The LSE Directory / Retail brokers
ICICI Direct is the retail trading and investing platform operated by ICICI Securities Limited, part of the ICICI Bank Group. Its core product is a "3-in-1 account" that links an ICICI Bank savings account with a trading account and a demat account under one login, so funds move into a trade without a separate transfer step. Through this account, customers trade equities, derivatives, commodities and currency futures, and invest in mutual funds, IPOs, bonds, fixed deposits, ETFs, the National Pension System and REITs; ICICI Securities also distributes insurance as a licensed Composite Corporate Agent. ICICI Direct positions itself as a full-service broker rather than a discount broker: alongside order execution it bundles in-house equity research, relationship-manager support and physical branch access, priced on a percentage brokerage schedule (delivery trades quoted from 0.07%) rather than the flat per-order fees used by discount brokers such as Zerodha or Groww. It also offers Margin Trading Funding of up to 4x on eligible stocks and algorithmic and basket-order tools. Because ICICI Securities also runs private wealth management (portfolio management services and alternative investment funds), institutional broking and investment banking, the same brand spans a retail app and an institutional and wealth arm rather than being retail only. ICICI Securities was incorporated in 1995 and listed its shares on the BSE and NSE on 4 April 2018, following an offer for sale by parent ICICI Bank of about 7.82 crore shares at 520 rupees each; ICICI Bank retained roughly 76% of the company after listing. As of H1FY25 the company reported close to 9.5 million (95 lakh) registered clients served through a network of about 172 branches, with roughly 4% of NSE active client market share as of September 2024. It is registered with SEBI under registration number INZ000183631 and holds trading memberships on the NSE, BSE, the Metropolitan Stock Exchange and MCX. Current MD and CEO is T.K. Srirang, who succeeded Vijay Chandok in November 2024; Ajay Saraf and B. Prasanna serve as Executive Directors and Rakesh Jha chairs the board. ICICI Securities was delisted from the stock exchanges in March 2024 and reverted to a wholly owned subsidiary of ICICI Bank, after public shareholders approved a scheme swapping 67 ICICI Bank shares for every 100 ICICI Securities shares they held. Some minority shareholders, including Quantum Asset Management Fund, challenged the swap ratio as undervaluing the company, but the Supreme Court upheld the delisting in a ruling reported in May 2025. ICICI Direct therefore now operates as part of ICICI Bank's directly held securities business rather than as a separately listed company.
