Government of Singapore Portfolio: Net Worth and Bulk Deals

Latest Government of Singapore Stock Portfolio & Holdings (2026)
Government of Singapore Portfolio Stock Screener
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| NameStocks (50)↓ | ↓Sub-SectorSub-Sector↓ | ↓Market CapMarket Cap↓ | ↓Close PriceClose Price↓ | ↓PE RatioPE Ratio↓ | ↓1D Return1D Return↓ | ↓1M Return1M Return↓ | ↓6M Return6M Return↓ | ↓1Y Return1Y Return↓ | ↓PB RatioPB Ratio↓ | ↓Return on EquityReturn on Equity↓ | ↓ROCEROCE↓ | ↓Dividend YieldDiv Yield↓ | ↓Debt to EquityDebt to Equity↓ | ↓Volatility vs NiftyVolatility vs Nifty↓ | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | HDFC Bank LtdHDFCBANK | Private BanksPrivate Banks | 12,28,582.5012,28,582.50 | 780.45780.45 | 17.3517.35 | -2.22-2.22 | -14.71-14.71 | -19.06-19.06 | -11.75-11.75 | 2.282.28 | 14.0514.05 | 5.705.70 | 1.371.37 | 0.000.00 | 1.241.24 | |
| 2. | ICICI Bank LtdICICIBANK | Private BanksPrivate Banks | 8,94,930.358,94,930.35 | 1,245.401,245.40 | 17.5417.54 | -0.38-0.38 | -10.54-10.54 | -11.14-11.14 | -5.77-5.77 | 2.722.72 | 17.0417.04 | 7.247.24 | 0.880.88 | 0.000.00 | 1.311.31 | |
| 3. | Bajaj Finance LtdBAJFINANCE | Consumer FinanceConsumer Finance | 5,17,324.275,17,324.27 | 830.55830.55 | 31.0931.09 | -0.20-0.20 | -18.14-18.14 | -17.48-17.48 | -4.31-4.31 | 5.235.23 | 18.9518.95 | 5.185.18 | 0.670.67 | 3.653.65 | 2.002.00 | |
| 4. | Axis Bank LtdAXISBANK | Private BanksPrivate Banks | 3,75,101.913,75,101.91 | 1,203.901,203.90 | 13.3713.37 | -0.26-0.26 | -11.14-11.14 | 5.205.20 | 14.1814.18 | 2.002.00 | 16.2516.25 | 7.547.54 | 0.080.08 | 0.000.00 | 1.711.71 | |
| 5. | Mahindra and Mahindra LtdM&M | Four WheelersFour Wheelers | 3,65,591.983,65,591.98 | 3,066.103,066.10 | 28.2828.28 | 0.680.68 | -10.97-10.97 | -14.47-14.47 | 8.428.42 | 3.923.92 | 14.9714.97 | 15.1715.17 | 0.770.77 | 1.341.34 | 1.931.93 | |
| 6. | NTPC LtdNTPC | Power GenerationPower Generation | 3,62,703.803,62,703.80 | 380.95380.95 | 15.4915.49 | 1.841.84 | 4.204.20 | 12.3112.31 | 11.4711.47 | 1.901.90 | 13.1513.15 | 10.7710.77 | 2.232.23 | 1.311.31 | 1.431.43 | |
| 7. | UltraTech Cement LtdULTRACEMCO | CementCement | 3,18,080.503,18,080.50 | 10,934.0010,934.00 | 52.6752.67 | 1.111.11 | -13.43-13.43 | -13.57-13.57 | -0.13-0.13 | 4.304.30 | 9.009.00 | 9.069.06 | 0.720.72 | 0.330.33 | 1.541.54 | |
| 8. | Bharat Electronics LtdBEL | Electronic EquipmentsElectronic Equipments | 3,14,905.273,14,905.27 | 426.10426.10 | 59.1859.18 | -1.09-1.09 | -2.62-2.62 | 4.854.85 | 43.4443.44 | 15.7515.75 | 29.2929.29 | 33.7533.75 | 0.560.56 | 0.000.00 | 2.052.05 | |
| 9. | Power Grid Corporation of India LtdPOWERGRID | Power Transmission & DistributionPower Transmission & Distribution | 2,75,948.922,75,948.92 | 297.60297.60 | 17.7817.78 | 0.300.30 | -0.02-0.02 | 3.823.82 | 6.156.15 | 2.982.98 | 17.2617.26 | 12.4012.40 | 3.033.03 | 1.411.41 | 1.681.68 | |
| 10. | Hindalco Industries LtdHINDALCO | Metals - AluminiumMetals - Aluminium | 2,00,569.202,00,569.20 | 874.25874.25 | 12.5312.53 | -2.54-2.54 | -3.61-3.61 | 17.2417.24 | 23.8423.84 | 1.621.62 | 13.9213.92 | 12.9612.96 | 0.560.56 | 0.520.52 | 2.122.12 | |
| 11. | SBI Life Insurance Company LtdSBILIFE | InsuranceInsurance | 1,90,898.461,90,898.46 | 1,896.901,896.90 | 79.1079.10 | -0.33-0.33 | -7.25-7.25 | 2.112.11 | 26.6026.60 | 11.2411.24 | 15.1315.13 | 0.600.60 | 0.140.14 | 0.000.00 | 1.411.41 | |
| 12. | Eicher Motors LtdEICHERMOT | Trucks & BusesTrucks & Buses | 1,86,341.641,86,341.64 | 6,909.006,909.00 | 39.3639.36 | 1.711.71 | -13.06-13.06 | -0.53-0.53 | 32.1232.12 | 8.758.75 | 24.0724.07 | 26.1426.14 | 1.031.03 | 0.020.02 | 1.711.71 | |
| 13. | Shriram Finance LtdSHRIRAMFIN | Consumer FinanceConsumer Finance | 1,78,711.081,78,711.08 | 938.60938.60 | 18.7118.71 | -1.18-1.18 | -11.24-11.24 | 49.4949.49 | 40.5340.53 | 3.163.16 | 18.0018.00 | 4.354.35 | 1.041.04 | 4.154.15 | 2.462.46 | |
| 14. | Interglobe Aviation LtdINDIGO | AirlinesAirlines | 1,60,610.351,60,610.35 | 4,149.104,149.10 | 22.1322.13 | -0.13-0.13 | -13.73-13.73 | -27.81-27.81 | -18.43-18.43 | 17.1417.14 | 127.74127.74 | 15.5815.58 | 0.240.24 | 7.137.13 | 2.092.09 | |
| 15. | Divi's Laboratories LtdDIVISLAB | Labs & Life Sciences ServicesLabs & Life Sciences Services | 1,58,551.111,58,551.11 | 6,100.006,100.00 | 72.3672.36 | 2.132.13 | -2.91-2.91 | 0.120.12 | 4.774.77 | 10.5910.59 | 15.3515.35 | 18.8718.87 | 0.500.50 | 0.000.00 | 1.871.87 | |
| 16. | Varun Beverages LtdVBL | Soft DrinksSoft Drinks | 1,36,856.451,36,856.45 | 401.45401.45 | 45.0745.07 | -0.79-0.79 | -11.17-11.17 | -13.47-13.47 | -26.84-26.84 | 6.936.93 | 16.6516.65 | 19.5919.59 | 0.370.37 | 0.130.13 | 2.032.03 | |
| 17. | Power Finance Corporation LtdPFC | Specialized FinanceSpecialized Finance | 1,35,914.691,35,914.69 | 412.85412.85 | 5.915.91 | 0.240.24 | 1.291.29 | 0.980.98 | 2.612.61 | 0.880.88 | 15.8915.89 | 3.463.46 | 3.843.84 | 6.266.26 | 2.142.14 | |
| 18. | Bharat Petroleum Corporation LtdBPCL | Oil & Gas - Refining & MarketingOil & Gas - Refining & Marketing | 1,24,081.261,24,081.26 | 287.80287.80 | 9.309.30 | 0.630.63 | -21.33-21.33 | -11.56-11.56 | 5.765.76 | 1.521.52 | 16.9916.99 | 17.0517.05 | 3.443.44 | 0.750.75 | 1.961.96 | |
| 19. | Apollo Hospitals Enterprise LtdAPOLLOHOSP | Hospitals & Diagnostic CentresHospitals & Diagnostic Centres | 1,04,272.631,04,272.63 | 7,364.507,364.50 | 72.1272.12 | 1.551.55 | -2.88-2.88 | -4.84-4.84 | 13.7513.75 | 9.409.40 | 15.7015.70 | 15.5515.55 | 0.170.17 | 0.490.49 | 1.451.45 | |
| 20. | Tata Consumer Products LtdTATACONSUM | Tea & CoffeeTea & Coffee | 1,03,369.621,03,369.62 | 1,050.201,050.20 | 80.8580.85 | 0.540.54 | -9.99-9.99 | -7.07-7.07 | 8.738.73 | 4.834.83 | 6.596.59 | 7.957.95 | 0.790.79 | 0.110.11 | 1.661.66 |
Selection criteria: The table contains publicly disclosed Government of Singapore investment portfolio as on 12th March 2026. Stocks are sorted by market capitalisation, highest to lowest.
Government of Singapore Portfolio’s Bulk and Block Deals
Bulk and block deals reveal significant buy or sell transactions that large investors make outside of regular market trading. Tracking these deals helps you understand when the Government of Singapore is making meaningful moves in a stock.
Here’s how you can find the latest bulk and block deals by the Government of Singapore:
- Open Market Movers
- Under Party, type Government of Singapore
- Select the relevant Category and Transaction Type
Monitoring these transactions regularly can give you an early signal when the Government of Singapore is entering or exiting a position, often before the broader market takes notice.
Investor Profile – Government of Singapore Portfolio
The Government of Singapore invests in Indian equity markets primarily through GIC Private Limited, Singapore's sovereign wealth fund established in 1981 to manage the country's foreign reserves. GIC is one of the world's largest sovereign wealth funds, managing an estimated portfolio of over USD 700 bn across global asset classes, including equities, fixed income, real estate, and infrastructure. India is among its most significant emerging-market allocations, with a publicly disclosed Indian equity portfolio of 50 stocks valued at ₹1,77,951.6 cr as of December 2025.
- Name: Government of Singapore (investing through GIC Private Limited)
- Type: Sovereign wealth fund
- Established: 1981
- Headquarters: Singapore
- India portfolio net worth: Over ₹1,77,951.6 cr as per December 2025 filings
- No. of portfolio companies: 50 publicly disclosed stocks
- Global AUM: Estimated USD 700 bn across global asset classes
- Primary focus: Large and mid-cap Indian equities across financial services, technology, healthcare, and consumer sectors
GIC's India portfolio represents one of the largest foreign institutional investment footprints in the country. Its holdings span some of India's most established businesses, reflecting a preference for high-quality, liquid large-cap companies with strong governance standards and long-term growth potential.
Beyond listed equities, GIC has also made significant investments in Indian private markets, real estate, and infrastructure over the years, making its total India exposure considerably larger than what its public equity filings alone reveal.
Top Stocks in Government of Singapore Portfolio (2026)
HDFC Bank ltd
HDFC Bank is India's largest private sector bank by assets, offering retail and corporate banking, loans, credit cards, and wealth management services. The bank maintains one of the strongest asset-quality records among Indian lenders and benefits from India's underpenetrated credit market and growing demand for urban and rural banking.
ICICI Bank ltd
ICICI Bank is one of India's leading private sector banks, offering a full suite of retail, corporate, and digital banking products. The bank has consistently improved its asset quality and return ratios over recent years, making it a preferred large-cap financial services holding for long-term institutional investors tracking India's credit growth story.
Bharti Airtel ltd
Bharti Airtel is one of India's largest telecommunications companies, serving hundreds of millions of mobile, broadband, and enterprise customers. The company has steadily improved its revenue per user through a premium customer focus, 5G rollout, and digital services expansion, positioning itself as a structural beneficiary of India's growing digital consumption.
Bajaj Finance ltd
Bajaj Finance is India's largest non-banking financial company by assets, offering consumer loans, SME financing, deposits, and digital financial products. The company has built one of the most recognised consumer lending franchises in India through an extensive distribution network and technology-driven underwriting, benefiting from rising credit penetration across urban and semi-urban markets.
Larsen and Toubro ltd
Larsen and Toubro is one of India's largest conglomerates, operating across engineering, construction, defence, technology, and financial services. The company executes large-scale infrastructure, industrial, and energy projects both domestically and internationally, making it a direct beneficiary of India's sustained capital expenditure cycle and government-led infrastructure expansion programmes.
Government of Singapore Portfolio Composition
Here are the 50 active stocks publicly held by the Government of Singapore as of March 2026:
| Stock Name | Holding Value (In cr.) | Shares Held | Dec 2025 Change (%) | Dec 2025 Holding (%) | Sep 2025 Holding (%) |
|---|---|---|---|---|---|
| HDFC Bank Ltd | 25,242.10 | 303,117,360 | -0.2 | 2.3 | 2.50 |
| ICICI Bank Ltd | 15,074.30 | 119,023,139 | 0 | 2.1 | 2.00 |
| Bharti Airtel Ltd | 13,376.40 | 74,259,657 | 0 | 1.2 | 1.30 |
| Bajaj Finance Ltd | 11,606.20 | 134,471,074 | -0.3 | 2.2 | 2.50 |
| L&T Finance Holdings Ltd | 10,258.80 | 27,581,075 | 0.1 | 2 | 2.00 |
| Shriram Finance Ltd | 9,053.00 | 87,747,965 | -0.1 | 4.7 | 4.70 |
| NTPC Ltd | 7,917.10 | 202,716,215 | 0 | 2.1 | 2.00 |
| Axis Bank Ltd | 6,519.00 | 52,807,164 | -0.2 | 1.8 | 1.90 |
| Mahindra and Mahindra Ltd | 6,439.30 | 21,243,396 | 0 | 1.7 | 1.80 |
| SBI Life Insurance Company Ltd | 6,417.90 | 33,092,201 | 0 | 3.3 | 3.30 |
| Divi's Laboratories Ltd | 5,915.20 | 9,416,092 | 0.6 | 3.6 | 3.00 |
| Power Grid Corporation of India Ltd | 5,536.20 | 182,351,332 | -0.4 | 2 | 2.30 |
| Hindalco Industries Ltd | 4,579.60 | 47,224,083 | -0.1 | 2.1 | 2.20 |
| InterGlobe Aviation Ltd | 4,539.90 | 10,677,744 | -0.5 | 2.8 | 3.30 |
| UltraTech Cement Ltd | 3,839.70 | 3,462,610 | -0.2 | 1.2 | 1.30 |
| Max Healthcare Institute Ltd | 3,373.20 | 33,057,181 | -0.9 | 3.4 | 4.30 |
| Bharat Electronics Ltd | 3,332.20 | 73,470,006 | New | 1 | - |
| Apollo Hospitals Enterprise Ltd | 2,549.40 | 3,365,819 | 1 | 2.3 | 1.40 |
| Ashok Leyland Ltd | 2,282.40 | 127,888,291 | -0.1 | 2.2 | 2.30 |
| Bharat Petroleum Corporation Ltd | 2,259.00 | 69,218,856 | 0.3 | 1.6 | 1.30 |
| Eicher Motors Ltd | 2,255.40 | 3,233,263 | 0 | 1.2 | 1.20 |
| Varun Beverages Ltd | 2,111.20 | 51,361,560 | -0.3 | 1.5 | 1.80 |
| Sona BLW Precision Forgings Ltd | 2,075.90 | 40,680,686 | 0 | 6.5 | 6.50 |
| IndusInd Bank Ltd | 1,879.20 | 22,604,713 | 0.3 | 3 | 2.80 |
| Endurance Technologies Ltd (CN) | 1,844.50 | 7,496,409 | 0 | 5.3 | 5.30 |
| Info Edge (India) Ltd | 1,741.90 | 18,231,883 | 0.3 | 2.8 | 2.50 |
| ICICI Prudential Life Insurance Company Ltd | 1,662.20 | 28,032,650 | 0 | 1.9 | 2.00 |
| Power Finance Corporation Ltd | 1,586.50 | 38,146,095 | 0.1 | 1.2 | 1.10 |
| Godrej Properties Ltd | 1,490.00 | 9,218,452 | 0 | 3.1 | 3.10 |
| Phoenix Mills Ltd | 1,279.00 | 8,197,746 | -0.1 | 2.3 | 2.40 |
| JSW Infrastructure Ltd | 1,176.60 | 45,438,290 | -0.1 | 2.2 | 2.20 |
| Tata Consumer Products Ltd | 1,088.70 | 10,291,685 | -0.1 | 1 | 1.10 |
| SRF Ltd | 1,056.20 | 4,021,547 | 0 | 1.4 | 1.40 |
| Dr Agarwal's Eye Hospital Ltd | 891.7 | 20,485,625 | 0 | 6.5 | 6.50 |
| Kalyan Jewellers India Ltd | 703.6 | 18,044,484 | 0 | 1.8 | 1.80 |
| Prestige Estates Projects Ltd | 669.7 | 5,345,893 | -0.2 | 1.2 | 1.40 |
| Syngene International Ltd | 472.3 | 11,687,078 | 0 | 2.9 | 2.90 |
| IRB Infrastructure Trust | 450.4 | 105,791,250 | -0.1 | 1.8 | 1.80 |
| Aegis Logistics Ltd | 410.2 | 6,437,666 | 0 | 1.8 | 1.80 |
| Craftsman Automation Ltd | 384.2 | 522,486 | 0 | 2.2 | 2.20 |
| Sapphire Foods India Ltd | 381 | 22,501,550 | -0.8 | 7 | 7.80 |
| Data Patterns (India) Ltd | 363.2 | 1,090,081 | 0 | 2 | 2.00 |
| Aditya Infotech Ltd | 316.7 | 1,968,386 | 0 | 1.7 | 1.70 |
| Apollo Tyres Ltd | 311.9 | 7,468,286 | 0 | 1.2 | 1.20 |
| Hexaware Technologies Ltd | 301.3 | 7,196,334 | -0.1 | 1.2 | 1.30 |
| Kalpataru Power Transmission Ltd | 259.5 | 8,665,177 | 0.2 | 4.2 | 4.00 |
| Samhi Hotels Ltd | 236.3 | 16,134,164 | 0 | 7.3 | 7.30 |
| International Gemmological Institute (India) Ltd | 183.5 | 5,718,825 | -0.6 | 1.3 | 2.00 |
| Triveni Turbine Ltd | 164 | 3,487,425 | 0 | 1.1 | 1.10 |
| Mrs. Bectors Food Specialities Ltd | 94 | 5,089,800 | 0 | 1.7 | 1.70 |
How to Invest in Government of Singapore Portfolio Stocks?
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What is the Net Worth of Government of Singapore Portfolio?
The Government of Singapore's publicly disclosed Indian equity portfolio stands at ₹1,77,951.6 cr as of December 2025, based on declared shareholdings across 50 listed companies. Starting at approximately ₹25,000-30,000 cr in December 2015, the portfolio grew steadily over a decade, peaking near ₹2,70,000 cr in December 2024 before a 20.40% correction brought it to current levels. This figure only reflects publicly traceable equity holdings and does not account for GIC's private equity, real estate, and infrastructure investments in India, which are considerably larger in aggregate.
Government of Singapore Portfolio’s Investment Strategy
Large-Cap Core Holdings
Broad Sectoral Diversification
High-Conviction Selective Stakes
New Position Additions
Long-Term Compounding Approach
Learnings from the Portfolio of the Government of Singapore
Quality at Scale
Diversification Manages Risk
High Conviction Deserves Higher Allocation
Stay Invested Through Corrections
Emerging Sectors Deserve Attention
Receive real-time market alerts for timely decisions
Monitor your portfolio from the palm of your hands
Watchlist stocks and mutual funds to stay updated

Factors Affecting Stock Selection in the Government of Singapore Portfolio
Earnings Visibility and Business Quality
India's Structural Growth Themes
Liquidity and Market Depth
Governance and Management Quality
Valuation Relative to Growth
Conclusion
The Government of Singapore's portfolio is a masterclass in long-term, diversified institutional investing. Fifty stocks spread across banking, telecom, healthcare, infrastructure, defence, and consumer sectors, held patiently through multiple market cycles, have compounded a modest starting base into one of the largest foreign institutional portfolios in Indian equity markets.
That said, replicating the portfolio without the same research depth, risk management framework, and long investment horizon is not advisable. Every investor has a unique financial situation, risk appetite, and investment timeline. If you want to explore stocks with similar characteristics, the Tickertape Stock Screener lets you filter companies by sector, market cap, financial ratios, and other parameters to build a watchlist suited to your own investment framework.
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Frequently Asked Questions About the Government of Singapore Portfolio
What is the government of Singapore's portfolio?
The Government of Singapore invests in Indian equity markets through GIC Private Limited, Singapore's sovereign wealth fund established in 1981 to manage the country's foreign reserves. GIC is one of the world's largest sovereign wealth funds and maintains one of the biggest foreign institutional investment footprints in India's listed equity markets.What is the Government of Singapore's net worth in India?
The Government of Singapore's publicly disclosed Indian equity portfolio stands at ₹1,77,951.6 cr as of December 2025, based on declared shareholdings across 50 listed companies. This figure only reflects publicly traceable equity holdings and does not account for GIC's private equity, real estate, and infrastructure investments in India.What stocks are in the Government of Singapore's portfolio?
As of 12th March 2026, some of the Government of Singapore’s largest holdings by value include:Disclaimer: This information on the top Government of Singapore stocks is for educational purposes only and should not be considered investment advice.
What is the Government of Singapore's investment strategy in India?
The Government of Singapore follows a long-term, diversified investment strategy anchored in India's structural growth themes. It maintains large-cap core holdings in market leaders across banking, telecom, and infrastructure while taking higher-conviction positions in select mid-cap businesses. Its patient, low-churn approach is designed to compound wealth over decades rather than generate short-term returns.Disclaimer:This strategy is inferred from observable portfolio data and does not represent officially stated investment guidelines from GIC.
Which sectors does the Government of Singapore invest in?
Its portfolio spans financial services, telecommunications, healthcare, energy, infrastructure, consumer goods, real estate, defence electronics, hospitality, and speciality chemicals. This broad sectoral exposure reflects a conviction in India's multiple long-term growth drivers, including credit penetration, digital adoption, urbanisation, and domestic manufacturing expansion.Disclaimer:Sectoral allocations are based on publicly disclosed holdings and may shift significantly across quarters as GIC actively manages its portfolio.
What is GIC Private Limited?
GIC Private Limited is Singapore's sovereign wealth fund, established in 1981 to manage Singapore's foreign reserves. It manages an estimated portfolio of over USD 700 bn across global asset classes, including equities, fixed income, real estate, and infrastructure. India is among its most significant emerging market allocations globally.What is the Government of Singapore's largest holding in India?
HDFC Bank is the Government of Singapore's largest disclosed holding in India, with a 2.3% stake valued at ₹25,242.10 cr as of December 2025. Movements in the Singapore share market today and global investment flows often influence how sovereign investors allocate capital across international markets. This single holding accounts for over 14% of the value of its total disclosed Indian equity portfolio.Disclaimer: Holding values are based on the latest quarterly filing and may change as share prices fluctuate between reporting periods.