People’s Bank of China (PBoC) has entered the exclusive club of foreign portfolio investors (FPIs) with over one per cent stake in Housing Development Finance Corporation Ltd (HDFC) as at March-end 2020 .
PBoC, which is China’s central bank, now owns 1.01 per cent (or 1,74,92,909 equity shares) in India’s largest standalone housing finance company.
At Friday’s closing price of ₹1,701.95 apiece, the value of PBoC’s shareholding in HDFC is ₹2,977 crore.
According to reports, Chinese financial institutions are picking up stakes in companies across the world. This comes at a time when majority of the countries are reeling under the impact of Covid-19 pandemic, which originated in China’s Wuhan province.
The FPIs holding more than one per cent stake in HDFC as at March-end 2020 are: Invesco Oppenheimer Developing Markets Fund (3.33 per cent); Government of Singapore (3.23 per cent); Vanguard Total International Stock Index Fund (1.74 per cent); Vanguard Emerging Markets Stock Index Fund (1.47 per cent); Government Pension Fund Global (1.11 per cent); EuroPacific Growth Fund (1.09 per cent); Stitching Depository APG Emerging Markets Equity Pool (1.07 per cent); and PBoC (1.01 per cent).