ICICI Securities Limited (ICICI Securities)

- leading investment bank of India.

History:
A subsidiary of ICICI Bank, ICICI Securities was set up in February 1993 to provide investment-banking services to investors in India. As on date ICICI Bank holds 99.9% of the share capital of ICICI Securities.

Overview:
ICICI Securities is a strongly positioned investment bank in India and provides products and services in Fixed Income, Equities and Corporate Finance. In the fixed income business ICICI Securities is a leading market participant in the country. ICICI Securities fixed income activities include interest rate trading, derivatives trading, research and issue management.

The Corporate Finance business focuses on industry consolidation. ICICI Securities has been involved in a number of mergers, cross border acquisition, equity and bidding for a number of reputed companies. The equity business offers research, sales and execution services to institutional investors in the secondary market and capital market related services such as execution of public offerings, structuring and regulatory and legal documentation services.

In order to assist/provide corporate clients and institutional investors with investment banking services in the United States of America, ICICI Securities has set up two subsidiaries namely, ICICI Securities Holdings Inc and ICICI Securities Inc, ICICI Securities Inc, has become the registered broker dealer with the National Association of Securities Dealers Inc, empowering it to engage in a variety of securities transactions in the U.S. market.

ICICI Brokerage Services Limited, a member of the National Stock Exchange of India Limited, is the domestic broking subsidiary of ICICI Securities.

Year in review:
ICICI Securities is amongst the largest arranger of funds in Debt and Equity segments and also amongst the leading advisors in Mergers and Acquisitions. Its clients include a wide range of Indian and foreign corporations and institutional investors.

ICICI Securities continued to maintain its leadership position in the industry and delivered a remarkable performance. ICICI Securities net worth was Rs. 3.51 billion, an increase of 10.03% over the previous year. ICICI Securities was placed as a No. 1 advisor for M&As in India, with closure of 4 deals aggregating to US $ 142.47 million (This is as per recent rankings published by Bloomberg for the first quarter of 2003).

ICICI Securities raised Rs. 6.7 billion through initial public offerings (IPOs).

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