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Showing posts with the label Qualified Institutional Placement

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How to Pick Mutual Funds That Beat the Market

  Smart Strategies for Investing in Mutual Funds: A Guide to Maximising Your Returns One of the most well-liked investing options for people looking for expert management and diversification without having to choose individual equities is a mutual fund. One of the easiest ways for people to accumulate wealth over time is through mutual fund investments. Mutual funds combine the capital of numerous individuals to invest in a diverse portfolio of stocks, bonds, and other securities, in contrast to direct stock market investing, which necessitates considerable time, study, and risk tolerance. Mutual funds are a well-liked option for both new and experienced investors due to their expert management and diversification. But merely investing in a mutual fund and crossing your fingers seldom yields the best outcomes. A comprehensive approach that matches the appropriate fund selection and management strategies with your financial objectives, risk tolerance, and investment timeline is nece...

Chinese government bank bought stake in ICICI Bank among 'Boycott China'

  There is tension in the country about China. Amid the boycott of Chinese goods and the anti-China environment, the news is that People's Bank of China has bought a stake in ICICI. However, experts say that this does not pose any threat to the national interest.   In March last year, China's central bank increased its investment in HDFC to over 1 per cent. Then there was a lot of ruckus on it. People's Bank of China is among the 357 institutional investors including mutual funds, insurance companies who have recently invested Rs 15,000 crore in ICICI Bank's Qualified Institutional Placement (QIP) offer. ICICI Bank tried to raise money from institutional investors to raise capital and its target was met only last week.   People's Bank of China has invested just Rs 15 crore in ICICI and this investment has come through qualified institutional placements. Other foreign investors include the Government of Singapore, Morgan Investment, Societe Generale, etc. Exp...

Singapore government hikes stake in ICICI Bank | Increased from 2.12% to 13.2%

  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...

ICICI Bank announces QIP of equity shares, floor price @ Rs 351.36 per share

  Private sector ICICI Bank on Monday announced a Qualified Institutional Placement for equity shares. The bank has set a minimum floor price of QIP at Rs 351.36 per share. The board of ICICI Bank will meet on August 14 to decide the issue price of QIP. ICICI Bank said in a stock exchange filing, 'The meeting of the Issues Committee of the Board of Directors of the bank has been held on Friday, 14 August 2020. This meeting has been held to determine the issue price of equity shares after considering each other.   ICICI Bank received Rs 3,036 crore in the exchequer in the June quarter after the sale of 3.96 per cent stake in ICICI Lombard General Insurance and 1.50 per cent stake in ICICI Prudential Life Insurance. Significantly, HDFC Bank recently set a floor price of Rs 1,838.94 per share for its QIP issue with an aim to raise Rs 14,000 crore.   What is QIB, let's first know about it, QIP or Qualified Institutional Placement is largely a fundraising tool for the Stock Ma...