Page 14 - Stake Sale

HDFC AMC gains 3% as promoter abrdn plans to sell entire 10.2% stake

abrdn Investment Management is to place up to 21.12 million shares (i.e. 9.9 per cent) with a single buyer with the rest being sold separately, subject to feasibility.

Govt clarifies foreign funds can own over 51% stake in IDBI Bank

This comes ahead of the December 16 deadline for potential bidders to submit EoIs for picking up majority stake in the private sector lender

Softbank halves stake in Policy Bazaar parent, mops up Rs 1,043 crore

Sells 22.84 million shares, or 5.08% stake, at Rs 456.4 apiece; 30 institutional investors among buyers

Aditya Birla Group led incubator buys majority stake in 8 lifestyle brands

With these eight brands on board, TMRW has achieved a revenue run-rate of over Rs 700 crore and is on a path to cross an annual revenue rate of Rs 1,500 crore in the next 12 months

Sukoon Healthcare secures $15 mn from Lightrock for a majority stake

The in-patient psychiatric facility Sukoon Healthcare has secured USD 15 million (about Rs 120 crore) investment from Lightrock India for a majority stake in the hospital. The Gurugram-based hospital in a statement on Wednesday claimed that the investment is the largest in the domestic mental health space so far and will help it create a large therapeutic behavioural health platform. Sukoon -- which delivers evidence-based, globally accredited care and treatment to mental patients -- said it will use the money to scale to multiple locations, expand specialist services and work with other providers. Various estimates put the number of people who suffer from mental health issues at around 200 million, and of them, at least 1 per cent require inpatient treatment. But, there is a severe shortage of specialists to provide care, with only around 10,000 psychiatrists and 1,000 clinical psychologists available in the country today. Founded by Vidit Bahri and Kanishk Gupta in February 2020,

Adani group's Rs 493 cr open offer for NDTV to start from Tuesday

Adani group's open offer to acquire an additional 26 per cent stake in the media firm New Delhi Television (NDTV) from the market would start from Tuesday. The offer, for which a price band of Rs 294 per share has been fixed, will open on November 22 and closes on December 5, said a notice by JM Financial, the firm managing the offer on behalf of Adani Group firms. Markets regulator Sebi on November 7 granted its approval to the proposed Rs 492.81 crore-open offer. The conglomerate, run by India's richest man Gautam Adani, in August acquired a little-known company that lent over Rs 400 crore to NDTV's founders more than a decade ago in exchange for warrants that allowed the company to acquire a stake of 29.18 per cent in the newsgroup at any time. Post that, VCPL - the firm that the Adani group bought out - announced that it would launch an open offer on October 17 to buy an additional 26 per cent stake from minority shareholders of NDTV. However, the offer was delayed since Sebi h

Paytm can slip below Rs 400 if Bears tighten grip; Delhivery may hit Rs 300

Paytm dived over 10 per cent in intraday deals on Thursday amid heavy volume of around 4 million shares. The stock now seems headed to test support at its all-time low of Rs 510.

SoftBank sells 4.5% stake in Paytm for $200 million, says report

SoftBank's sale of 29.35 million shares at that price amounts to a total consideration of $200 million, according to Reuters calculations

Top headlines: Windfall tax on crude hiked, India's 1st export contraction

Business Standard brings you the top headlines at this hour

Budget 2023-24: Disinvestment target likely to stay elevated for FY24

The sources said that the government expects over Rs 60,000 crore from the IDBI stake sale.

Sebi approves Adani's open offer for 26% additional stake in NDTV

Last week, the Adani group had revised the open offer timeline to Nov 22; offer price of Rs 294 a share is at a 24% discount to NDTV's closing price of Rs 365.85 on Monday

Tiger Global sells 3.5% stake in PB Fintech for nearly Rs 606 crore

Tiger Global Management on Friday divested 3.5 per cent stake in Policybazar's parent firm PB Fintech for nearly Rs 606 crore through open market transactions. Funds managed by Tiger Global -- Tiger Global Eight Holdings and Internet Fund III Pte -- sold a total of 1,60,56,422 shares, amounting to 3.57 per cent stake in the company, as per bulk deal data available with the National Stock Exchange (NSE) and BSE. The shares were disposed of at an average price of Rs 374.09-Rs 388.34 apiece, taking the transaction value to Rs 605.86 crore. However, buyer(s) of the shares could not be ascertained. As of quarter ended September, Tiger Global through its fund Tiger Global Eight Holdings owned 4.23 per cent and Internet Fund III held 2.87 per cent stake in the company, shareholding data showed with the exchanges. On Friday, shares of PB Fintech closed 6.95 per cent higher at Rs 399.90 on NSE and Rs 399.30 on BSE.

Indian govt to sell 1.55% stake in Axis Bank via offer for sale: SUUTI

Floor price for the offer is 830.63 rupees per share, it added. The offer will be concluded over Thursday and Friday, with non-retail investors bidding on first day and retail investors on second day

Govt to exit Axis Bank with 1.55% stake sale, expects to garner Rs 4,000 cr

In May last year, the government sold of 1.95 per cent stake in Axis Bank held through SUUTI for a consideration of about Rs 4,000 crore

Govt equity in Vodafone Idea hinges on stock recovery: Indus Towers

Any equity infusion cannot be below par value, says Indus Towers in its Q2 report

IDBI Bank's proposed stake sale likely to run into regulatory hurdle

Sebi raises concern over low public float in the lender

Nomura Singapore sells 1.52% stake in CSB Bank worth Rs 61 crore

Nomura Singapore on Tuesday divested 1.52 per cent stake in private sector lender CSB Bank for over Rs 61 crore through an open market transaction. According to bulk deal data available with the National Stock Exchange (NSE), Nomura Singapore offloaded 26,39,673 shares, amounting to 1.52 per cent stake in the company. The shares were disposed off at an average price of Rs 232.3 apiece, taking the transaction value to Rs 61.31 crore. Meanwhile, Maybank Securities Pte bought the shares at the same price. On Tuesday, shares of CSB Bank closed 2.42 per cent lower at Rs 228.20 apiece on NSE.

Sojitz Corp sells 2.83% stake in Samvardhana Motherson for Rs 825 crore

Sojitz Corporation on Tuesday divested 2.83 per cent stake in auto component major Samvardhana Motherson International for Rs 825 crore through an open market transaction. According to the bulk deal data available with the BSE, Sojitz Corporation offloaded 12,80,00,000 shares, amounting to 2.83 per cent stake in the company. The shares were disposed of at an average price of Rs 64.53 apiece, taking the transaction value to Rs 825.98 crore. In July 2020, the Motherson Group announced that they will reorganise its businesses and will change the name of Motherson Sumi Systems Ltd (MSSL) to Samvardhana Motherson International Ltd (SAMIL). Shares of Samvardhana Motherson International closed 7.73 per cent lower at Rs 63.85 apiece on the BSE.

Invesco sells 5.5% stake in Zee for Rs 1,396 cr at Rs 263.7 a share

Morgan Stanley, Citigroup, Bank of America, Abvendus, ICICI Prudential MF were some of the buyers

Invesco to sell 5.51% stake in Zee Entertainment for over Rs 1,300 cr

This is the second block deal by Invesco in seven months, which offloaded 7.8% stake in Zee Entertainment in April