The Hindu Business Line : FII holding in Indian Bank on the rise

The Government of Singapore holds 2.55 per cent of the bank's shares. The Monetary Authority of Singapore (MAS), Singapore's central bank, holds another 1.4 per cent. Together, they hold close to 4 per cent stake in Indian Bank, or roughly 20 per cent of the bank's floating stock.

The Singaporeans are in good company, for the FII holding in the bank has been rising. On February 23, the day the public-issued shares were allotted, FII holding in the bank was 6.83 per cent.

As on April 13, FII holding stood at 11.68 per cent, which is more than half the floating stock of the bank. But this is only one part of the story.

The other is that the resident individual holding in the bank is only 5.5 per cent. NRIs hold 0.08 per cent, which means that along with FII holding, the total foreign holding in Indian Bank is 11.76 per cent. Indian corporates, banks and mutual funds hold another 2.45 per cent.

Sources in stock broking circles say that the buying continues, in anticipation of good results from the bank. Sources in the bank have confirmed the "excellent performance" but declined to give results, pending the board meeting on April 23.

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