Temasek said in a statement that the sale was part of regular moves to review and rebalance its portfolio.
Singapore's Temasek Holdings and Government of Singapore Investment Corporation (GIC) have cut their stakes in India's second biggest lender ICICI.
Wire reports, citing data from the Bombay Stock Exchange, said on Tuesday that Temasek trimmed its stake in ICICI through its Indian arm, Allamanda Investments, from 7.6 per cent at the end of June, to 5.76 per cent as of September 30.
GIC was reported as having reduced its stake from 1.66 per cent to 1.53 per cent. It declined to comment on the report.
It added that it is optimistic about the long-term growth potential of Asia, including India, and will continue to build on its portfolio of investments in the region.
Separately, Temasek said it has completed its offering of US$1.5 billion worth of 10-year bonds at an interest of 4.3 per cent. The issuance is part of its US$5 billion guaranteed global medium-term note programme.
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