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Quantum Asset Management Co, the investment manager to Quantum Mutual Fund, has filed a petition in the National Company Law Tribunal, Ahmedabad bench, against ICICI Securities Ltd and ICICI Bank Ltd raising objections to the scheme of arrangement for delisting the equity shares of the brokerage firm, according to the fund house. As per the delisting scheme, the bank will issue 67 shares for every 100 shares of the brokerage held by public shareholders. The scheme of arrangement envisages the cancellation of around 25.2% shares of ICICI Securities held by public shareholders and making it a wholly owned subsidiary of ICICI Bank.
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