The BSE had sought clarification from Orient Cement on January 3, 2023, regarding reports stating that Adani Group was in talks to buy promoter stake In the company
RBI gave approval to SBI Funds Management Limited (SBIFML) to acquire up to 9.99 per cent of the paid-up equity capital of the Bank through the schemes of SBI Mutual Fund (SBIMF).
FMCG firm Tata Consumer Products Ltd (TCPL) on Thursday said it has acquired 23.3 per cent additional shares of South Africa-based Joekels Tea Packers for Rs 43.65 crore through a step-down subsidiary. Tata Consumer Products Overseas Holdings Ltd (TCP Overseas) -- a step-down wholly-owned subsidiary of the company through Tata Consumer Products UK Group -- "has decided to purchase 23.3 per cent of the share capital of Joekels Tea Packers, Republic of South Africa from its Joint-Venture partners," said a regulatory filing. This is as per the terms of the share purchase agreement and the shareholders' agreement, finalised and executed, amongst TCP Overseas, Joekels and the JV Partners, it added. Over the cost of the acquisition of the stake, the Tata group FMCG arm said it is for a consideration value of Rs 43.65 crore plus the adjustment amount. As a result of the acquisition, the "holding of TCP Overseas in Joekels will increase from 51.7 per cent to 75 per cent" of the equity shar
Education content company exits second edtech investment, after dropping out of Testbook Edu Solutions
Senior officials say govt plans to bring own shareholding down to 75%;
" The purpose of doing this transaction is to raise funds for financing some ventures in the private hands of the Burman family," the exchange filing said
If the deal goes through, Tata AMC and UTI AMC's combined entity could become the fourth-largest asset manager in India
Shares of GMM Pfaudler fell as much as 18.1%, their worst intraday percentage fall in nearly five years, after a report said that one of its promoters will sell the bulk of its stake
Auto component maker Shriram Pistons & Rings on Friday said its unit will acquire a majority stake in electric motor design and manufacturing firm EMF Innovations to foray into the electric vehicle mobility space. SPR Engenious Ltd (SEL), a wholly-owned subsidiary of the company, is slated to acquire the stake. The financial details of the deal were not disclosed. EMF Innovations (EMFI) is co-founded by engineering entrepreneurs with substantial R&D and operations in India and Singapore. Shriram Pistons & Rings (SPRL) Managing Director & CEO Krishnakumar Srinivasan said that with this strategic investment, the company aims to expand its presence in electric vehicle (EV) space to supply electric powertrain components, such as motor and controller, covering all the vehicle segments from two-wheelers, three-wheelers, passenger vehicles and commercial vehicles. The alliance will also offer the potential for SPRL (through SEL) and EMFI to collaborate and partner to serve ...
Investors fear supply overhang; Centre has now reduced stake in firm by 25% in 3 years
The sale of government's up to 5 per cent stake in IRCTC got over-subscribed on the first day of the offer, with institutional investors putting in bids worth Rs 3,800 crore. In the two-day offer-for-sale (OFS), the government is selling 4 crore shares or 5 per cent stake in Indian Railway Catering and Tourism Corporation (IRCTC) at a floor price of Rs 680 a share. The OFS consists of base issue size of 2 crore shares or 2.5 per cent stake, with an option to retain over-subscription of similar amount. As much as 10 per cent of the issue is reserved for retail investors, for whom bidding would open on Friday. On Thursday, bids for over 5.55 crore shares, representing 3.08 times the base issue size of 1.80 crore shares were put in by institutional investors. Calculated on the basis of the floor price, the bids would be valued at about Rs 3,800 crore. Shares of IRCTC settled at Rs 689.20 apiece, down 6.19 per cent over the previous close on the BSE. During the day, the scrip touched
The floor price for the OFS was set at Rs 680, a 7.4 per cent discount to Wednesday's closing price of Rs 734.70.
Floor price fixed at Rs 680/share, an over 7% discount to Wednesday closing price
Consortium of foreign funds, investment companies will be allowed to own over 51% of IDBI Bank
The offering could be Tata group's first since listing of TCS in 2004
The government will assess the appetite of large foreign funds in Hindustan Zinc before taking a decision on the timing of dilution of its minority equity stake in the Anil Agarwal-owned metal company, an official has said. The government currently holds a 29.54 per cent stake in HZL, while a 5.54 per cent stake is with public shareholders. Mining mogul Anil Agarwal's Vedanta Ltd is the promoter with a 64.92 per cent stake in HZL. The Cabinet Committee on Economic Affairs (CCEA) approved the sale of 124.79 crore shares or 29.54 per cent stake the government holds in the zinc producer. At the current price of Rs 316 a share, a 29.54 per cent stake would fetch about Rs 39,000 crore to the government. The official said since public float is only about 5 per cent, it would not be feasible for big investors, who put in lump sum funds in the company, as share availability in the market is limited. "Merchant bankers will first assess the interest of large fund houses in HZL. Once we get
Realty firm Macrotech Developers' promoters plan to raise about Rs 3,500 crore by selling shares to institutional investors, according to sources. Mumbai-based Macrotech Developers sells its properties under the Lodha brand. In a regulatory filing late on Wednesday, Macrotech Developers informed that the company has launched Qualified Institutional Placement (QIP) of the equity shares. The QIP consists of an offer-for-sale (OFS) of shares by promoter group entities -- Sambhavnath Trust, Sambhavnath Infrabuild and Farms Pvt Ltd, Hightown Constructions Pvt Ltd and Homecraft Developers and Farms Pvt Ltd. The promoters are selling shares for the purpose of achieving minimum public shareholding, the filing said. As on September 2022, promoters had 82.20 per cent stake in the company and they need to bring it down to 75 per cent in order to maintain the minimum 25 per cent public shareholding. Macrotech informed that the floor price has been fixed at Rs 1,022.75 per share but did not .
Deal could add to asset manager's investability weight in MSCI and FTSE indices, lead to higher foreign inclusion factor, they say
9-10 serious bidders seek clarity on the expression of interest
On December 6, Quant Mutual Fund - Small Cap Fund purchased 2.63 million shares representing 0.52 per cent of the total equity of Jindal Stainless at Rs 182.97 apiece on the NSE.