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Singapore's sovereign wealth fund Temasek is likely to further increase its investments in Indian equities, Singapore High Commissioner Simon Wong said following the successful conclusion of the fourth India-Singapore Ministerial Roundtable.
Wong, in a post on his official X account, said Temasek has been a consistent net buyer of Indian stocks and is likely to continue its investment streak following the successful conclusion of the fourth India-Singapore Ministerial Roundtable. "Temasek has been a consistent net buyer of Indian stocks. They will be on an even hotter streak after the successful conclusion of the 4th India-Singapore Ministerial Roundtable," Wong said. Temasek-backed logistics and e-commerce enablement platform Shiprocket made a strong debut on Indian stock exchanges on Wednesday, listing at Rs 131 per share, a premium of 35 per cent over its IPO price of Rs 97. At the time of reporting, the stock was trading at around Rs 143.34, up 0.81 per cent. The Rs 1,617.5-crore Shiprocket IPO was subscribed 99.38 times, reflecting strong investor demand. Temasek was an existing investor in the company and did not sell its stake in the IPO. Another Temasek-backed Indian company, Milky Mist Dairy Food, also made its stock market debut earlier this week. The dairy company raised Rs 465.3 crore from 19 anchor investors ahead of its IPO, with Zulia Investments Pte Ltd, a subsidiary of Temasek, among the anchor investors. Temasek had also invested in Milky Mist through its subsidiary Jongsong Investments in a pre-IPO funding round. The round involved a primary investment of Rs 357 crore and a secondary share purchase of Rs 125 crore, taking the total transaction value to about Rs 482 crore. At the time of reporting, Milky Mist was trading at around Rs 191.80 per share, up 4.10 per cent. The fourth India-Singapore Ministerial Roundtable (ISMR) was held in Singapore on August 20. Under the India-Singapore Comprehensive Strategic Partnership, the two sides discussed expanding cooperation in advanced manufacturing, connectivity, digitalisation, healthcare, skill development and sustainability. The discussions also covered emerging areas for greater collaboration, including the green economy, industrial parks, food security, fintech, semiconductors and green shipping. Both the countries reviewed progress on initiatives related to UPI-PayNow connectivity, generic medicines, food exports, skilling, semiconductors and green hydrogen. The Food Safety and Standards Authority of India (FSSAI) and the Singapore Food Agency (SFA) signed an MoU on cooperation in food safety. The agreement will facilitate the exchange of technical information and help promote bilateral trade in agricultural and food products. Singapore emerged as India's largest source of foreign direct investment (FDI) in FY2025-26, accounting for USD 19.8 billion in inflows, according to the Commerce Ministry. Cumulative FDI from Singapore stood at USD 194.68 billion between April 2000 and March 2026. Bilateral trade between India and Singapore has also expanded significantly, rising from USD 6.7 billion in FY2004-05 to USD 36.1 billion in FY2025-26, according to the ministry. (ANI)
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