The government of Singapore has picked up close to 8 per cent in ICICI Bank and has also raised its holding in HDFC Bank by almost 1.5 per cent.
The Singapore government along with the Monetary Authority of Singapore (MAS), Board of Commissioners of Currency of Singapore (BCCS) collectively picked up 7.8 per cent through Government of Singapore Investment Corporation Pte Ltd (SICPL) which acts on behalf of the government.
The Singapore government bought around 5.14 per cent in ICICI Bank, MAS another 2.1 per cent and the BCCS some 0.61 per cent, adding up to 7.8 per cent.
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Singapore along with MAS and BCCS had picked up 6.32 per cent in HDFC Bank in July last year through SICPL on the New York Stock Exchange (NYSE) of which around 1.5 per cent was offloaded.
The three entities now hold close to 4.99 per cent in the bank. The government of Singapore, however, bought some 3 per cent in HDFC Bank where it is classified as foreign institutional investor outside the New York Stock Exchange.
The government of Singapore at present holds 3.88 per cent, while MAS holds around 1.11 per cent on NYSE. BCCS which held 0.13 per cent has offloaded its entire stake in HDFC Bank.
SLAC Mauritius Ltd also bought some 4.31 per cent in HDFC Bank, while Emerging Markets Growth Fund Inc increased its stake from 1.8 per cent to 2.52 per cent. Institutional investors overall enhanced their stake in HDFC Bank by 4 per cent to 26.48 per cent.
Approximately, 13.31 per cent of the HDFC Bank