The Singapore government and its investment arm, Temasek Holdings, have been gradually reducing stake in ICICI Bank, their one of their biggest investments in India, by selling shares in the secondary market.Their collective stake has come down to 7.29 per cent in the quarter ended September from nearly 9.27 per cent in the quarter ended June and 9.91 per cent in the quarter ended March, according to the latest shareholding pattern that the bank has filed with the National Stock Exchange.
Temasek Holdings, through its foreign institutional investor affiliate, Allamanda Investments, which presently holds 5.76 per cent in ICICI Bank, reduced its public shareholding by 1.85 per cent between first and second quarters of the financial year. The government of Singapore reduced its stake from 2.3 per cent in the quarter ended March to 1.66 per cent in the quarter ended June and to 1.53 per cent in the quarter ended September.
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Related:
Temasek cuts stake in India's ICICI to 5.76 pct - Reuters
Singapore government, Temasek pare stake in ICICI - Sify.com
