ICICI Securities Limited IPO

About Company

Incorporated in 1995, ICICI Securities Ltd is a leading technology-based securities firm in India that offers a wide range of financial services including brokerage, financial product distribution and investment banking and focuses on both retail and institutional clients.

They provide equity capital market products including initial public offerings (IPO), further public offerings, rights offerings, convertible offerings, qualified institutional placements, non-convertible debentures, buyback, delisting, and open offers and international offerings for unlisted and listed entities. They offers their services to corporates, financial institutions, high net-worth individuals, and retail investors.

The company operates ICICIdirect.com, an online broking platform for investors to invest in equity, derivatives, currency futures, mutual funds, and other financial products, as well as to access research information, stock picks, and mutual fund recommendations. As of September 30, 2017, ICICIdirect had approximately 3.8 million operational accounts of whom 0.7 million had traded on NSE in the preceding 12 months. Since inception, the company had acquired a total of 4.4 million customers through this platform as of September 30, 2017.

As on September 30, 2017, ICICI Securities' retail brokerage and distribution businesses consists of over 200 of our own branches, over 2,600 branches of ICICI Bank through which our electronic brokerage platform is marketed and over 4,600 sub-brokers, authorised persons, independent financial associates and independent associates.

Strengths of the company

1.   Largest Equity Broker in India Powered by Proprietary Technology Platform: ICICIdirect.

2.   Strong and Growing Distribution Business with an “Open-Source” Distribution Model.

3.  Superior Customer Experience through Product and Technology Innovation.

4.       Strategic Component of the ICICI Ecosystem.

5.       Leading Institutional Platform.

6.       Strong Financial Performance with Significant Operating Efficiency.

Company Promoters

1.       ICICI BANK LIMITED

Company financial

(Rs in millions)

Registrar to the issue

1.       Karvy computershare private limited

Lead Managers

1.       DSP Merrill Lynch Limited

2.       Citigroup Global Markets India Private Limited

3.       CLSA India Private Limited

4.       Edelweiss Financial Services Limited

5.       IIFL Holdings Limited

6.       SBI Capital Markets Limited

Objects of the Issue:

The objects of the Offer for the Company are to:

1.    Achieve the benefit of listing the Equity Shares on the Stock Exchanges and for the sale of Equity Shares by the Promoter Selling Shareholder;

2.  Listing of Equity Shares will enhance its visibility and brand image and provide liquidity to its existing shareholders.

Risk factors

1.  This being the first public issue of our Company, there has been no formal market for the Equity Shares.

2.  Investments in equity and equity-related securities involve a degree of risk and investors should not invest any funds in the Offer unless they can afford to take the risk of losing their investment.