Monday, March 19, 2018

LTCG will have marginal impact on our business: #ICICI Securities ahead of its #IPO

The price band for ICICI Securities IPO has been fixed from Rs 519 to Rs 520 per equity share and the company is offering of over 7.72 crore equity shares of face value of Rs 5 each.

'The return of  long-term capital gains tax (LTCG) for equities and equity mutual funds in Budget 2018 will have marginal impact on our business,' said Anupam Guha Head of Private Wealth Management, ICICI Securities Limited at an IPO roadshow  in Bengaluru today

ICICI Securities is currenly focusing on distribution of financial products like mutual funds,insurance  to diversify its revenue mix.Its brokerage income has grown but other incomes grew at a faster rate.The company posted net profits after tax (PAT) to the tune of Rs. 337 crore in 2017 against Rs. 235.7 crore a year ago. The company had total assets to the tune of Rs. 2040 crore at the end of March 2017 against Rs. 1,392 crore a year ago.The proceeds from the offer will be headed to the bank.