Brokerage house ICICI Securities Ltd on Friday (March 22) said it has received an administrative warning from the Securities and Exchange Board of India (SEBI) regarding its Merchant Banking activities. The warning was issued through an email dated March 22, 2024, which the company received at 4:06 PM.
The warning comes in connection with SEBI's inspection of the books and records related to ICICI Securities' Merchant Banking activities, conducted in December 2023. Despite the warning, ICICI Securities has clarified that there will be no impact on its financial, operational, or other activities.
In February 2024, ICICI Securities said SEBI had issued an administrative warning to the company regarding merchant banking activities. This administrative warning does not have any immediate impact on the financial or operational activities of ICICI Securities.
"The warning has been issued in connection with the inspection of books and records for the Merchant Banking activities of the company. There is no impact on the financial, operation or other activities of the company pursuant to the above-mentioned administrative warning letter," the company added.
ICICI Securities reported a 66% year-on-year jump in profit after tax (PAT) to ₹465.7 crore in the three months ended December 2023. In comparison, the company had posted a PAT of ₹280.9 crore in the October-December quarter of the preceding fiscal year (FY23).
The company registered a revenue of ₹1,323.3 crore in the quarter under review, marking a 50% year-on-year (YoY) surge from ₹879.9 crore in the three months ended December 31, 2022. Overall, the client's assets stood at ₹6.9 lakh crore in the three months ended December 31, 2023, an increase of 16% on a yearly basis.
Shares of ICICI Securities Ltd ended at ₹752.45, down by ₹8.35, or 1.10% on the BSE.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
2024 Lok Sabha Elections | What does a low voter turnout indicate for NDA and I.N.D.I.A Bloc
Apr 29, 2024 5:48 AM
'Borrowed' leaders: Congress hits out at AAP for not fielding their own candidates in Punjab
Apr 28, 2024 9:53 PM
EC asks AAP to modify election campaign song and Kejriwal's party is miffed
Apr 28, 2024 9:25 PM