Page 18 - Stake Sale

Reliance Retail buys controlling stake in Just Dial for Rs 5.7k crore

Will acquire 25.33% stake via preferential allotment at Rs 1,022.25 a share, another 15.62% from Just Dial founder V S S Mani. It will later make an open offer for 26% as per Sebi rules

KKR completes stake buy in FOGG brand owner Vini Cosmetics for Rs 4,600 cr

Global investment firm KKR on Thursday said it has completed the Rs 4,600-crore deal to buy a majority stake in deodorant maker Vini Cosmetics.

Marico acquires 60% stake in Apcos Naturals that owns 'Just Herbs'

The stake will be acquired over a period of two years through primary infusion and secondary buy-outs

Thailand's Global Power System acquires 41% stake in Avaada Energy

The acquisition has been made through Global Renewable Synergy Company Ltd, a wholly-owned subsidiary of Global Power Synergy Public Company Limited

CCEA clears LIC disinvestment; FM-led panel to decide quantum of stake sale

The government has already brought in required legislative amendments in the LIC Act for the proposed IPO

Tata go-ahead not needed to pledge shares, says Shapoorji Pallonji Group

Has approached foreign banks for a Rs 5,000-crore bridge loan

NMDC's Rs 3,600-cr share sale fully subscribed, most bids come in at Rs 166

A total of 219.5 mn shares were put on the block by govt;OFS) has garnered bids for 220.45 mn shares from institutional investors--1.15 times the shares on offer to them

Govt to sell up to 7.5% in NMDC via OFS on Tuesday, may get Rs 3,621 cr

Will sell its 4% stake, or 117.2 million shares, at a floor price of Rs 165 each, a near 6% discount to Monday's closing price

UTI Officers' Association moves top court in 26% stake sale case

Bombay HC recently dismissed the case citing delay in filing

Edelweiss Financial Services to sell its 70% stake in insurance broking JV

Edelweiss Financial Services on Friday said it will exit the insurance broking business by selling its 70 per cent stake in Edelweiss Gallagher Insurance Brokers Ltd for Rs 307.60 crore. "The company has entered into an agreement... to divest its entire shareholding (currently 70 per cent) in Edelweiss Gallagher Insurance Brokers Ltd, a subsidiary, engaged in the business of insurance broking to Arthur J Gallagher & Co...," Edelweiss Financial Services said in a regulatory filing. Gallagher, who previously held 30 per cent in the business, will now be acquiring all the remaining shares, taking its stake to 100 per cent, the filing added. The company said, as per the agreement 37,00,000 equity shares of Rs 10 each representing 70 per cent of the paid up share capital of Edelweiss Gallagher Insurance Brokers held by the company to be sold for a consideration of Rs 307.60 crore, in one or more tranches, in the manner as set out in the agreement. In addition to the sale consideration,

Panasonic sells Tesla stake for $3.6 billion, may use cash for investments

The sale comes as the bicycles-to-hair dryers conglomerate is seeking to reduce its dependence on Tesla and raise cash for investing in growth

Panasonic sold its entire stake in Tesla last financial year: Nikkei

Japan's Panasonic Corp sold all of its stake in Tesla Inc last financial year which helped it earn billions of dollars in proceeds to fund new investments, the Nikkei business daily reported

KKR pays Rs 4,600 cr for majority stake in FOGG brand owner Vini Cosmetics

Personal care company's founding members will continue to hold a stake in the business.

HDFC Bank to buy 4.99% stake in HDFC ERGO for Rs 1,906 crore

The bank has been a distribution partner of the insurer since 2009.

IT firm Wipro sells entire stake in Denim Group for $22.4 million

IT company Wipro on Wednesday said it has sold its entire stake in Denim Group for a consideration of USD 22.42 million (about Rs 160 crore).

Wipro sells stake in Denim Group for $22.42 mn, acquires stake in Squadcast

Wipro, in 2018, had acquired 33.33 per cent stake in Denim Group, an independent application security firm, for $8.83 mn

BPCL may sell some stake in IGL, Petronet to shed promoter status

BPCL is a promoter of 2 companies and since there is a change in ownership of the promoter firm, an open offer is triggered under Sebi (Substantial Acquisition of Shares and Takeovers) Regulations

IDBI Bank: A dilemma of 'parallel sales' in the Indian financial sector

A buyer of the government's stake will have to contend with simultaneous market sales by the other major shareholder, LIC

Govt gives bidders data access for $7-billion Bharat Petroleum Sale

The government's 53% stake in the refiner is valued at about Rs 50,900 crore based on Friday's closing price

Carlyle sells 4.2% in SBI Life at Rs 960 per share in pre-market deal

CA Emerald Investments, an affiliate of Carlyle Asia Partners, sold a total of 4.23 million shares for Rs 4,061 crore