Temasek, Singapore Investment apply for nearly 40-per cent stake in ICICI Bank

21 Jun 2007

1
Temasek Holdings, the investment of the Singaporean government under the full ownership of finance ministry and global real investor, Government of Singapore Investment Corp (GIC), have applied to raise their combined stake in ICICI Bank to almost 40 per cent, in the $4.9 billion follow-on public issue of the Indian bank.

Temasek, which owns 7.37 in the bank, is reported to have put in a bid for shares worth about $2 billion (approximately Rs8,150 crore). GIC, owns another 2.24-per cent stake in ICICI Bank.

The two state investors reported to have lobbied the Indian government to lift the investment ceiling of 10-per cent combined stake holding in Indian banks and according to media reports earlier this week, the Reserve Bank of India is expected to treat Temasek and the GIC as separate entities for their investments in Indian banks.

Merrill Lynch and Goldman Sachs are lead managers for the global share offering.

 

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers