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02 Nov 2021

ICICIdirect cautions its customers on fake research reports using its name

Mumbai, November 2, 2021

It has come to our notice that fake research reports in the name of ICICIdirect are being circulated in the market to mislead gullible investors in making inappropriate investment decisions. These reports are following the same design template as our official reports and/or infringing our trademarks, thereby, making it tough for the investors to differentiate.

While we are taking necessary actions with the help of authorities to trace the origin and take down these reports being posted on some websites, the investors are also advised to excercise abundant caution in making their investment decisions based on reports whose origin may be of suspect.

ICICIdirect reports are available at no extra cost on www.icicidirect.com for its customers and the investors are advised not to trust reports received from unknown and dubious sources.

ICICIdirect's research team is amongst the most reputed and strongest on the street, tracking over 350 companies.

About ICICI Securities

ICICI Securities Limited (I-Sec) is a subsidiary of ICICI Bank Ltd. The Company began its operations in May 1995 and continues to grow its operation through expanding its client base and providing different types of services.

I-Sec operates www.icicidirect.com, India's leading virtual financial supermarket, meeting the three need sets of its clients - investments, protection, and borrowing. Through its four lines of businesses -- broking, distribution of financial products, wealth management and investment banking, I-Sec serves customers ranging from the retail and institutional investors to corporates to high net-worth individuals to government.

I-Sec is listed on National Stock Exchange of India Limited (NSE) and the BSE Limited (BSE). For details, visit: www.icicisecurities.com

Disclaimer:

Except for the historical information contained herein, statements in this release which contain words or phrases such as 'will', 'expected to', etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the actual growth in broking business and other financial services in the countries that we operate or where a material number of our customers reside, our ability to successfully implement our strategy, including our use of the internet and other technology, our exploration of merger and acquisition opportunities, our ability to integrate mergers or acquisitions into our operations and manage the risks associated with such acquisitions to achieve our strategic and financial objectives, our growth and expansion in domestic and overseas markets, technological changes, our ability to market new products, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions we are or become a party to, the future impact of new accounting standards, our ability to implement our dividend policy, the impact of changes in insurance regulations and other regulatory changes in India and other jurisdictions on us. ICICI Securities Limited undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

For further details, contact:

ICICI Securities Ltd.
Rabin Ghosh
rabin.ghosh@icicisecurities.com
Adfactors PR Ltd.
Harsh Trivedi
harsh.trivedi@adfactorspr.com
+91 9821631379