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The resignation will take impact from the shut of enterprise hours on April 12, 2024.
“Kedar Deshpande, Head – Retail Distribution (inside the class of senior administration within the Firm), vide letter dated March 28, 2024, has tendered his resignation from the companies of the corporate,” ICICI Securities mentioned in a regulatory submitting.
In his letter to ICICI Securities Managing Director and CEO Vijay Chandok, Deshpande mentioned: “I want to resign from the corporate to pursue alternate profession alternatives exterior the ICICI Group”.
ICICI Securities is at the moment within the strategy of delisting itself from the inventory exchanges. The brokerage agency could be merged with its promoter ICICI Financial institution after profitable delisting.
ICICI Financial institution at the moment holds a 74.77 per cent stake in ICICI Securities.
ICICI Securities had on Thursday knowledgeable the inventory exchanges that about 72 per cent of its shareholders voted in favour of delisting, despite the fact that a majority of retail shareholders opposed the transfer.
In a voting on March 27, 83.8 per cent of ICICI Securities’ institutional traders voted in favour of the scheme, whereas 67.8 per cent of retail traders voted towards it. Total, 72 per cent of public shareholders voted in favour of the delisting scheme.
- Additionally learn:Establishments vote for ICICI Securities-ICICI Financial institution merger, retail traders resist
As per the merger scheme, shareholders of ICICI Securities would obtain 67 shares of ICICI Financial institution for each 100 fairness shares held in ICICI Securities.
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