MUMBAI (NewsRise) -- Shares of ICICI Securities listed at a steep discount on the Indian stock exchanges amid investor caution about its valuation and lingering concerns about authorities probing parent ICICI Bank's lending policy.
ICICI Securities, India's largest equity broker, opened trading as much as 17% lower than the issue price of 520 rupees ($8) on Wednesday, after its initial public offering raised a lower-than-expected $540 million last week.
