ICICI Bank to conduct IPO for broking arm ICICI Securities

ICICI Bank, one of India’s top banks, said it has decided to list its equity broking arm ICICI Securities.

“The board of directors of the bank today approved the sale of a part of its shareholding in ICICI Securities Ltd in an initial public offering by the company, subject to requisite approvals and market conditions,” it said today.

The size and other details of the offer would be determined in due course, it added.

ICICI Securities is a SEBI registered Category 1 Merchant Banker. banking space.

It is involved in Equity Capital Markets, Private Equity Intermediation and Public Issuance of Debt.

It has an institutional research team with 30 analysts and coverage of around 150 stocks.

It holds `India Unlimited’, an annual investors’ conference held in Singapore and New York.

The firm also operates the retail broking platform ICICIdirect.com with millions of users.