The Hindu Business Line : Temasek buys 5.2% equity in ICICI Bank

THE Singapore-based investment holding company, Temasek Holdings (Pte) Ltd has acquired 5.2 per cent of the paid-up equity capital of ICICI Bank Ltd from the market.

The deal was done through the Tamasek's affiliate, Allamanda Investments Pte Ltd, a FII registered with the Securities and Exchange Board of India.

The acquisition of over 5 per cent stake has received approval from the board of the bank and the Reserve Bank of India, said a press release from the bank.

When contacted, the spokesperson of ICICI Bank said that details of price and identity of the seller were not known to them since it was a secondary market transaction.

Temasek Holdings, established in 1974, has as its sole shareholder the Ministry of Finance, Singapore. It holds and manages investments in companies, mostly in Singapore, which are involved in a wide range of businesses such as ports, shipping, logistics, banking, airlines, telecom, media, power and rail.

The listed companies in the Temasek Group represent approximately 21 per cent of the market capitalisation of the Singapore Exchange.

The bank's share price closed up 0.46 per cent higher at Rs 283 on BSE and 1.05 per cent higher at Rs 284.20 on NSE.

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