Singapore govt increases stake in ICICI Bank

Mumbai: The government of Singapore has increased its stake in ICICI Bank as it took up 11.08 percent stake of the total shares issued in the latest qualified institutional placement (QIP) of the bank’s shares with an investment of Rs 1,662.71 crore.

As of the quarter ended June, it had a 2.12 percent stake in the private lender, according to the data on the BSE website.

In a regulatory filing, the bank said that the government of Singapore was offered over 4.64 crore shares in the QIP amounting to 11.08 percent stake.

It emerged the largest investor in the latest qualified institutional placement of the bank’s shares.

ICICI Bank has raised nearly Rs 15,000 crore through the allotment of equity shares under its QIP. The bank issued around 41.9 crore equity shares at an issue price of Rs 358 per share.

(IANS)

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