Page 20 - Stake Sale

SAIL OFS subscribed over 5 times; govt to get Rs 2,664 cr from stake sale

The government is expected to garner Rs 2,664 crore from offloading 10 per stake sale in India's largest steelmaker SAIL through an offer for sale (OFS)

Indiabulls Housing Finance in talks with PEs to sell 15-20% stake

Investor to become single-largest shareholder; Sameer Gehlaut likely to step down as promoter

SAIL OFS oversubscribed 3.6 times on day one; govt to use greenshoe option

The government's sale of its 5 per cent shareholding in India's largest steelmaker SAIL was over-subscribed 3.6 times on the first day of its opening

Govt to sell up to 10% in SAIL via OFS, may fetch Rs 2,600 crore

On offer are 206.5 million shares, or 5% of company's stock, at a floor price of Rs 64 a share, with option to sell another 5% if issue is oversubscribed

RInfra completes stake sale in PKTCL to India Grid for Rs 900 crore

The proceeds will be utilised for debt reduction, and the company''s dues will come down by 6 per cent to Rs 13,100 crore from Rs 14,000 crore

PSUs divestment: The act of setting ambitious targets and falling short

The current fiscal year (2020-21) for divestment has been challenging, with the Covid-19 pandemic having dragged the markets to record lows

BEML, RCF: Divestment may trigger a breakout in PSU stocks, charts show

If the Nifty PSE Index sustains above 2,800 levels on the closing basis, it may see a rally towards 3,100 levels

IDBI Bank sells 23% stake in its life insurance arm to Ageas for Rs 507 cr

With this, Ageas will hold 49% in the insurance venture, which is being rebranded as Ageas Federal Life Insurance Company

LIC sells 2% stake in pvt lender ICICI Bank via open market transactions

Following the stake sale, LIC's holding in the bank has reduced to 6.74 per cent from 8.74 per cent earlier,

Infosys divests partial stake in US-based Whoop for about $10 million

IT services major Infosys on Friday said it has divested one-third of its holding in US-based Whoop for about USD 10 million (about Rs 73.5 crore). In 2015, Infosys had announced making a USD 3 million investment in US-based wearable device startup Whoop for a minority shareholding in the company. "The company had made a minority investment of USD 3 million during December 2015 in Whoop Inc, the human performance company headquartered in Boston, USA. ...The company would like to inform that it has divested one-third of its holding for about USD 10 million," Infosys said in a filing on Friday.

BPCL board approves buying out Oman Oil's stake in Bina refinery

The board also approved a proposal to approach the Madhya Pradesh government for acquiring 2.69 crore warrants held by it in BORL

Planning for non-core asset sale, govt dividend now mandatory for PSUs

Listed public sector firms will have to maintain their m-cap at a certain level

Standard Life cuts 1.38% stake in HDFC Life, raises Rs 1,720 crore

Following the share sale, Standard Life's stake in HDFC Life declined to 8.89% Following the share sale, Standard Life's stake in HDFC Life declined to 8.89%

Bharti Infratel, Indus Towers merge; VIL gets Rs 3,760 cr for Indus holding

Vodafone Group will hold 28.12 per cent stake in the merged entity, while the holding of Airtel Group will be about 36.7 per cent

Bombay High Court impleads T Rowe Price in UTI AMC's stake sale petition

This year the Officers Association filed an interim application pleading urgent hearing of the writ petition ahead of the IPO and to implead T Rowe Price as a respondent

Shapoorji Pallonji Group yet to send formal request for separation: Tatas

Tata Sons reiterates that it will only respond in court; settlement remains deadlocked

Rabo Equity sells entire 21.7% stake in Vacmet for around Rs 140 cr

Rabo Equity has sold its entire stake in Vacmet Ltd for around Rs 140 crore back to promoters, thus making an exit from the investment made in 2010

Japan's Mitsui, Nippon Soda acquire 56% stake in Bharat Insecticides

Japanese companies Mitsui and Nippon Soda have acquired 56 per cent stake in agro-chemical firm Bharat Insecticides Ltd (BIL). As a result of this deal, BIL has become a group company of Mitsui & Co Ltd and Nippon Soda Co Ltd (Nisso), the Delhi-based company said on Wednesday, without disclosing the deal value. "Mitsui and Nisso have acquired 56 per cent stake in BIL through a special purpose company co-founded by Nisso and Mitsui. The BIL's promoters will continue to hold balance shares in BIL," the company said in a statement. The new relationship with Mitsui and Nisso will further strengthen BIL's ability to deliver innovative crop protection products and support sustainable growth of India's agriculture sector, it added. BIL's founder promoter Sat Narain Gupta said, "This is a momentous occasion for us. BIL was started 43 years back with just 2 products and since then, BIL has come a long way. We hope that being part of Mitsui group will take BIL to the next level." Other ...

Indiabulls Housing raises Rs 1,205 cr via QIP, stake sale in OakNorth

The non-banking finance company (NBFC) has raised Rs 682.87 crore through the QIP and Rs 522 crore from the partial stake sale

Carlyle may take $2 billion stake in retail arm of Reliance: Report

Carlyle Group is looking to invest up to $2 billion in Reliance Industries' retail business