investment vehicle of singapore govt. bought in to this stock at $50 share offering. To bring their ownership to 20%. they were 10% owners for almost 6 or 8 yrs now.
at the share offering time, indian govt. regulation allows only ~10 or 15% foreign ownership of strategic banks.
singapore govt. fought tooth-and-nail and forced the laws to be amended.
it only takes another regulation to open the banking sector further and get these guys on the game again.
my humble advice: do not short this puppy!!! Unless you are a billion+ dollor hedge fund manager and want some fun with high/low trading or you have a pretty good idea that wholesale banking meltdown is near (which I do not discount totally either).