New Delhi: Amid border tensions between India and China and the ‘boycott Chinese movement’ called across the country, China’s central bank, People’s Bank of China made an investment in the ICICI Bank.
The Chinese bank has emerged as one of the investors in ICICI Bank’s Rs 15,000 crore capital raising exercise which ended last week. The Chinese bank signed a cheque of Rs 15 crore in the private bank, Business Today reported.
The Chinese central bank also said it completed the issuance of 41.89 crore equity shares at an issue price of Rs 358 per unit.
After Chinese central bank’s investment, share price of ICICI Bank touched an intraday high of Rs 365.90, rising 1.13% on BSE. On Monday, ICICI Bank scrip closed at Rs 360.25 on BSE. The stock has gained after 2 days of consecutive fall.
People’s Bank of China (PBOC) was on the list of 357 institutional investors who subscribed to the qualified institutional placement (QIP), injecting Rs 15 crore into ICICI Bank, Business Today reported.
Earlier this year, the Chinese central bank’s investment in mortgage lender HDFC Ltd created a flutter in the Indian market. People’s Bank of China increased its stake in HDFC Ltd to over 1 per cent in March.