The Government of Singapore has expanded its stake in ICICI Bank as it took up 11.08 percent stake in the most recent qualified institutional arrangement (QIP) of the bank's offers with speculation of Rs 1,662.71 crore.
This takes the stake of the Government of Singapore in the bank to 13.2 percent. As of the quarter finished, it had 2.12 percent stake in the private bank, as per the information on the BSE site.
In an administrative recording, the bank said that the Government of Singapore was offered over 4.64 crore partakes in the QIP adding up to 11.08 percent stake. It rose the biggest speculator in the most recent qualified institutional situation of the bank's offers.
ICICI Bank has raised almost Rs 15,000 crore through the distribution of value shares under its QIP. The bank gave around 41.9 crore value shares at an issue cost of Rs 358 for each value share.