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Peoples Bank of China among 357 investors to acquire stake in ICICI Bank

The Chinese Central Bank subscribed to the recent ICICI Bank's Rs 15,000 crore capital QIP placement and invested Rs 15 crore

icici bank

The investment comes at a time when business and trade relations between India and China have nose-dived

IANS New Delhi
After the disclosure of a holding in HDFC, the Chinese central bank Peoples Bank of China has now acquired an equity stake in ICICI Bank.
The government had in April notified new norms for FDI investments by neighbouring countries which would require approvals. It is not clear if portfolio investments need to go through some vetting process or the government will continue with this open route till the time no FDI approval is required.
The investment by the Chinese central bank in ICICI Bank is modest. It subscribed to the recent ICICI Bank's Rs 15,000 crore capital qualified institutional investors (QIP) placement

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First Published: Aug 18 2020 | 2:46 PM IST

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