Singapore central bank holds 11% of ICICI Bank’s Rs 15,000 crore QIP

Singapore central bank holds 11% of ICICI Bank’s Rs 15,000 crore QIP

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Mumbai: Singapore’s central bank, Monetary Authority of Singapore Has emerged the largest investor in ICICI BankEligible institutional placement of 4.6 crore shares worth Rs 1,662 crore, which is more than 11% of the issue size. Is the second largest investor Morgan Stanley Investment management with investment of 1,086 crores after French bank Societe Generale Which has bought 2.3 crore shares for 832 crore rupees.
On Saturday, ICICI Bank announced that it has successfully earned Rs 15,000 crore by issuing equity at a rate of Rs 358 per share under a qualified institutional placement. The issue price was fixed at Rs 358 per equity share, at a premium of Rs 356 per unit. The bank’s board, which met on Saturday, approved the allocation of shares. The issue opened on August 10, 2020 and closed on August 14, 2020.
“The proceeds of this issue will be used to strengthen the bank’s capital adequacy ratio and improve its competitive position and / or general corporate requirements or any other purpose as may be acceptable under applicable law and approved by the Board. Can go, ”the bank said in a statement.
The Singapore government, through both its investment arm GIC and the Currency Authority of Singapore, has been a major investor in the Indian capital markets. In November, the Singapore government and its monetary authority invested more than Rs 900 crore in Zee Entertainment Limited.
Indian lenders taking advantage of sufficient liquidity in the capital market to issue equity and raise capital of confidence may be due to tensions among borrowers due to the Kovid-19 economic crisis. So far, Indian private lenders have raised more than Rs 50,000 crore.

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