The Singapore government has
increased its stake in ICICI Bank. The government of Singapore invested Rs
1,662.71 crore in ICICI Bank's Qualified Institutional Placement (QIP) offer.
This increased his stake in the bank by 11.08 per cent. The Singapore
government previously held 2.12 per cent stake in ICICI Bank at the end of the
last quarter, according to BSE data. After the fresh investment, its stake in
the bank rose to a total of 13.2 per cent. In the information given to the
stock markets, the bank said that over 4.64 crore shares were offered to the
Singapore government in QIP, which is equivalent to 11.08 per cent stake of the
bank.
The Singapore government was the
largest investor in the bank's latest QIP. ICICI Bank has raised about Rs
15,000 crore by allocating shares under QIP. In this offer, the bank issued
around 41.9 crore shares at an issue price of Rs 358 per share.
The bank's shares closed at Rs 361.40,
down 1.81 per cent on the NSE on Friday. The bank's shares closed at Rs 541.75
on 17 February. The bank's shares closed at Rs 283.9 on the day of the historic
decline in the market on March 23 amid the coronavirus epidemic. Since then,
the bank's shares have gained around 27.3 per cent.
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