Page 10 - Stake Sale

Coal India OFS for employees to open on June 21; Govt to sell 9.2 mn shares

The government will sell up to 92.44 lakh shares or 0.15 per cent stake in Coal India to its employees at a price of Rs 226.10 a share. "The employee OFS (Offer for Sale) shall remain open from June 21, 2023 to June 23, 2023," Coal India said in a stock exchange filing. Under the share sale offer, 92,44,092 equity shares (representing 0.15 per cent of the total paid up equity share capital of the company) would be offered to eligible CIL employees at a price of Rs 226.10 per equity share. The share sale would fetch around Rs 20,000 crore to the government. Shares of Coal India settled at Rs 227.30 apiece, down 0.48 per cent over the previous close on the BSE. The employee OFS follows the secondary market share sale in Coal India by the government earlier this month. The government had mopped up Rs 4,185 crore through 3 per cent stake sale to institutional and retail investors in state-owned Coal India at a floor price of Rs 225 apiece. The holding of the government has come down

TPG sells stake in Shriram Finance for Rs 1,400 cr, Piramal to follow suit

Shriram Finance last year became India's largest non-bank lender after merger of units

CDPQ divests 0.89% stake in Piramal Pharma via open market transaction

CDPQ on Friday divested a 0.89 per cent stake in Piramal Pharma Ltd for Rs 100 crore through an open market transaction. Caisse De Depot Et Placement Du Quebec (CDPQ) is a global investment group. According to the bulk deal data available with the National Stock Exchange (NSE), CDPQ offloaded a total of 1,05,70,466 shares, amounting to a 0.89 per cent stake in Piramal Pharma. The shares were sold at an average price of Rs 94.48 apiece, taking the transaction size to Rs 99.86 crore. Post the latest transaction, CDPQ's shareholding has been reduced to 4.64 per cent from 5.53 per cent at March-end. Meanwhile, Vanguard Group acquired more than 62 lakh shares of Piramal Pharma at an average price of Rs 94.71 per share, while other buyer(s) identity is not known. Shares of Piramal Pharma went up 3.04 per cent to close at Rs 94.95 per piece on the NSE. In a separate bulk deal, SmallCap World Fund Inc offloaded more than 7 lakh shares of Aavas Financiers for nearly Rs 96 crore through a

Highdell Investment sells 6.2% stake in Kalyan Jewellers for Rs 725 cr

Highdell Investment, owned by US-based private equity major Warburg Pincus, on Friday divested a 6.2 per cent stake in Kalyan Jewellers India Ltd for Rs 725 crore through an open market transaction. Franklin Templeton Mutual Fund (MF), Sundaram MF, BNP Paribas Arbitrage, Citigroup Global Markets Mauritius, and Employees Provident Fund, among others, were the buyers of the shares of Kalyan Jewellers. Following the deal, shares of Kalyan Jewellers zoomed 17.16 per cent to close at Rs 133.80 per piece on the National Stock Exchange (NSE). According to the block deal data available with the NSE, Highdell Investment sold a total of 6,41,02,561 shares, amounting to a 6.2 per cent stake in the jeweller chain company. The shares were disposed of at an average price of Rs 113.10 apiece, taking the transaction size to Rs 724.99 crore, as per the data. Post the latest transaction, Highdell's shareholding has been reduced to 17.6 per cent from 23.82 per cent stake at the end of March. In Mar

Isuzu may sell 44% stake in India unit as it exits low-profit businesses

Japanese firm, whose stake is valued at Rs 734 cr, is talking to several potential investors including JBM Auto, a media report said on Friday

JBM Auto top contender for controlling stake in SML Isuzu: Report

JBM is mulling various options to acquire the shareholding, including cash as well as a share swap deal, the report added

SoftBank looking to book profits by selling shares in Zomato, Paytm: Report

The shares will be sold in small tranches in the open market and not through block deals

Bain Capital sells 0.7% stake in Axis Bank via open market transactions

US-based private equity major Bain Capital on Thursday offloaded a 0.7 per cent stake in private sector lender Axis Bank for Rs 2,178 crore through open market transactions. Bain Capital through its affiliates -- BC Asia Investments III, BC Asia Investments VII and Integral Investments South Asia IV -- sold the shares of Axis Bank in three tranches. Bajaj Allianz Life Insurance Company, ICICI Prudential Mutual Fund, Goldman Sachs (Singapore), Morgan Stanley Asia Singapore, Societe Generale, the Sultanate of Oman Ministry of Defence Pension Fund, Bay Pond Partners LP, and among others were the buyers of the shares. BC Asia Investments III, BC Asia Investments VII and Integral Investments South Asia IV offloaded a total of 2,25,00,001 shares, amounting to a 0.7 per cent stake in Axis Bank, as per the block deal data available with the National Stock Exchange (NSE). The shares were disposed of at an average price of Rs 968 apiece, taking the combined transaction value to Rs 2,178 ...

US PE firm Bain Capital plans to sell $267 mn stake in Axis Bank: Report

The stake sale would likely be at an offer price range of 964.00 rupees to 977.70 rupees per share, the report added

Peak XV Partners received 15x return on its investment in Go Fashion

In November 2014, Peak XV Partners had acquired a 33.3 per cent stake in Go Fashion for Rs 60 crore

Gangwal family may sell up to 8% stake in Indigo via block deals by July

The family is bringing its stake down since September last year when it first sold a tranche of 2.8 per cent worth Rs 2,000 crore

IndiGo co-founder's family likely to sell stake worth up to $909 mn: Report

The family of IndiGo's co-founder Rakesh Gangwal was likely to sell between 5% and 8% stake in the Indian airline's parent InterGlobe Aviation Ltd, CNBC Awaaz said in a report, citing sources.

LIC raises Tech Mahindra stake by 2 pts via open-market acquisition to 8.8%

Life Insurance Corporation of India (LIC) has raised its stake in IT firm Tech Mahindra Ltd by about 2 per cent through open market acquisition. LIC bought 1.9 crore shares or 2.01 per cent of equity capital at an average price of Rs 1,050.77 per unit, the insurer said in a regulatory filing. The insurer bought the additional shares between November 21, 2022 and June 6, 2023 for about Rs 2,000 crore. Following this, holding in Tech Mahindra Ltd increased to 8.84 per cent, it said. Prior to the acquisition, LIC held 6.86 per cent stake in Tech Mahindra Ltd.

Govt gets Rs 4,185 cr through 3% stake sale in state-run Coal India

The government has mopped up Rs 4,185 crore through a three per cent stake sale in state-run Coal India. The holding of the government has come down to 63.13 per cent in the coal producer after the offer-for-sale (OFS), CIL said in a stock exchange filing. The government has received Rs 4,185 crore through a 3 per cent stake sale in state-run Coal India, as per the Department of Investment and Public Asset Management (DIPAM) website. The government last week sold three per cent stake in CIL and the issue was oversubscribed by both retail and institutional investors. So far in the current fiscal, the government has mopped up Rs 4,235 crore from PSU stake sale. The full-year target from disinvestment has been pegged at Rs 51,000 crore.

Govt engaging with Vedanta to facilitate its residual stake sale in BALCO

In 2001, government had disinvested 51 per cent shares of BALCO to Sterlite Industries Limited, a subsidiary of Vedanta Limited

Apollo Hospitals to raise $200 mn by selling 6% stake in online platform

In May, Apollo's fourth-quarter revenue from healthcare services climbed 18.5% and accounted for 51% of its total revenue

Aurum PropTech to fully acquire home rental platform NestAway for Rs 90 cr

Aurum PropTech on Friday said it will acquire up to 100 per cent stake in home rental platform NestAway Technologies for a cash consideration of up to Rs 90 crore. Founded in 2015, NestAway caters to individuals looking for rental housing in major cities. In a regulatory filing, Aurum Proptech informed that its executive investment committee has approved the acquisition of up to 100 per cent share capital of NestAway Technologies Pvt Ltd for a cash consideration of up to Rs 90 crore. NestAway secured a cumulative funding of USD 110 million at the latest valuation of USD 220 million in 2019, garnering investments from marquee investors such as Tiger Global, UC-RNT Fund, Flipkart, Goldman Sachs and Yuri Milner, the filing said. Besides, Rs 90 crore deal to acquire up to 100 per cent stake, Aurum PropTech said it will inject Rs 30 crore to stabilize the business. "This capital infusion in NestAway is a testament to Aurum PropTech's conviction in India's USD 20-billion rental housing

Government proposes to sell up to 3% stake in Coal India on June 1

The government on Wednesday proposed to sell up to three per cent stake in Coal India Ltd through the offer for sale route from June 1. The Offer for Sale (OFS) will be open for retail and non-retail investors on June 1 and 2. The proposal is to offload 9.24 crore shares amounting to a stake of 1.5 per cent in the coal producer. Besides, there will be a green shoe option for selling an equal amount of stake in case of over subscription, according to a regulatory filing. At the closing price of Rs 241.20 apiece on BSE on Wednesday, the sale of 3 per cent stake in Coal India would be worth around Rs 4,400 crore. "The seller proposes to sell up to 9,24,40,924 equity shares of face value of Rs 10 each of the company (representing 1.50 per cent of the total paid-up equity share capital of the company) (base offer size), on June 1st and 2nd for retail investors and non retail investors," the filing said. There will be an option to additionally sell 9,24,40,924 (1.50 per cent) equity .

Abrdn likely to sell its 1.66% stake in HDFC Life via block deals: Report

Back in 2022, Abrdn Investment also divested a 5.58 per cent stake in HDFC AMC for more than Rs 2,300 crore through an open market transaction

ICICI Lombard soars 14% as ICICI Bank plans to buy additional 4% stake

ICICI Bank would acquire at least 2.5 per cent stake out of the above 4 per cent before September 9, 2024.