Canadian Pension Fund Holds Stake In New Age Startups To Banks, IT Companies

The Canadian Pension Plan Investment Board (CPPIB), the company that invests the Canada Pension Plan's funds, has made significant investments in India in both public and unlisted enterprises which include startups. According to recent disclosures, these investments totaled more than Rs 1 lakh crore.

In India, CPPIB completed fiscal 2022-23 with net assets totaling Rs 1.3 lakh crore (C$22 billion). According to its statistics, it is an 11% growth in its net India assets over fiscal 2022. The C$22 billion represents around 3.8% of its total global investment of C$570 billion and 26% of its approximately C$149 billion investment in Asia Pacific.

The CPPIB holds a stake in some of the new-age Indian companies to traditional old companies like ICICI Bank. Here are some Indian companies in which the Canadian Pension Fund is invested:

1. Stakes in Startups

a) Zomato

CPPIB holds 2.37% stake in the Food Delivery aggregator, Zomato, valued at Rs 2,078 Crore as of Monday's closing price, accordance with the June quarter shareholding pattern.

b) Delhivery

The CPPIB holds 6% in the logistics platform, which only went public last year, as of the June quarter. That stake is worth Rs 1,878 Crore based on Monday's closing price.

c) Paytm

Before being surpassed by LIC, the CPPIB was one of the anchor investors in India's largest IPO, Paytm (One 97 Communications). The Canadian Pension Fund holds 1.76% of Paytm as per the June quarter's shareholding pattern, which was valued at Rs 973 Crore as of Monday's closing price.

d) Nykaa

The CPPIB was an anchor investor in the IPO of Nykaa, the online beauty retailer. The CPPIB holds a 1.47% investment in Nykaa as of June 30; Nykaa is worth Rs 625 crore, as per Monday's closing price.

e) Indus Towers

As of June 30, the CPPIB owned 2.18% of the towers company, formerly known as Bharti Infratel. That share is worth Rs 1,085 crore as per Monday's closing price.

2) Stakes in Banks and IT

a) Kotak Mahindra Bank

The Uday Kotak-led bank received a 1.15 billion Canadian dollar investment from the CPPIB in 2015, according to the website. The stake currently stands at 2.68 percent according to the most recent shareholding information. In June of this year, the Canadian Pension Fund also sold a 1.66 percent share in the bank. According to Monday's closing price, the remaining stake is worth Rs 9,582 crore.

b) ICICI Bank

ICICI Bank is an Indian stock with a US listing in which the CPPIB has a stake. According to the most recent disclosures, the CPPIB owns a stake in ICICI Bank worth close to $10 million.

c) Wipro

According to the CPPIB's most recent 13-F filings from August, it has a stake in Wipro's US-listed shares that is worth close to $11.92 million.

d) Infosys

The CPPIB's 13-F filings also reveal their ownership in Infosys shares listed on the US stock exchange, which are currently worth more than $21.7 million.