The People's Bank of China raised its holding in India's biggest mortgage lender to more than a percent at a time the domestic equities tumbled amid the coronavirus outbreak.
The holding of China's central bank in Housing Development Finance Corporation Ltd. stood at 1.01 percent as of March, according to the latest shareholding disclosed by the Mumbai-based lender on the BSE. The PBOC held about 1.74 crore shares at the end of March.
According to listing regulations, the companies have to disclose public shareholding of more than 1 percent at the end of every quarter.
The PBOC held around 0.8 percent stake at the end of March 2019, said Keki Mistry, vice-chairman and chief executive officer at the non-bank lender, told BloombergQuint over the phone. It seems to have gradually increased its stake to more than 1 percent as of March 2020, he said.
The Chinese central bank is a registered foreign portfolio investor. While the Securities and Exchange Board of India's site showed it as a registered FPI, it didn't disclose the date of registration.
The shareholder base of HDFC has risen to 4.75 lakh at the end of March from 3.71 lakh investors as of December. The stock has lost 32 percent during the quarter and nearly 25 percent in March alone. That came as India's benchmark indices tracked the worst global selloff since the 2008 financial crisis after the pandemic stalled economic activities and the nation went into the world's biggest lockdown.
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