VBL, HDFC Bank, and 3 Other Stocks in Which Govt. of Singapore Reduced Stake in Q3

Synopsis: In Q3 FY26, the Government of Singapore exited its stake in PG Electroplast and Castrol India, while stake reductions were observed in Varun Beverages, Axis Bank, and HDFC Bank.

During Q3 FY26, the Government of Singapore reduced its equity holdings in select Indian listed companies, reflecting portfolio rebalancing and profit-booking decisions. Such stake changes by sovereign investors are closely tracked by the market, as they often signal shifts in global investment strategy, valuation considerations, or sectoral outlook. The reduction does not necessarily indicate concerns about fundamentals but highlights evolving capital allocation preferences amid changing market conditions.

Here are a few stocks in which the Government of Singapore exited its stake in Q3 FY26

PG Electroplast Limited

With a market capitalization of Rs. 17,047.79 crore, the shares of PG Electroplast Limited were currently trading at Rs. 597.50 per equity share, rising nearly 1 percent from its previous day’s close price of Rs. 591.60. 

In the Shareholding Pattern of December 2025, PG Electroplast Limited had a majority stake held by the promoters at 43.41 percent, foreign institutional investors at 10.59 percent, domestic institutional investors at 22.66 percent, the public at 23.06 percent, and others at 0.27 percent.

In this quarter, the Government of Singapore reduced its stake in the company from 1.34 percent (38.19 lakh shares) in September 2025 to less than 1 percent or exited in December 2025. Earlier, in June 2025, the Government of Singapore had acquired a 1.35 percent stake in PG Electroplast Limited, equivalent to 38,18,522 shares.

PG Electroplast Limited is engaged in electronics manufacturing services, offering end-to-end solutions including design, tooling, injection molding, PCB assembly, and product manufacturing for consumer electronics, appliances, and automotive segments.

Castrol India Limited

With a market capitalization of Rs. 18,605.39 crore, the shares of Castrol India Limited were currently trading at Rs. 188.10 per equity share, rising nearly 0.40 percent from its previous day’s close price of Rs. 187.35. 

In the Shareholding Pattern of December 2025, Castrol India Limited had a majority stake held by the promoters at 51 percent, foreign institutional investors at 9.69 percent, domestic institutional investors at 14.58 percent, and the public at 24.73 percent.

In this quarter, the Government of Singapore reduced its stake in the company from 1.33 percent (1.32 crore shares) in September 2025 to less than 1 percent or exited in December 2025. Earlier, in September 2024, the Government of Singapore had acquired a 1.75 percent stake in Castrol India Limited, equivalent to 1,73,11,409 shares.

Castrol India Limited manufactures and markets automotive and industrial lubricants, providing engine oils, greases, and fluids for passenger vehicles, commercial vehicles, and industrial machinery across India.

Here are a few stocks in which the Government of Singapore reduced its stake in Q3 FY26

Varun Beverages Limited

With a market capitalization of Rs. 1,70,638.24 crore, the shares of Varun Beverages Limited were currently trading at Rs. 504.55 per equity share, rising nearly 0.72 percent from its previous day’s close price of Rs. 500.95. 

In the Shareholding Pattern of December 2025, Varun Beverages Limited had a majority stake held by the promoters at 59.44 percent, foreign institutional investors at 20.31 percent, domestic institutional investors at 13.56 percent, and the public at 6.70 percent.

In this quarter, the Government of Singapore reduced its stake in Varun Beverages Limited from 1.84 percent in September 2025 to a 1.52 percent stake in December 2025, a decrease of 0.32 percent. This investment had a holding value of Rs. 2,543.9 crore and consisted of 5.14 crore shares.

Varun Beverages Limited is a key PepsiCo franchisee, producing, bottling, and distributing beverages like Pepsi, 7Up, Mirinda, Mountain Dew, and Tropicana across India and 14 countries. It operates large-scale plants with advanced technology, catering to retail, hospitality, and institutional channels while expanding into non-carbonated drinks.

Axis Bank Limited

With a market capitalization of Rs. 4,04,672.27 crore, the shares of Axis Bank Limited were currently trading at Rs. 1,303.20 per equity share, rising nearly 3.27 percent from its previous day’s close price of Rs. 1,261.90. 

In the Shareholding Pattern of December 2025, Axis Bank Limited had a stake held by the promoters at 8.16 percent, foreign institutional investors at 41.89 percent, domestic institutional investors at 42.87 percent, and the public at 7.06 percent.

In this quarter, the Government of Singapore reduced its stake in Axis Bank Limited from 1.92 percent in September 2025 to a 1.76 percent stake in December 2025, a decrease of 0.16 percent. This investment had a holding value of Rs. 6,701.2 crore and consisted of 5.28 crore shares.

Axis Bank Limited provides comprehensive banking services, including retail loans, deposits, credit cards, wealth management, corporate lending, and digital platforms like mobile banking and UPI. As a leading private sector bank, it serves individuals, SMEs, and large corporates with innovative financial products and NRI services across more than 5,965 branches.

HDFC Bank Limited

With a market capitalization of Rs. 14,35,150.29 crore, the shares of HDFC Bank Limited were currently trading at Rs. 933.30 per equity share, down nearly 0.42 percent from its previous day’s close price of Rs. 937.25. 

In the Shareholding Pattern of December 2025, HDFC Bank Limited had a major stake held by foreign institutional investors at 47.67 percent, domestic institutional investors at 37 percent, the government at 0.18 percent, and the public at 15.11 percent.

In this quarter, the Government of Singapore reduced its stake in HDFC Bank Limited from 2.46 percent in September 2025 to a 2.27 percent stake in December 2025, a decrease of 0.19 percent. This investment had a holding value of Rs. 28,585.5 crore and consisted of 30.31 crore shares.

HDFC Bank Limited offers retail and wholesale banking, including home loans, personal finance, savings accounts, insurance, mutual funds, and digital payments via apps and net banking. India’s largest private bank by market cap, it operates through over 9,545 branches, focusing on customer-centric services and technology-driven solutions.

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