Page 4 - Icici Securities

Akums Drugs and Pharmaceuticals sets IPO price band at Rs 646-679 per share

Contract manufacturer Akums Drugs plans expansion; targets higher margins

Luxury furniture brand Stanley Lifestyles IPO subscribed over 96 times

The initial public offer of luxury furniture brand Stanley Lifestyles got subscribed a whopping 96.25 times on the last day of subscription on Tuesday. The Rs 537 crore initial share-sale received bids for 98,56,97,520 shares against 1,02,41,507 shares on offer, according to NSE data. The portion for Qualified Institutional Buyers (QIBs) fetched 222.10 times subscription while the quota for non-institutional investors got subscribed 118.65 times. The quota for Retail Individual Investors (RIIs) attracted 18.13 times subscription. The Initial Public Offer (IPO) has a fresh issue of up to Rs 200 crore and an offer for sale of up to 91,33,454 equity shares. The initial share-sale has a price range of Rs 351-369 per share. The IPO of Stanley Lifestyles got subscribed 1.43 times on the first day of subscription on Friday. Stanley Lifestyles on Thursday said it raised a little over Rs 161 crore from anchor investors. The net proceeds from the fresh issue to the tune of Rs 90.13 crore

Mkt regulator Sebi's warning to ICICI Bank over ICICI Securities delisting

Shareholders of the brokerage firm complained that bank officials sought screenshots and influenced them to vote in favour

Sebi warns ICICI Bank over investor outreach for ICICI Securities delisting

ICICI Securities, a subsidiary of ICICI Bank, had secured a shareholder nod in March for the delisting

PNC Infratech stock jumps 7% as its subsidiary settles dispute with NHAI

The stock prices zoomed after the National Highway Authority of India (NHAI)and PNC Kanpur Highways, a subsidiary of the company, agreed to settle the amount of Rs 398.60 crore

ICICI Securities breached shareholder privacy rules: Shareholders tell NCLT

They claimed ICICI Bank contacted and misled shareholders in delisting process

Motilal Oswal Financial Services shares gain over 7% on bonus proposal

The company's shares ended at Rs 2,236, up 7.4 per cent over the previous close, valuing the company at Rs 33,315 crore

Stocks to Watch: Infy, Bajaj Auto, HDFC Life, ICICI Sec, ITC, SpiceJet

Stocks to watch on Friday, April 19: Balrampur Chini, Bandhan Bank, Exide, GNFC, Hindustan Copper, Metropolis, National Aluminium, Primal Enterprises, SAIL and Zee among 11 stocks in F&O ban today.

ICICI Securities Q4 results: Profit doubles to Rs 537 cr, revenue up 74%

Brokerage house ICICI Securities on Thursday reported a two-fold jump in profit after tax to Rs 537 crore for three months ended March 2024. In comparison, the company posted a profit after tax (PAT) of Rs 263 crore in the year-ago period, ICICI Securities said in a regulatory filing. The company's total revenue soared 74 per cent to Rs 1,544 crore in the fourth quarter, from Rs 885 crore in the January-March quarter of financial year 2022-23. The broking firm's total client assets reached about 7 lakh crore as of March 2024, marking a 19 per cent year-on-year (YoY) increase. Further, ICICI Securities has declared a second interim dividend of Rs 17 per share, taking the full-year dividend to Rs 29 apiece. For the full financial year FY24, the company posted a PAT of Rs 1,697 crore, marking a 52 per cent YoY increase, and revenue stood at Rs 5,051 crore for FY24, up 47 per cent from the preceding fiscal. Besides, the broking firm announced that its board of directors in its meetin

Quantum MF objects to scheme of merger of ICICI Securities with ICICI Bank

Quantum Mutual Fund has objected to the scheme of merger of ICICI Securities with parent firm ICICI Bank, saying it is "flawed and bridled with irregularities" and will adversely affect minority shareholders of the broking firm. Last month, ICICI Securities announced that about 72 per cent of its shareholders voted in favour of delisting and subsequent merger with ICICI Bank, even as the majority of retail investors opposed the scheme. "The scheme of merger is flawed and bridled with irregularities," Quantum Mutual Fund MD and CEO Jimmy Patel said in his letter written last week to ICICI Bank and forwarded it to market regulator Sebi and the stock exchanges. In the eight-page letter, Patel said that the scheme will substantially and adversely affect the interest of unitholders of the scheme of Quantum Mutual Fund and as well as minority shareholders of ICICI Securities. Highlighting irregularities, Quantum Mutual Fund has listed out four major grounds for objecting the scheme such

Quantum MF asks ICICI Bank to stall ICICI Sec delisting over irregularities

Last month, the delisting bid was approved by shareholders of both ICICI Bank and ICICI Securities

Chandra Shekhar Ghosh's exit may delay Bandhan Bank's recovery: Analysts

The Kolkata-based lender has inducted several senior management officials in the recent past, hence fairly new to the bank

From United Spirits to Zomato, multiple companies get tax demand notices

ICICI Securities on Tuesday said it has received a tax demand of about Rs 66.70 lakh from the Gujarat state GST department. In a regulatory filing, the brokerage firm said the demand includes demand of GST worth Rs 31.78 lakh, interest of Rs 31.72 lakh and penalty of Rs 3.20 lakh. The Gujarat GST authority has demanded about Rs 66.70 lakh GST, along with interest and penalty, for alleged excess claim of GST credit. The company will defend the matter before the appellate authorities and file an appeal against the order before the Commissioner (Appeals). Shares of ICICI Securities closed at Rs 719.85 apiece, down 0.54 per cent over the previous close on BSE.

ICICI Securities receives approval of shareholders for delisting

Brokerage will now become wholly-owned subsidiary of ICICI Bank again after six years

ICICI Securities slips 4% as shareholders approve dislisting plans

ICICI Securities experienced a 4.1 per cent decline at Rs 710 in early trading, while ICICI Bank witnessed a 1.3 per cent increase

ICICI Securities delisting gets nod, setting up merger with ICICI Bank

Among public institutional investors, which own a total 16.68 per cent in the company, 83.8 per cent voted in favour of the delisting

Norges Fund Investment Bank of Norway supports ICICI Securities delisting

Amid Quantum Mutual Fund voting against the proposed delisting of ICICI Securities, the largest public shareholder Norges Fund Investment Bank has voted in favour of the proposal of the stock broking arm of ICICI Bank. The foreign fund, which holds nearly 3.25 per cent stake in ICICI Securities, voted in favour on Thursday, the first day of e-voting, as per the information posted on the website of Norges Fund Investment Bank. The e-voting will remain open till March 26. The move of the Norway-based Norges Bank provided a shot in the arm of ICICI Securities' plan to delist itself as it needs two-thirds of the public shareholders' support to pass the resolution. However, Quantum Mutual Fund, which holds a 0.09 per cent stake in ICICI Securities, voted against the resolution on Thursday. Quantum Mutual Fund opposed the delisting as it did not find the swap share ratio lucrative to the shareholders of ICICI Securities. As per the scheme of arrangement, shareholders of ICICI Securitie

Better growth supports the case for small-caps in Asia: Jefferies

Small-caps in Asia, Jefferies said, have done well since 2001, with an excess return of 216 per cent versus the large-caps

TCS slips 3% after 21 mn shares change hands in block deals on BSE

At 09:15 am; around 20.93 million equity shares representing 0.58 per cent of total equity of TCS changed hands on the BSE, the exchange data showed.

Proxy companies give approval for ICICI Securities delisting bid

Move will see ISec become wholly-owned subsidiary of ICICI Bank