Stake Sale

Amazon exits Shoppers Stop; sells entire 4% stake for Rs 276 crore

In January 2018, Shoppers Stop announced that it had allotted shares worth Rs 179.26 crore to Amazon.Com NV Investment Holdings LLC, an investment arm of Amazon.com

ICICI Bank's board approves 19% stake sale in ICICI Merchant Services

The Board of Directors of ICICI Bank Limited ("the Bank"), at its meeting held today, approved a proposal for sale of 19% stake held in ICICI Merchant Services

ReNew to delist from Nasdaq, gets a non-binding offer from Masdar

According to Reuters, the deal value would be around $2.8 billion. The offer price is 11 per cent higher than ReNew's closing stock price of $6.34 on December 10 on Nasdaq

Pioneer Jellice and Ashok Matches launch open offer for IGCL Stake

This comes after Narmada Gelatines Ltd (NGL), a subsidiary of Pioneer Jellice, acquired 1 million shares of India Gelatine at a price of Rs 408 per share, for a total value of Rs 40 crore on Wednesday

Two entities sell 5.9% stake in TBO Tek for nearly Rs 935 cr via block deal

Augusta TBO (Singapore) and TBO Korea Holdings, two public shareholders of TBO Tek, on Tuesday pared a total of 5.9 per cent stake in the company for nearly Rs 935 crore through open market transactions. TBO Tek is a technology platform engaged in the business of providing services related to tours and travel. According to the bulk deal data available on the BSE, Augusta TBO (Singapore) sold 40.74 lakh shares, while TBO Korea Holdings offloaded 23.05 lakh shares, amounting to a 3.75 per cent and 2.12 per cent stake, respectively, in Gurugram-based TBO Tek. The shares were disposed of in the price range of Rs 1,465.14-1,465 apiece, taking the aggregate deal value to Rs 934.73 crore. After the stake sale, Augusta TBO's holding in TBO Tek has come down to 9.72 per cent from 13.47 per cent, while TBO Korea Holdings' stakeholding in the company has declined to 5.5 per cent. ICICI Prudential Mutual Fund (MF), SBI MF and Axis MF acquired a total of 27.90 lakhs shares or 2.6 per cent stak

Carlyle group sells 4.3% stake in Indegene for Rs 636 crore via bulk deal

Global investment firm Carlyle Group through its arm divested a 4.3 per cent stake in healthcare tech firm Indegene for Rs 636 crore through an open market transaction. According to the bulk deal data available on the National Stock Exchange (NSE), CA Dawn Investments, an affiliate of US-based Carlyle, sold 1,02,63,785 shares amounting to a 4.3 per cent stake in Indegene. The shares were offloaded at an average price of Rs 619.82 apiece, taking the transaction value to Rs 636.17 crore. After the latest transaction, Carlyle's holding in Indegene has come down to 10.22 per cent from 14.52 per cent. Details of the buyers of Indegene's shares could not be ascertained on the NSE. Shares of Indegene plunged 6.06 per cent to close at Rs 627 apiece on the NSE. In two separate deals on the NSE and BSE, financial services company Capital Group on Tuesday trimmed its holding by selling a 2.24 per cent stake in Medi Assist Healthcare Services for nearly Rs 93 crore through open market ...

Japan's MUFG Bank, Koch Group gets CCI nod to buy stakes in Shiprocket

The Competition Commission of India (CCI) on Tuesday cleared MUFG Bank's and American conglomerate Koch Group's proposed acquisition of shareholding in logistics aggregator Shiprocket. "The proposed combination envisages acquisition of certain shareholding of Shiprocket Pvt Ltd by MUFG Bank Ltd," the CCI said in a release. MUFG Bank is a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc. (MUFG), being the ultimate parent company. It is engaged in banking services in India. In another release, fair trade regulator CCI said the proposed combination envisages acquisition of certain shareholding in Shiprocket Pvt Ltd by KDT Venture Holdings, LLC. KDT Venture Holdings LLC is an early-stage venture capital firm. It is a wholly owned subsidiary company of Koch, Inc. Koch is one of the largest private companies in the US after multinational food corporation Cargill Inc. Shiprocket operates a logistics platform whereby it provides logistics services to other businesses, ...

Edelweiss Financial Services soars 10% on buzz of stake sale in MF unit

According to reports the company was looking to sell a minority stake in its mutual fund arm and has initiated the process by hiring an investment banker.

Welspun Corp arm sells 5% stake in associate entity for about Rs 480 cr

Welspun Mauritius Holdings Limited (WMHL) has divested a 5 per cent equity stake in East Pipes Integrated Company for Industry (EPIC) for an overall consideration of 218.9 million Saudi Riyal (about Rs 480 crore). EPIC is a step-down listed associate of Welspun Corp in the Kingdom of Saudi Arabia (KSA). "Our wholly-owned subsidiary WMHL has divested a 5 per cent equity stake in EPIC in favour of identified financial investors in a series of negotiated trades on the Tadawul Stock Exchange, KSA on November 11, 2024, for an overall consideration of (Saudi Riyal) SAR 218.9 million (approximately USD 58 million)," Welspun Corp said in an exchange filing. Post this transaction, WMHL's stake in EPIC has changed from 31.5 per cent to 26.5 per cent, and the company will still remain the single largest shareholder in the company, the filing said. The proceeds from the sale of EPIC shares are proposed to be redeployed by WMHL in its new wholly-owned subsidiary Welspun Pipes Company, KSA (WPC)

Pantomath's Bharat Value Fund invests Rs 235 crore in Haldiram Bhujiawala

Haldiram Bhujiawala, which retails its products under the brand 'Prabhuji,' has been a prominent player in the snacks and savoury industry for six decades

Hindustan Zinc OFS gets bids worth Rs 3,400 cr from institutional investors

The government's offer-for-sale for more than 4.75 crore Hindustan Zinc Ltd (HZL) shares to institutional investors over-subscribed on Wednesday, with institutional buyers putting bids worth close to Rs 3,400 crore. On the first day of the two-day OFS, bids came in for over 6.69 crore shares, which is 1.41 times the total of 4.75 crore shares on offer for institutional buyers. The issue will open for retail investors on Thursday. "Offer for Sale in Hindustan Zinc Limited (HZL) received enthusiastic response from non-retail investors today. Government has decided to exercise the green shoe option," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on X. The government, which holds a 29.54 per cent stake in HZL, is the largest minority shareholder in the Vedanta Group firm. Through the two-day OFS, the government is selling over 5.28 crore shares, or 1.25 per cent stake, with a greenshoe option to retain additional subscriptions of a simi

Citigroup sells HDFC Bank's shares worth Rs 275 crore via block deal

American multinational Citigroup on Monday offloaded private sector lender HDFC Bank's shares worth Rs 275 crore through an open market transaction. Citigroup, through its arm Citigroup Global Markets Mauritius, sold 15,79,953 shares of HDFC Bank, as per the block deal data available on the BSE. The shares were disposed of at an average price of Rs 1,742.6 apiece, taking the transaction value to Rs 275.32 crore. Ghisallo Master Fund LP acquired the shares of Mumbai-headquartered HDFC Bank at the same price. Shares of HDFC Bank fell 0.48 per cent to close at Rs 1,734.30 per piece on the BSE. On October 19, HDFC Bank reported a 6 per cent increase in the September quarter net profit to Rs 17,825.91 crore on a consolidated basis. On a standalone basis, the largest private sector lender's post-tax net profit grew to Rs 16,820.97 crore during the reporting period against Rs 15,976.11 crore in the year-ago period. The company's core net interest income grew 10 per cent to Rs 30,010 cr

Lodha Group to transfer 18% stake in Macrotech Developers for philanthropy

Lodha Philanthropy Foundation (LPF) will have an initial corpus of Rs 20,000 cror

Sona Comstar to buy Escorts Kubota's railway equipment biz for Rs 1,600 cr

Farm and construction equipment firm Escorts Kubota Ltd on Wednesday said it will sell its railway equipment business division to Sona BLW Precision Forgings Ltd for Rs 1,600 crore. The company has entered into a business transfer agreement with Sona BLW Precision Forgings Ltd (Sona Comstar) for transferring the railway equipment business division (RED) as a going concern, on slump-sale basis, Escorts Kubota Ltd (EKL) said in a regulatory filing. The transaction is being carried out for a lump sum cash consideration of Rs 1,600 crore subject to the terms of the agreement, it added. On the rationale behind the sale, EKL said it has decided to divest the RED in line with its strategic focus on agri and construction equipment sectors. "This strategic shift is aimed at simplifying operations, capital reallocation leading to an increase in scale and efficiency of the core businesses. By aligning with the vision of the parent i.e. Kubota Corporation, EKL is positioning itself for ...

Poonawalla's bold script: 50% stake buy in Dharma for Rs 1,000 crore

Karan Johar to retain remaining 50% ownership

Haldiram Snacks' promoters revise stake sale plans, look to offload 10-15%

Earlier, the promoters of Haldiram's were exploring the possibility of selling a controlling 51 per cent stake, a move that would have valued the company between $8 billion and $10 billion

Morgan Stanley buys 0.57% shares of Titagarh Rail Systems via block deal

Investment banking firm Morgan Stanley on Wednesday bought shares of Titagarh Rail Systems for over Rs 85 crore through an open market transaction. New York-headquartered Morgan Stanley, through its affiliate Morgan Stanley Asia Singapore, purchased 7,63,738 shares or 0.57 per cent stake in Kolkata-based Titagarh Rail Systems, as per the bulk deal data available on the NSE. The shares were acquired at an average price of Rs 1,120 apiece, taking the transaction value to Rs 85.54 crore. Meanwhile, through its arm SmallCap World Fund Inc, Capital group sold more than 7.90 lakh shares of mobility solution provider Titagarh Rail Systems at an average price of Rs 1,120.12 apiece, as per the data on the National Stock Exchange (NSE). This took the deal value to Rs 88.60 crore. On Wednesday, shares of Titagarh Rail Systems slipped 1.36 per cent to close at Rs 1,131 per piece on the NSE.

Boeing files securities statement to raise up to $25 bn via stock sale

It was not clear when and how much Boeing will raise via the offering, but analysts and investors expect the company to raise money before the year end amid looming debt maturities

Temasek in talks to pick minority stake in Haldiram's at $11 bn valuation

The Singapore state investor is holding preliminary talks to buy from 10 per cent to 15 per cent in Haldiram's

Seven & i to start majority stake sale in supermarkets by year-end: Nikkei

Seven & i has been under pressure from investor ValueAct Capital in recent years to improve its asset allocation and has sold down stakes in other lower-performing assets