Page 7 - Stake Sale

IWEL raises Rs 800 crore through sale of equity shares of Inox Wind

Inox Wind Energy Ltd (IWEL) has raised Rs 800 crore through sale of equity shares of Inox Wind, according to a regulatory filing. The sale has been made through block deals on the stock exchanges, INOXGFL Group said in a BSE filing. "IWEL, the promoter of Inox Wind Ltd (IWL), successfully raised Rs 800 crore through sale of equity shares of Inox Wind via block deals on the stock exchanges," it said. The funds raised will be infused into IWL and utilized for the repayment of IWL's external debt, marking a significant step towards achieving a net-debt free status. The transaction witnessed strong participation across long-only domestic and foreign institutional investors, it said. Devansh Jain, Executive Director of INOXGFL Group, said "With today's transaction, we have taken a large step towards our goal of achieving a net debt-free status for Inox Wind Ltd. "As Inox Wind embarks on its next phase of growth, underpinned by India's renewable energy targets, its robust financial ...

Vodafone to sell Spanish arm to Zegona Communications for $5.3 billion

London-listed Zegona, chaired and managed by telecoms executive Eamonn O'Hare, has previously bought and sold assets in Spain, including regional operator Euskatel

Vodafone to sell Spanish arm to Zegona Communications for $5.3 billion

London-listed Zegona, chaired and managed by telecoms executive Eamonn O'Hare, has previously bought and sold assets in Spain, including regional operator Euskatel

Siemens Energy considering to sell substantial part of 24% stake to Siemens

The shares are currently worth about 3.3 billion ($3.5 billion). Siemens already owns 51% of the Indian business

Govt gets multiple expressions of interest for strategic sale of IMPCL

The government has received multiple expressions of interest for strategic sale of Indian Medicines Pharmaceutical Corporation Limited (IMPCL). "Multiple Expressions of Interest (EoIs) received for the strategic disinvestment of Indian Medicines Pharmaceutical Corporation Limited (IMPCL). The transaction will now move to the second stage," DIPAM Secretary Tuhin Kanta Pandey posted on X (formerly Twitter). The second stage would involve due diligence and subsequent issue of RFPs (request for proposals) for financial bids. The Department of Investment and Public Asset Management (DIPAM) had on August 31 invited EoIs from interested bidders for disinvestment of IMPCL. The last date for putting in preliminary bids was October 30. The government of India holds a 98.11 per cent stake in IMPCL, under the administrative control of the Ministry of Ayush. The remaining 1.89 per cent is held by Kumaon Mandal Vikas Nigam Ltd (KMVNL), an undertaking of the Uttarakhand government. KMVNL also ..

Vodafone nears stake sale in $5.3 bn Spanish unit to Zegona: Report

While discussions are at an advanced stage, they could still be delayed or even falter, according to the people

Yes Bank acquires additional shares in JC Flowers ARC, raises stake to 9.9%

Yes Bank on Saturday said the bank has acquired 2.4 crore additional shares of J C Flowers Asset Reconstruction (JC Flowers ARC), taking its stake to 9.9 per cent. Shares of JC Flowers ARC were transferred from JCF ARC LLC to the bank on October 27, 2023, Yes Bank said in a regulatory filing. "On November 28, 2022, the bank had acquired 9.9 per cent of the equity share capital of JC Flowers ARC. Basis certain corporate actions in JC Flowers ARC, bank's stake had reduced to 5.01 per cent from 9.9 per cent," it said. However, it said, in accordance with share subscription and purchase agreement, the lender has now acquired additional shares in JC Flowers ARC so as to reinstate the bank's stake to 9.9 per cent. The bank acquired 24,643,558 equity shares of JC Flowers ARC at Rs 29.68 per equity share, having face value of Rs 10 at a premium of Rs 19.68 per unit for an amount aggregating to Rs 731,420,804. JC Flowers ARC is a company incorporated on May 6, 2015 under the Companies Act,

Swiss-Asia Holding exits ABFRL, sells entire 1.03% stake for Rs 207 crore

Financial services company Swiss-Asia Holding Pte on Wednesday offloaded its entire 1.03 per cent stake in Aditya Birla Fashion and Retail Ltd (ABFRL) for Rs 207 crore through an open market transaction. Swiss-Asia Pte through its affiliate Griffin Growth Fund VCC sold the shares of ABFRL on the NSE. According to the block deal data available with the National Stock Exchange (NSE), Griffin Growth Fund VCC disposed of 97,33,098 shares, amounting to a 1.03 per cent stake, in ABFRL. The shares were sold at an average price of Rs 212.50 apiece, taking the deal size to Rs 206.82 crore. At the end of the September quarter, Swiss-Asia Holding Pte through its affiliate Griffin Growth Fund VCC owned 1.03 per cent stake in ABFRL, shareholding data pattern showed with the BSE. Meanwhile, these shares were acquired by US-based Cresta Fund Ltd at the same price. Following the stake sale, shares of Aditya Birla Fashion and Retail Ltd fell 1.21 per cent to close at Rs 211.60 per scrip on the NS

GMR Airports, affiliates to buy 11% additional stake in Hyderabad airport

GMR Aiports holds a 63% stake in GMR Hyderabad International Airport (GHIAL). The acquisition will raise its stake to 74%

Reliance nears multibillion-dollar deal to buy Disney's India operations

The US entertainment giant may sell a controlling stake in the Disney Star business, which it values at around $10 billion, as opposed to piecemeal transactions weighed earlier

Torrent lines up at least $5 billion funding to buy 33% stake in Cipla

Torrent has secured commitments from a group of overseas banks for a potential deal, the people said, asking not to be identified as the information is not public

Venture Highway gets 50x returns in secondary sale of stake in Meesho

Venture Highway, an early and long-term backer of Meesho, invested in the company's first seed round over eight years ago

Apple CEO Tim Cook gets $41 million from biggest share sale since 2021

Cook sold 511,000 shares, which were worth about $87.8 million before accounting for taxes, according to the filing dated Tuesday. He made $355 million from a stock sale in August 2021

Apple CEO Tim Cook gets $41 million from biggest share sale since 2021

Cook sold 511,000 shares, which were worth about $87.8 million before accounting for taxes, according to the filing dated Tuesday. He made $355 million from a stock sale in August 2021

TVS Logistics Parks sells 4.5% stake to Dutch firm for Rs 51 crore

TVS Industrial & Logistics Parks (TVS ILP), which recently went public through a Rs 880 crore IPO, on Friday sold 4.5 per cent stake for Rs 51 crore to London-based Lingotto Investment Management, owned by Dutch group Exor. As per the deal, which involves picking up a large minority stake later, the Chennai-based logistics player has an enterprise value of Rs 2,800 crore. The TVS statement said the deal was carried out through secondary sale of 4.5 per cent in TVS Supply Chain Solutions for Rs 51.3 crore and the Dutch firm will soon acquire a significant minority stake in TVS ILP. Exor is a holding company incorporated in the Netherlands and is controlled by the Agnelli family. TVS ILP, a part of TVS Mobility Group, is present in 15 cities with 20 million sq ft of warehousing space. The deal with Lingotto is another milestone in the successful journey of TVS ILP and the parent will continue to hold a significant minority stake at the logistics arm, TVS Supply Chain Solutions ...

TVS Supply Chain Solutions sells Circle Express for Rs 21.32 crore

TVS Supply Chain Solutions Ltd on Friday said its wholly-owned arm RICO Logistics Ltd has sold the entire stake in subsidiary Circle Express Ltd, UK, for 2.1 million pounds (about Rs 21.32 crore). The move is designed to boost the company's profitability and sharpen its focus on core offerings to its customers, TVS Supply Chain Solutions said in a statement. In a regulatory filing, the company said the entire stake in Circle Express Ltd was sold to Winever Industrial Enterprises (UK) Ltd. "The sale of Circle Express is an important step as it found very little synergy with the core operations and represents an important step in our efforts to enhance our financial performance and sharpen our competitive edge," TVS Supply Chain Solutions Managing Director Ravi Viswanathan said. "We are confident that this sale will allow us to allocate resources more effectively and focus on driving sustainable growth and profitability, thereby increasing shareholder value," he said. By shedding th

CVC mulls controlling stake sale in Indian hospital chain HealthCare Global

The private equity firm is looking to identify buyers for its 60.4% in the Mumbai-listed company, said the people, who asked not to be identified as the information is private

Asia Healthcare acquires majority stake in AINU, to invest Rs 600 cr

Asia Healthcare Holdings on Wednesday said it has acquired a majority stake in Asian Institute of Nephrology and Urology and will invest Rs 600 crore in the latter. The investment will be through a mix of primary and secondary infusion, Asia Healthcare Holdings (AHH) said in a statement. Asian Institute of Nephrology and Urology (AINU) is a speciality hospital network of urology and nephrology care present in four cities with a speciality in robotic urology surgery, it added. "This acquisition and AHH's foray into urology and nephrology segment marks its expansion into a fourth speciality...," the company said. AINU operates seven hospitals across Hyderabad, Visakhapatnam, Siliguri and Chennai, with more than 500 beds and over 4 lakh patients treated. It has also completed over 1,000 robotic urology surgeries, as per the statement. AHH Executive Chairman Vishal Bali said, "AINU not only adds a new speciality to the AHH platform but also strengthens our vision of scaling the single

Everstone Capital sells 25.3% stake in Burger King owner for Rs 1,494 crore

A promoter of Restaurant Brands Asia, which owns Burger King brand in India, on Friday divested a 25.3 per cent stake in the firm for Rs 1,494 crore through an open market transaction. Everstone Capital through its investment vehicle Qsr Asia Pte Ltd offloaded the shares of the Restaurant Brands Asia on the NSE and the latter is a part of Singapore-headquartered Everstone Group. Amal N Parikh, Tata Mutual Fund (MF), Quant MF, Plutus Wealth Management LLP, Franklin Singapore 3 Banken Asia Stock-Mix, Avendus Absolute Return Fund, ICICI Prudential Life Insurance, Goldman Sachs, TD Emerging Markets Fund and Societe Generale, among others were the buyers of the shares. According to the block deal data available with the NSE, Qsr Asia Pte sold 12,54,41,820 shares, amounting to a 25.3 per cent stake in Restaurant Brands Asia. The shares were disposed of at an average price of Rs 119.10 apiece, taking the transaction value to Rs 1,494 crore. After the transaction, Qsr Asia Pte's sharehold

Cipla founding family's stake sale in jeopardy over $13 bn valuation target

Negotiations between the family members and prospective buyers, including companies in the industry and private equity firms, are no longer moving forward