ICICI Securities-ICICI Bank Ltd Acquisition Announcement

1. After the biggest merger of HDFC BANK ltd, ICICI Bank the second largest bank of the country has also announced their acquisition of its subsidiary ICICI securities.
2. The acquisition was mainly driven by the improve coordination and synergy between the two business as delisting ICICI Securities enables ICICI Bank to streamline its operations and combine its financial services businesses.
3. The delisting will be done through a share swap instead of cash pay-out and the shareholders of ICICI Securities will get shares of ICICI Bank in the ratio of 67:100 which means the shareholders of ICICI Securities would be allotted 67 equity shares of ICICI Bank for every 100 equity shares of ICICI Securities.
4. For example, if you hold 150 ICICI Securities Ltd shares, you will receive 67 ICICI.
   Bank shares against 100 ICICI Securities Ltd shares. The value of remaining 50 shares will be credited to your account.
5. Equity shares held by the public shareholders of Company will be cancelled and the equity shares of the Company shall be deemed to be delisted.
6. All employees holding employees stock options and employees stock units in ICICI Securities, will receive employee stock options and employee stock units, as
   applicable, from ICICI Bank.
7. As of now the company has stated that delisting process will take around within a year.

NOTE: This report is intended for informational purposes only and should not be considered as financial advice. Investors should conduct their own research and consult with financial advisor before making any investment decisions.