ICICI Securities on Thursday announced that its board of directors has approved a draft scheme of arrangement for delisting of the company's equity shares.

“The public shareholders of the company would be allotted 67 equity shares of ICICI Bank for every 100 equity shares of the company,” ICICI Securities informed stock exchanges.

“The scheme is subject to receipt of requisite approvals from ICICI Bank and the company’s shareholders’ and creditors, Reserve Bank of India, National Company Law Tribunal, stock exchanges and other regulatory and statutory authorities, under applicable law,” it added.