ICICI Bank may consider ICICI Securities delisting via share swap: Exclusive

Shares of ICICI Securities had listed in April 2018. The Rs 4,000 crore IPO had received a poor response as it was subscribed only 78 percent till during the three-day bidding process. When adjusted for the anchor allottment, the overall subscription rises to 87.9 percent.

The stock is now trading above its IPO price of Rs 520 but that's after an 7 percent move it saw on Friday. Shares have risen for three days in a row, during which it has gained over 12 percent. Friday's gains seen by the shares of ICICI Securities were the most in a single day in nearly a year.

35 percent of ICICI Securities' March quarter revenue came from cash broking (20 percent) and derivative broking (15 percent). The derivative broking revenue grew to Rs 117 crore in the March quarter from Rs 856 crore during the same period last year. It now forms 44 percent of the total retail broking component, compared to 26 percent last year.