Public sector firm WAPCOS Ltd has filed preliminary papers with capital markets regulator Sebi to float an Initial Public Offering. The public issue will be a complete Offer For Sale (OFS) of up to 32,500,000 equity shares by the promoter, Government of India, according to the Draft Red Herring Prospectus (DRHP). WAPCOS provides consultancy, and engineering, procurement and construction services in the field of water, power and infrastructure sectors. It comes under the Ministry of Jal Shakti. The company also provides its services abroad, particularly in South Asia and across Africa in the fields of dam and reservoir engineering, irrigation and flood control. It has ongoing projects in 30 countries and has been associated with over 455 overseas projects, both completed and ongoing, as per DRHP. The company's revenue from operations increased 11.35 per cent to Rs 2,798 crore in the financial year 2022 while profit after tax rose 14.47 per cent to Rs 69.16 crore during the same ...
The positive for the stock is that the new policy lifts the LLF overhang, clearing the way for divestment
Food-delivery service Meituan is among the assets that are in the pipeline for divestment, the paper reported.
Infrastructure conglomerate GMR Group will divest 30 per cent stake in Indonesia-based bituminous coal mining firm PT Golden Energy Mines (PT GEMS) for USD 420 million (around Rs 3,360 crore), according to a regulatory filing. The divestment will give thrust to GMR's non-airport business through reduction of leverage and give a platform for the growth of its clean energy initiatives. GMR Coal Resources Pte Ltd (GCRPL), a step-down subsidiary of GMR Power and Urban Infra Ltd (GPUIL), has signed definitive pacts to offload the 30 per cent stake it holds in PT GEMS to PT Radhika Jananta Raya, an arm of PT ABM Investama Tbk (ABM), following a competitive bidding process, the filing said. GPUIL -- a subsidiary of GMR Enterprises (GEPL) -- holds expertise in the energy, urban infrastructure and transportation sectors. GCRPL will receive a gross consideration of USD 420 million on closure, GPUIL said in a filing to BSE, adding it will also get a deferred consideration based on mutually .
The decline was largely on account of divestment of its nutraceutical business and a few key brands.
CDC Group Plc, the development finance institution owned by the UK government, on Friday divested a 3.56 per cent stake in IIFL Finance Ltd for Rs 453 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), CDC Group Plc sold 1,35,01,587 shares of the company. The shares were disposed of at an average price of Rs 335.64 apiece, valuing the transaction at Rs 453.16 crore. Meanwhile, Morgan Stanley Asia Singapore Pte picked up the shares of the company. As of the June quarter, CDC Group plc, which is one of the public shareholders of IIFL Finance, owned 1.35 crore shares, amounting to a 3.56 per cent stake in the company, the shareholding pattern showed. Shares of IIFL Finance closed 5.62 per cent lower at Rs 331.50 on NSE.
Govt and LIC look to sell 51-74% stake in the lender through strategic disinvestment
The Modi government has earned twice as much from disinvestment as all previous governments combined have since 1991
So far in the current fiscal year, the government has mopped up over Rs 24,000 crore from CPSE disinvestment
DIPAM calls for in-house capabilities for analysis and decisions regarding divestment-related measures
The shares were picked by a clutch of domestic mutual funds, foreign investors and an insurance company
The sale would help Centre to inch towards its Rs 65,000 crore divestment target for financial year 2022-23
After missing disinvestment target for three years, will the govt be able to nail it this financial year? How are things progressing for the Centre's divestment and privatisation plans? Let's find out
How close is the govt to its divestment target for FY23? Do Thomas Malthus's words still hold water? Should you buy in the dip or sell when the markets rally? What is downtrading? All answers here
Stating that the company's board had given only "in principle" approval to the proposal, CIL said that only after getting further clearance from the government, subsequent action would be initiated
At present, PSU boards have the authority to make equity investments, undertake mergers and acquisitions subject to certain ceilings of net-worth
Will divestment slow down after LIC's weak debut? How is 'shrinkflation' helping FMCG majors? What are Sanjiv Bajaj's ideas on financial sector reforms? What is the total fertility rate? Answers here
Over the last 15 months Holcim has spent 5 billion Swiss francs ($4.99 billion) on a string of companies outside the cement market as it pivots towards building products like roofing and mortars.
It has signed a Euro 600 million transaction with Compagnie Plastic Omnium
The company believes that the divestment is part of company's strategy to align its resources with the high value and high growth primary markets in China, India, and two-wheeler sector globally.