India’s second-largest private lender ICICI Bank is facing backlash from some minority shareholders over the proposed delisting of its broking unit as they say the valuation is below its fair value. ICICI Bank, which owns nearly three-fourths stake in ICICI Securities, last year proposed a share-swap ratio in which investors of the broking unit will receive 67 shares of the parent lender for every 100 shares they own.
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India’s ICICI Bank Faces Shareholders’ Backlash Over ICICI Securities Delisting
