Updated February 28th, 2024 at 23:13 IST

SEBI issues administrative warning to ICICI Securities for merchant banking issues

ICICI Securities said there is no impact on financial, operation or other activities.

Reported by: Business Desk
Will move to same-day market settlement before FY24 end: SEBI | Image:SEBI
Advertisement

SEBI warning to ICICI Securities: The market regulator Securities and Exchange Board of India (SEBI) has issued an administrative warning to Brokerage house ICICI Securities Ltd, concerning its merchant banking activities, the company said on Wednesday. 

"This is to inform you that the Securities and Exchange Board of India (‘SEBI’) has issued an administrative warning to ICICI Securities Limited (‘the Company’) vide their letter dated February 28, 2024, which was received on the same day at 12:16 p.m. through e-mail," according to a stock exchange filing," 

Advertisement

In the stock exchange filing, ICICI Securities added, “This administrative warning does not have any immediate impact on the financial or operational activities of ICICI Securities. The company has stated that it will continue to operate in accordance with all applicable laws and regulations,”

On Wednesday, shares of ICICI Securities declined 1.89 per cent to close at Rs 806.70 on the BSE.

Advertisement

Published February 28th, 2024 at 23:13 IST