ICICI Securities' Retail Distribution Head Quits; Exchange Filing Reveals
The resignation will take effect from the close of business hours on April 12, 2024.
ICICI Securities on Friday said Kedar Deshpande, head of retail distribution, has resigned from the brokerage firm to pursue alternate career opportunities.
The resignation will take effect from the close of business hours on April 12, 2024.
ICICI Securities In The Process Of Delisting
"Kedar Deshpande, Head - Retail Distribution (within the category of senior management in the Company), vide letter dated March 28, 2024, has tendered his resignation from the services of the company," ICICI Securities said in a regulatory filing.
ALSO READ
In his letter to ICICI Securities Managing Director and CEO Vijay Chandok, Deshpande said: "I wish to resign from the company to pursue alternate career opportunities outside the ICICI Group".
ICICI Securities is currently in the process of delisting itself from the stock exchanges. The brokerage firm would be merged with its promoter ICICI Bank after successful delisting.
ALSO READ
ICCI Holds Majority Stock
ICICI Bank currently holds a 74.77 per cent stake in ICICI Securities.
ICICI Securities had on Thursday informed the stock exchanges that about 72 per cent of its shareholders voted in favour of delisting, even though a majority of retail shareholders opposed the move.
ALSO READ
In a voting on March 27, 83.8 per cent of ICICI Securities' institutional investors voted in favour of the scheme, while 67.8 per cent of retail investors voted against it. Overall, 72 per cent of public shareholders voted in favour of the delisting scheme.
As per the merger scheme, shareholders of ICICI Securities would receive 67 shares of ICICI Bank for every 100 equity shares held in ICICI Securities.
RECENT STORIES
-
Bombay High Court Fines Developer ₹5 Lakh For Delay In Slum Rehab Scheme -
Maharashtra Lok Sabha Elections 2024: CM Eknath Shinde, Amit Shah Trains Guns On Thackeray During... -
Mumbai News: Thane Court Evicts Villagers, Says Forests Must Be Protected -
CBSE Class 12 Results: Toppers’ Success Mantra; Consistency, Hard Work & Self-Belief -
Mumbai: Traffic Disrupted Due To Rain, Dust Storm, Accidents And Hoarding Collapse