs 520 per share.

The entire proceeds from the offer for sale will be paid to selling shareholders. The objects of the offer were to achieve the benefits of listing the equity shares of the company on the stock exchanges. The listing of equity shares will enhance its visibility and brand image and provide liquidity to its existing shareholders.

Incorporated in 1995, ICICI Securities is a wholly owned subsidiary of ICICI Bank, India's largest financial conglomerate, offering a wide range of including brokerage, financial product distribution and

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 16 2018. 14:13 IST