What is the timeline for the ICICI Securities Delisting and Merger Process?

ICICI Securities Ltd. will be delisted as part of a merger process with ICICI Bank, making it a wholly-owned subsidiary of the bank. The delisting will follow a set timeline, with specific dates for suspension, trading cessation, and share conversion.

Trading Suspension and Delisting Date

The equity shares of ICICI Securities will be suspended from trading after market hours on March 21, 2025. The official delisting date, when trading will fully cease, is set for March 24, 2025. After this, ICICI Securities will no longer be available for independent trading on stock exchanges.

Swap Ratio 

ICICI Bank will issue shares to eligible ICICI Securities shareholders based on a 67:100 swap ratio. This means that shareholders holding 100 shares of ICICI Securities will receive 67 shares of ICICI Bank in exchange. The record date for this conversion is March 24, 2025. Only shareholders holding ICICI Securities stock as of this date will be eligible for the exchange.

Regulatory Clearance

The delisting was approved by shareholders, with 93.82% of private shareholders and 71.88% of public shareholders voting in favor. However, some minority shareholders opposed the move, claiming the process was unfairly structured in favor of ICICI Bank. The matter was taken to the National Company Law Appellate Tribunal (NCLAT), where the petition was dismissed. 

The tribunal ruled that the delisting and swap ratio met legal requirements, allowing the process to proceed.

Stock Market Performance

As of March 20, 2025, at 2:33 PM, ICICI Securities Shares are trading at ₹882.95, up ₹5.90 (0.67%) for the day. Over the past six months, the stock has declined by 1.25%, while it has gained 21.95% over the past year. The company’s market capitalization is ₹27,000 crore. The stock has also gained 25% from its 52-week low in June 2024.

Conclusion 

Following the record date, ICICI Securities shareholders will receive their ICICI Bank shares as per the swap ratio. Market participants will monitor the integration process and its impact on ICICI Bank’s financials in the coming months.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.