72% of shareholder votes favored the ICICI Securities-ICICI Bank merger. Concerns raised over alleged coercion of minority shareholders by ICICI Bank, prompting potential regulatory scrutiny on the voting process.
In its clarification, ICICI Securities said a concerted campaign against the delisting proposal, using social media and involving extensive outreach to retail shareholders was undertaken by those opposed to the proposed scheme.
India Business News: ICICI Securities to be ICICI Bank's wholly-owned subsidiary with 75% stake. Public holds 25%. Institutional investors support. Delisting planned. Shar