Indian Promoters

FY24 dividend income: Promoters and top business families beat govt

The government's dividend was, however, up 35 per cent year-on-year in FY24 from Rs 61,409 crore a year ago

Over 450 promoters cut stake in shareholding amid new market highs

Drop in shareholdings highest in at least 12 quarters

SoftBank signs indemnity clause over Unicommerce 'promoter' tag

Founders Kunal Bahl, Rohit Bansal enter into agreement to limit liabilities of Softbank

Promoter pledging dips for 4th quarter due to rising market valuations

Among BSE 500 stocks, Max Financial Services, Eris Lifescience, Ashok Leyland, Jubilant Foodworks and Lloyd Metals saw an increase in promoter pledges

Mankind Pharma promoters to divest 1.62% stake to comply with Sebi norms

The current aggregate promoter and promoter group shareholding as on February 7 is 76.50 per cent of the total paid-up equity share capital of the company

Corporate bosses' message for 2024: Focus on people, tech, geopolitics

In his letter this week, Adani said, there are lessons from the Hindenburg episode, which he would share with his workforce later

Ajay Singh's shareholding in SpiceJet down by 38.55% due to new fund raise

The airline announced it is going to raise a total of Rs 2,241.5 crore through the issuance of equity and warrants

The governance imperative

In new-age companies with no promoters, institutional investors have a crucial role in shaping the board

Strides Pharma to spin off CDMO, gelatin business into separate entity

OneSource is created by merging Strides' soft-gel business and SteriScience CDMO injectables business into current Stelis

Torrent Pharma gears up to buyout Cipla promoters, approach PE funding

Torrent Pharma might pay a total of Rs 60,000 crore (around $7.2 billion) for a 59.47 per cent stake in the 88-year-old pharmaceutical company

Dispute between two promoters not to impact corporate performance: Hikal

Pharmaceuticals and crop protection firm Hikal Ltd on Thursday refuted allegations by proxy advisory firm InGovern Research Services that the battle between its two promoters is impacting corporate performance. Hikal is in the midst of a battle between two promoter groups -- the Hiremaths who own 34.84 per cent stake and Baba N Kalyani (BNK)-led side that holds 34.01 per cent of the company. Minority shareholders own 31.15 per cent. InGovern in a note to shareholders had stated that in the absence of an agreement between the two warring promoter groups due the proportion of shareholding makes it difficult for any special resolution to be passed. It was also likely to slow down decision-making and resultantly, the interest of the company is likely to be compromised. In a detailed response to points raised by InGovern, Hikal said, "The document is a one-sided and an ill-informed attempt to damage the credibility of the company and its management and has been made with the intention of

Promoters of stalled real estate projects must be barred for life: FPCE

Homebuyers' body FPCE has suggested that promoters of stalled real estate projects must be barred for life, besides conducting forensic audits to ascertain the diversion of funds, making projects financially unviable. Forum for People's Collective Efforts (FPCE) president Abhay Upadhyay has written to Amitabh Kant, Chairman, Committee on Stalled Projects, suggesting measures for the revival and completion of stuck projects across the country. The panel held its second meeting on May 8 to examine the issues related to legacy stalled projects. In an order dated March 31, the Union Housing and Urban Affairs Ministry has set up a 14-member committee headed by former NITI Aayog CEO Amitabh Kant to examine issues related to stalled real estate projects and recommend ways for their completion. The panel will submit a report within 6 months from the date of its first meeting. Upadhyay in the letter suggested that an exercise should be done on a pan-India basis to identify projects, which a

Promoter share pledge rises to 1.61% in October-December quarter

Promoters in 87 companies in the BSE 500 Index had at least some portion of their holdings pledged at the end of Q3FY23. Of this, only 17 had more than 25 per cent of their promoter holdings pledged

Ex-promoters can't hold stake in insolvent firms acquired by others: SC

Court agrees with tribunal orders in Bhushan Steel's acquisition by Tata group firm

No plans to exit business, clarify Metropolis Healthcare promoters

Metropolis Healthcare is continuously exploring various strategic options and investment

Dividends, share buybacks lift India's top promoters' income in FY22

The country's top 50 promoter families earned Rs 709.4 crore on average from their companies in FY22, while the median income of these promoters was Rs 123.2 crore in the last fiscal

Burman family may become the sole promoter of Eveready Industries

The Burmans - who have been buying into Eveready since 2019 and became the largest shareholder in July 2020 - have made it clear that their offer is for control

India's new billionaires: A record 40 promoters entered the club in 2021

A record 40 promoters entered the club in 2021, beating the previous high of 24 in FY10

Personal guarantors may be part of cross-border insolvency framework

The cross-border insolvency framework is yet to be notified under the Insolvency and Bankruptcy Code

Companies need more neeti, less niyam

The key lies in training and aligning directors about the behavioural aspects of governance, not only about the laws