Page 2 - Stake Sale

Boeing considers raising at least $10 billion by selling stock: Report

The planemaker is working with advisers to explore its options, the report said, adding that raising equity is not likely to happen for at least a month

AT&T sells 70% stake in DirecTV to private equity firm TPG for $7.6 bn

AT&T would receive an initial payment of $2 billion in 2025, and additional payments through 2029, the company said in a filing on Monday

Edelweiss Fin Services sells 6.2% stake in Nuvama Wealth for Rs 1,481 cr

Edelweiss Financial Services on Friday sold a 6.2 per cent stake in financial services company Nuvama Wealth Management for Rs 1,481 crore through open market transactions. Edelweiss Financial Services, through its two subsidiaries, ECap Equities and Edel Finance Company, sold shares of Nuvama Wealth through separate block deals on the BSE. ECap Equities offloaded 17.09 lakh shares of Nuvama Wealth Management while Edel Finance Company sold 5 lakh shares, amounting to a total of 6.24 per cent stake in the company. The shares were offloaded at an average price of Rs 6,702.6 apiece, taking the aggregate deal value to Rs 1,481.21 crore. At the end of the June quarter, Edel Finance Company held a 5.18 per cent stake in Nuvama Wealth Management, and Ecap Equities owned an 8.44 per cent holding in Mumbai-based Nuvama Wealth Management, BSE data showed. Societe Generale, Capri Global Holdings, Goldman Sachs, Ghisallo Master Fund LP, Morgan Stanley, New York State Teachers Retirement Syst

Gulf Oil Lubricants India promoter sells 4% stake for over Rs 263 crore

Gulf Oil International Mauritius Inc, promoter of Gulf Oil Lubricants India, on Thursday divested a 4 per cent stake in the company for over Rs 263 crore through open market transactions. According to the block deal data available on the BSE, Gulf Oil International Mauritius Inc. offloaded 19,50,000 shares, amounting to a 3.96 per cent stake in Gulf Oil Lubricants India. The shares were disposed of at an average price of Rs 1,351 apiece, taking the transaction value to Rs 263.44 crore. After the stake sale, Gulf Oil International Mauritius' holding has come down to 67.8 per cent from 71.76 per cent. UTI Mutual Fund (MF), ITI MF, Baroda BNP Paribas MF, JM Financial MF, Aditya Birla Sun Life Insurance, Axis Securities and Societe Generale were among the buyers of Gulf Oil Lubricants India's shares. Shares of Gulf Oil Lubricants India declined 4.88 per cent to close at Rs 1,370.95 apiece on the BSE. In a separate transaction on the BSE, Cube Highways and Infrastructure II sold 1.16

Nomura, Mizuho leading bidders for majority stake in Avendus Capital

KKR and Avendus management are working together on the sale, the people said

L&T acquires 12.25% stake worth Rs 12.5 crore in quality management firm

Engineering and construction giant Larsen & Toubro has acquired 12.5 million equity shares in not-for-profit company Indian Foundation for Quality Management

Adani Group eyes 46.64% stake acquisition in ITD Cementation India

Acquisition in ITD Cementation India would strengthen Adani Group's civil engineering capabilities

Govt approves sale of FSNL to Japan's Konoike Transport for Rs 320 cr

The government on Thursday approved the privatisation of Ferro Scrap Nigam Ltd (FSNL) to Japanese corporation Konoike Transport Co Ltd for Rs 320 crore. Under the Steel Ministry, FSNL is a 100 per cent subsidiary of MSTC Ltd. The government had received two technically qualified financial bids for the company. The Alternative Mechanism, comprising Transport Minister Nitin Gadkari, Finance Minister Nirmala Sitharaman and Steel Minister H. D. Kumaraswamy, have approved the highest bid amounting to Rs 320 crore of Konoike Transport Co Ltd for sale of 100 per cent equity shareholding of MSTC Ltd in FSNL along with transfer of management control, a finance ministry statement said. The 320 crore bid was higher than the reserve price of Rs 262 crore set by the government on the basis of valuation carried out by the Transaction Adviser and Asset Valuer. The strategic sale of FSNL received two technically qualified financial bids. The bid submitted by Konoike Transport Co. Ltd at Rs 320 cr

GE T&D stock hits 5% lower circuit as promoters begin stake sale via OFS

Promoters propose to sell an 11.7 per cent stake in the company equivalent to 30,000,000 equity shares via OFS on September 19 and 20

Aurobindo to acquire remaining 49% stake in GLS Pharma for Rs 22.5 crore

Aurobindo Pharma Ltd on Wednesday said it will acquire the balance 49 per cent stake in GLS Pharma Ltd for Rs 22.5 crore to make the latter a wholly-owned subsidiary. The company has entered into a binding agreement on September 18, 2024, with GLS Pharma Ltd and its promoters for acquisition of remaining 5,90,361 equity shares of Rs 10 each amounting to 49 per cent stake for a purchase consideration of Rs 22.5 crore. The shares are being acquired at a price of Rs 381.12 per share, Aurobindo Pharma said in a regulatory filing. "This acquisition is undertaken to hold the entire ownership of GLS by the company," it said, adding that the transaction is estimated to be completed before December 31, 2024. Aurobindo acquired a 51 per cent stake in GLS Pharma from promoters Suresh Pathak and his family members on June 17, 2022. GLS is engaged in oncology products, which include orals and injectables used in chemotherapy for solid malignancies, chemotherapy for hematological malignancies an

Indo National divests its entire 51% stake in Kineco for Rs 220 crore

Indo National Ltd, the manufacturer of consumer electrical products and dry cell batteries under brand Nippo, on Tuesday, announced to divest its entire 51 per cent stake in Kineco Ltd, a composites manufacturer, for Rs 220 crore. The Chennai-based manufacturer plans to deploy the funds in new-age enterprises, aerospace and defence industries, as well as across diverse categories of the fast-moving consumer goods sector, according to a statement. "The board of directors decided to sell its 51 per cent stake in Kineco Limited to a consortium of investors for a consideration of Rs 220 crore," it said. Indo National is the second-largest player in the dry cell industry, with a production capacity of 800 million batteries per annum. Besides it also has a presence in consumer electricals and torchlights manufacturing. In 2016, the company invested in Kineco, a key composites business offering a wide range of products and processing technologies for defence, railways and industrial ...

Max Financial Services' promoter sells 3.18% stake for Rs 1,218 cr

Max Ventures Investment Holdings, a promoter entity of Max Financial Services, on Thursday divested a 3.18 per cent stake in the company for Rs 1,218 crore through an open market transaction. Analjit Singh-promoted Max Financial Services Ltd (MFSL), a part of the Max Group, is the holding company for Max Life Insurance. According to the bulk deal data available on the National Stock Exchange (NSE), Max Ventures Investment Holdings sold a total of 1,10,00,000 shares amounting to a 3.18 per cent stake in Noida-based Max Financial Services. The shares were disposed of at an average price of Rs 1,107.37 apiece, taking the transaction value to Rs 1,218.11 crore. After the latest transaction, the combined shareholding of promoters in MFSL has declined to 3.34 per cent from 6.52 per cent. Details of the buyers of Max Financial Services' shares could not be ascertained. Shares of Max Financial Services Ltd fell 1.42 per cent to close at Rs 1,117.25 apiece on the NSE. In August last year

Edelweiss founders divest stake in Nuvama Wealth Management after demerger

Nuvama Wealth Management was listed on the BSE and NSE in September 2023, following the demerger of Edelweiss Financial Services' wealth management business

Premji Invest, Claypond in $125 mn talks for minority stake in Akasa Air

The raised funds are expected to support Akasa Air's expansion plans and cover pre-delivery payments for new aircraft

JK Tyre to invest Rs 1.32 cr to acquire 26% stake in solar energy venture

JK Tyre and Industries is set to invest Rs 1.32 crore for 26% stake in solar power firm Truere Galaxy, that was incorporate less than five months ago

Big overseas buys: Boost for footprint, mixed bag for bottom line

Profitability has been a mixed bag amid operational challenges

ONGC, JSW, Sembcorp shortlisted for majority stake in $800 mn Ayana deal

Ayana Renewable Power, backed by NIIF manages a 5 GW portfolio of operational and under-construction projects. The company is open to sell up to 100% of its stake

Hindustan Zinc dips 4% as Vedanta board okays 2.6% stake sale via OFS

Meanwhile, Hindustan Zinc has dismissed rumours of Rs 6,000 crore worth special dividend.

SBI aims to sell its YES Bank stake worth $2.2 billion by March-end

YES Bank was restructured by the RBI in March 2020 with the help of a consortium of local banks after its financial health deteriorated

Rashtriya Ispat Nigam stake sale plan likely to pick up pace this year

The Centre holds 100% in Visakhapatnam steel plant. RINL is the parent company of Eastern Investments Ltd (EIL), owning 51% in it