When ICICI Bank, the holding company of ICICI Securities, announced its decision to list the latter in 2018, it came as a surprise to everyone. Since the IPO, there has just been a marginal increase in the company’s market share, especially on the trading volumes front, while in the other businesses it has just about been sustaining the overall market share. These numbers place I-Sec as an underperformer among ICICI Bank’s listed subsidiaries. Usually, the board proposes delisting when there is a consensus that the stock market is undervaluing the company. Trading at 15x trailing 12-months earnings, I-Sec stock commands a premium over its peers.

Source: The Hindu June 27, 2023 18:37 UTC