ICICI ||China Bank invests in ICICI||
The Peoples Bank of China has picked up a 0.0065% stake in ICICI Bank after investing Rs 15 crore, ANI reported on Tuesday. The investment was carried out under ICICI Banks Rs 15,000 crore qualified institutional placement exercise, which concluded last week.
The Chinese bank was among 357 institutional investors, including mutual funds, insurance companies and global institutions that subscribed to the issue, an unidentified official said. The prominent investors were Government of Singapore, Morgan Investment and multinational investment bank Societe Generale.
The Peoples Bank of China earlier had investments only in the United States and Europe, Business Today reported. In March, it increased its stake in home loan lender HDFC Limited to over 1%. This had created a controversy in India, with the government tightening norms for Foreign Direct Investment in India from neighbouring countries, with a view to curb opportunistic takeovers or acquisitions of Indian companies.
About SocialNewsXYZ
An Indo-American News website. It covers Gossips, Politics, Movies, Technolgy, and Sports News and Photo Galleries and Live Coverage of Events via Youtube. The website is established in 2015 and is owned by AGK FIRE INC.
ICICI ||China Bank invests in ICICI|| The Peoples Bank of China has picked up a 0.0065% stake in ICICI Bank after investing Rs 15 crore, ANI reported on Tuesday. The investment was carried out under ICICI Banks Rs 15,000 crore qualified institutional placement exercise, which concluded last week. The Chinese bank was among 357 institutional investors, including mutual funds, insurance companies and global institutions that subscribed to the issue, an unidentified official said. The prominent investors were Government of Singapore, Morgan Investment and multinational investment bank Societe Generale. The Peoples Bank of China earlier had investments only in the United States and Europe, Business Today reported. In March, it increased its stake in home loan lender HDFC Limited to over 1%. This had created a controversy in India, with the government tightening norms for Foreign Direct Investment in India from neighbouring countries, with a view to curb opportunistic takeovers or acquisitions of Indian companies.