Money & Banking

People’s Bank of China invests in ICICI Bank QIP

Our Bureau Mumbai | Updated on August 18, 2020

ICICI Bank Ltd.   -  Bloomberg

The People’s Bank of China is understood to have invested about ₹15 crore in private sector lender ICICI Bank’s recent ₹15,000-crore fund-raise.

ICICI Bank’s qualified institutional placement had opened on August 10 and closed on August 14. Investors who were allotted over five per cent of shares in the issue include Monetary Authority Of Singapore, Morgan Stanley Investment and Societe Generale ODI. Earlier, the PBoC had increased its stake in Housing Development and Finance Corporation to over one per cent, which had raised concerns about Chinese financial institutions holding stake in Indian companies. .

Published on August 18, 2020

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