Government of Singapore raises stake in ICICI Bank

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

This takes the stake of the Government of Singapore in the bank to 13.2 per cent. As of the quarter ended, it had 2.12 per cent stake in the private lender, according to the data on the BSE website.

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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 per cent 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 equity share.

(IANS)