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Government of Singapore Portfolio: Net Worth and Bulk Deals

The Government of Singapore is one of the largest and most closely tracked foreign institutional investors in India, with a publicly disclosed portfolio of 50 stocks worth ₹1,77,951.6 cr as of December 2025. Investing through GIC Private Limited, Singapore's sovereign wealth fund, it has built a broad and diversified presence across India's equity markets, spanning sectors including financial services, technology, healthcare, and consumer businesses. This blog breaks down its portfolio composition, investment strategy, and the key factors that drive its stock selection decisions in India.

Latest Government of Singapore Stock Portfolio & Holdings (2026)

Government of Singapore Portfolio Stock Screener

Government of Singapore Portfolio Stock Screener: Analyse & Filter Indian Stocks on Tickertape

Showing 1 - 20 of 50 results

last updated at 6:30 AM IST 
NameStocks (50)Sub-SectorSub-SectorMarket CapMarket CapClose PriceClose PricePE RatioPE Ratio1D Return1D Return1M Return1M Return6M Return6M Return1Y Return1Y ReturnPB RatioPB RatioReturn on EquityReturn on EquityROCEROCEDividend YieldDiv YieldDebt to EquityDebt to EquityVolatility vs NiftyVolatility vs Nifty
1.HDFC Bank LtdHDFCBANKPrivate BanksPrivate Banks12,28,582.5012,28,582.50780.45780.4517.3517.35-2.22-2.22-14.71-14.71-19.06-19.06-11.75-11.752.282.2814.0514.055.705.701.371.370.000.001.241.24
2.ICICI Bank LtdICICIBANKPrivate BanksPrivate Banks8,94,930.358,94,930.351,245.401,245.4017.5417.54-0.38-0.38-10.54-10.54-11.14-11.14-5.77-5.772.722.7217.0417.047.247.240.880.880.000.001.311.31
3.Bajaj Finance LtdBAJFINANCEConsumer FinanceConsumer Finance5,17,324.275,17,324.27830.55830.5531.0931.09-0.20-0.20-18.14-18.14-17.48-17.48-4.31-4.315.235.2318.9518.955.185.180.670.673.653.652.002.00
4.Axis Bank LtdAXISBANKPrivate BanksPrivate Banks3,75,101.913,75,101.911,203.901,203.9013.3713.37-0.26-0.26-11.14-11.145.205.2014.1814.182.002.0016.2516.257.547.540.080.080.000.001.711.71
5.Mahindra and Mahindra LtdM&MFour WheelersFour Wheelers3,65,591.983,65,591.983,066.103,066.1028.2828.280.680.68-10.97-10.97-14.47-14.478.428.423.923.9214.9714.9715.1715.170.770.771.341.341.931.93
6.NTPC LtdNTPCPower GenerationPower Generation3,62,703.803,62,703.80380.95380.9515.4915.491.841.844.204.2012.3112.3111.4711.471.901.9013.1513.1510.7710.772.232.231.311.311.431.43
7.UltraTech Cement LtdULTRACEMCOCementCement3,18,080.503,18,080.5010,934.0010,934.0052.6752.671.111.11-13.43-13.43-13.57-13.57-0.13-0.134.304.309.009.009.069.060.720.720.330.331.541.54
8.Bharat Electronics LtdBELElectronic EquipmentsElectronic Equipments3,14,905.273,14,905.27426.10426.1059.1859.18-1.09-1.09-2.62-2.624.854.8543.4443.4415.7515.7529.2929.2933.7533.750.560.560.000.002.052.05
9.Power Grid Corporation of India LtdPOWERGRIDPower Transmission & DistributionPower Transmission & Distribution2,75,948.922,75,948.92297.60297.6017.7817.780.300.30-0.02-0.023.823.826.156.152.982.9817.2617.2612.4012.403.033.031.411.411.681.68
10.Hindalco Industries LtdHINDALCOMetals - AluminiumMetals - Aluminium2,00,569.202,00,569.20874.25874.2512.5312.53-2.54-2.54-3.61-3.6117.2417.2423.8423.841.621.6213.9213.9212.9612.960.560.560.520.522.122.12
11.SBI Life Insurance Company LtdSBILIFEInsuranceInsurance1,90,898.461,90,898.461,896.901,896.9079.1079.10-0.33-0.33-7.25-7.252.112.1126.6026.6011.2411.2415.1315.130.600.600.140.140.000.001.411.41
12.Eicher Motors LtdEICHERMOTTrucks & BusesTrucks & Buses1,86,341.641,86,341.646,909.006,909.0039.3639.361.711.71-13.06-13.06-0.53-0.5332.1232.128.758.7524.0724.0726.1426.141.031.030.020.021.711.71
13.Shriram Finance LtdSHRIRAMFINConsumer FinanceConsumer Finance1,78,711.081,78,711.08938.60938.6018.7118.71-1.18-1.18-11.24-11.2449.4949.4940.5340.533.163.1618.0018.004.354.351.041.044.154.152.462.46
14.Interglobe Aviation LtdINDIGOAirlinesAirlines1,60,610.351,60,610.354,149.104,149.1022.1322.13-0.13-0.13-13.73-13.73-27.81-27.81-18.43-18.4317.1417.14127.74127.7415.5815.580.240.247.137.132.092.09
15.Divi's Laboratories LtdDIVISLABLabs & Life Sciences ServicesLabs & Life Sciences Services1,58,551.111,58,551.116,100.006,100.0072.3672.362.132.13-2.91-2.910.120.124.774.7710.5910.5915.3515.3518.8718.870.500.500.000.001.871.87
16.Varun Beverages LtdVBLSoft DrinksSoft Drinks1,36,856.451,36,856.45401.45401.4545.0745.07-0.79-0.79-11.17-11.17-13.47-13.47-26.84-26.846.936.9316.6516.6519.5919.590.370.370.130.132.032.03
17.Power Finance Corporation LtdPFCSpecialized FinanceSpecialized Finance1,35,914.691,35,914.69412.85412.855.915.910.240.241.291.290.980.982.612.610.880.8815.8915.893.463.463.843.846.266.262.142.14
18.Bharat Petroleum Corporation LtdBPCLOil & Gas - Refining & MarketingOil & Gas - Refining & Marketing1,24,081.261,24,081.26287.80287.809.309.300.630.63-21.33-21.33-11.56-11.565.765.761.521.5216.9916.9917.0517.053.443.440.750.751.961.96
19.Apollo Hospitals Enterprise LtdAPOLLOHOSPHospitals & Diagnostic CentresHospitals & Diagnostic Centres1,04,272.631,04,272.637,364.507,364.5072.1272.121.551.55-2.88-2.88-4.84-4.8413.7513.759.409.4015.7015.7015.5515.550.170.170.490.491.451.45
20.Tata Consumer Products LtdTATACONSUMTea & CoffeeTea & Coffee1,03,369.621,03,369.621,050.201,050.2080.8580.850.540.54-9.99-9.99-7.07-7.078.738.734.834.836.596.597.957.950.790.790.110.111.661.66

Disclaimer: Please note that the above table is for informational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Stock Screener and is subject to real-time updates.

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:

  1. Open Market Movers
  2. Under Party, type Government of Singapore
  3. 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.

  1. Name: Government of Singapore (investing through GIC Private Limited)
  2. Type: Sovereign wealth fund
  3. Established: 1981
  4. Headquarters: Singapore
  5. India portfolio net worth: Over ₹1,77,951.6 cr as per December 2025 filings
  6. No. of portfolio companies: 50 publicly disclosed stocks
  7. Global AUM: Estimated USD 700 bn across global asset classes
  8. 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

25,242.10303,117,360-0.22.32.50
ICICI Bank Ltd

15,074.30119,023,13902.12.00
Bharti Airtel Ltd

13,376.4074,259,65701.21.30
Bajaj Finance Ltd

11,606.20134,471,074-0.32.22.50
L&T Finance Holdings Ltd

10,258.8027,581,0750.122.00
Shriram Finance Ltd

9,053.0087,747,965-0.14.74.70
NTPC Ltd

7,917.10202,716,21502.12.00
Axis Bank Ltd

6,519.0052,807,164-0.21.81.90
Mahindra and Mahindra Ltd

6,439.3021,243,39601.71.80
SBI Life Insurance Company Ltd

6,417.9033,092,20103.33.30
Divi's Laboratories Ltd

5,915.209,416,0920.63.63.00
Power Grid Corporation of India Ltd

5,536.20182,351,332-0.422.30
Hindalco Industries Ltd

4,579.6047,224,083-0.12.12.20
InterGlobe Aviation Ltd

4,539.9010,677,744-0.52.83.30
UltraTech Cement Ltd

3,839.703,462,610-0.21.21.30
Max Healthcare Institute Ltd

3,373.2033,057,181-0.93.44.30
Bharat Electronics Ltd

3,332.2073,470,006New1-
Apollo Hospitals Enterprise Ltd

2,549.403,365,81912.31.40
Ashok Leyland Ltd

2,282.40127,888,291-0.12.22.30
Bharat Petroleum Corporation Ltd

2,259.0069,218,8560.31.61.30
Eicher Motors Ltd

2,255.403,233,26301.21.20
Varun Beverages Ltd

2,111.2051,361,560-0.31.51.80
Sona BLW Precision Forgings Ltd

2,075.9040,680,68606.56.50
IndusInd Bank Ltd

1,879.2022,604,7130.332.80
Endurance Technologies Ltd (CN)

1,844.507,496,40905.35.30
Info Edge (India) Ltd

1,741.9018,231,8830.32.82.50
ICICI Prudential Life Insurance Company Ltd

1,662.2028,032,65001.92.00
Power Finance Corporation Ltd

1,586.5038,146,0950.11.21.10
Godrej Properties Ltd

1,490.009,218,45203.13.10
Phoenix Mills Ltd

1,279.008,197,746-0.12.32.40
JSW Infrastructure Ltd

1,176.6045,438,290-0.12.22.20
Tata Consumer Products Ltd

1,088.7010,291,685-0.111.10
SRF Ltd

1,056.204,021,54701.41.40
Dr Agarwal's Eye Hospital Ltd

891.720,485,62506.56.50
Kalyan Jewellers India Ltd

703.618,044,48401.81.80
Prestige Estates Projects Ltd

669.75,345,893-0.21.21.40
Syngene International Ltd

472.311,687,07802.92.90
IRB Infrastructure Trust

450.4105,791,250-0.11.81.80
Aegis Logistics Ltd

410.26,437,66601.81.80
Craftsman Automation Ltd

384.2522,48602.22.20
Sapphire Foods India Ltd

38122,501,550-0.877.80
Data Patterns (India) Ltd

363.21,090,081022.00
Aditya Infotech Ltd

316.71,968,38601.71.70
Apollo Tyres Ltd

311.97,468,28601.21.20
Hexaware Technologies Ltd

301.37,196,334-0.11.21.30
Kalpataru Power Transmission Ltd

259.58,665,1770.24.24.00
Samhi Hotels Ltd

236.316,134,16407.37.30
International Gemmological Institute (India) Ltd

183.55,718,825-0.61.32.00
Triveni Turbine Ltd

1643,487,42501.11.10
Mrs. Bectors Food Specialities Ltd

945,089,80001.71.70

How to Invest in Government of Singapore Portfolio Stocks?

Here's how you can invest in Government of Singapore Portfolio stocks using Tickertape -

  1. Create an account on the Tickertape or log in if you already have one.
  2. Open Government of Singapore Portfolio Screener
  3. Filter stocks based on 200+ parameters. Tickertape provides comprehensive data on each stock, including financials, performance metrics, future projections, red flags, and more. You can review this data to assess each company's financial health and potential in depth.
  4. Once you've decided on a stock, you can place a buy order through your brokerage account linked to Tickertape.

You can stay updated with each of your favourite stocks' alerts and announcements with Tickertape Alerts. Further, you can analyse your overall portfolio and potential red flags in it by connecting it to Tickertape. Check out the detailed analysis of your portfolio now!

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

The bulk of GIC's disclosed portfolio is anchored in India's largest and most liquid companies. Holdings such as HDFC Bank, ICICI Bank, Bharti Airtel, Bajaj Finance, and Larsen & Toubro reflect a preference for market leaders with strong balance sheets, proven management, and sustainable competitive advantages in their respective sectors.

Broad Sectoral Diversification

Unlike most individual investors who concentrate in a few sectors, GIC spreads its India exposure across financial services, telecommunications, healthcare, energy, infrastructure, consumer goods, real estate, and defence. This broad diversification reduces sector-specific risk while ensuring participation across India's multiple structural growth themes.

High-Conviction Selective Stakes

While most of its large-cap holdings carry 1-3% stakes, GIC takes significantly higher positions in select companies. Sapphire Foods at 7%, Samhi Hotels at 7.3%, Dr Agarwals Health Care at 6.5%, and Sona BLW Precision at 6.5% reflect deeper conviction in businesses where GIC sees stronger long-term value relative to their current market positioning.

New Position Additions

GIC's addition of Bharat Electronics as a new position in December 2025 shows a willingness to enter new sectors as structural opportunities emerge. Its entry into India's defence electronics space aligns with India's accelerating indigenisation push and growing government spending on domestic defence procurement.

Long-Term Compounding Approach

GIC's net worth history, growing from ₹25,000-30,000 cr in 2015 to a peak near ₹2,70,000 cr in 2024, reflects a decade-long compounding strategy rather than short-term trading. Its consistent presence across market cycles underscores a patient, long-horizon approach to India equity investing.

Learnings from the Portfolio of the Government of Singapore

Quality at Scale

GIC's portfolio demonstrates that owning high-quality businesses across multiple sectors over long periods is among the most reliable paths to wealth creation. Its decade-long trajectory from ₹25,000 cr to nearly ₹2,70,000 cr at peak reflects the power of staying invested in fundamentally strong companies through market cycles.

Diversification Manages Risk

Spreading capital across 50 stocks in sectors ranging from banking and telecom to healthcare, defence, and hospitality means no single sector downturn can significantly derail the overall portfolio. Retail investors building long-term portfolios can draw the same lesson from maintaining exposure across multiple sectors rather than concentrating in one or two.

High Conviction Deserves Higher Allocation

GIC's double-digit stakes in Sapphire Foods, Samhi Hotels, and Dr Agarwals Health Care show that even a large institutional investor sizes up positions when conviction is stronger. Investors at all scales can apply this principle by allocating more capital to their highest-conviction ideas rather than treating all holdings equally.

Stay Invested Through Corrections

GIC's portfolio has navigated multiple corrections, including the 8.10% decline in 2020 and the current 20.40% drawdown from peak, without a complete exit from India. Long-term investors who stay invested through temporary corrections rather than exiting at the bottom tend to capture the full recovery and subsequent growth.

Emerging Sectors Deserve Attention

GIC's new entry into Bharat Electronics reflects its ability to identify and act on emerging structural themes like defence indigenisation. Tracking where large institutional investors allocate fresh capital can help retail investors identify sectors that may be in the early stages of a longer growth cycle.

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Factors Affecting Stock Selection in the Government of Singapore Portfolio

Earnings Visibility and Business Quality

GIC consistently holds companies with predictable, recurring revenue streams and strong balance sheets. Businesses like HDFC Bank, SBI Life Insurance, and Divi's Laboratories generate stable earnings across economic cycles, making them suitable for a long-term, low-turnover sovereign wealth fund portfolio.

India's Structural Growth Themes

Its holdings are aligned with India's most durable long-term growth drivers, including credit penetration, digital connectivity, healthcare access, infrastructure buildout, and domestic consumption. Each sector in the portfolio benefits from one or more of these multi-decade tailwinds rather than short-term cyclical factors.

Liquidity and Market Depth

As one of the largest foreign institutional investors in India, GIC requires sufficient market liquidity to build and exit positions without significantly moving prices. This naturally directs its larger allocations towards large- and mid-cap companies with high trading volumes and broad institutional ownership.

Governance and Management Quality

Sovereign wealth funds like GIC apply stringent governance standards to stock selection. Companies with transparent disclosures, independent boards, and strong management track records are preferred, which explains the consistent presence of well-governed private sector banks, insurance companies, and multinational-linked businesses in its portfolio.

Valuation Relative to Growth

GIC's willingness to hold both large-cap leaders and select mid-cap growth businesses suggests a valuation-aware approach that balances current earnings quality with future growth potential. New additions like Bharat Electronics and increased stakes in Apollo Hospitals indicate active portfolio management driven by evolving valuation assessments rather than passive index replication.

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.

Frequently Asked Questions About the Government of Singapore Portfolio

  1. 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.

  2. 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.

  3. 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:
    1. HDFC Bank ltd
    2. ICICI Bank ltd
    3. Bharti Airtel ltd
    4. Bajaj Finance ltd
    5. Larsen and Toubro ltd

    Disclaimer: This information on the top Government of Singapore stocks is for educational purposes only and should not be considered investment advice.

  4. 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.

  5. 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.

  6. 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.

  7. 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.