SEBI issues administrative warning to ICICI Securities for inspection of merchant banking activities

Market regulator Securities and Exchange Board of India (SEBI) has issued an administrative warning to ICICI Securities Limited for inspection of books and records for Merchant Banking activities, the company said on Wednesday. The warning was issued through a letter dated February 28, which was received on the same day at 12:16p.m. through an e-mail, the firm said.

"The warning has been issued in connection with the inspection of books and records for the Merchant Banking activities of the Company," ICICI Securities said in a regulatory filing. "There is no impact on financial, operation or other activities of the Company pursuant to the above-mentioned administrative warning letter."

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