STAKE SALE
Edelweiss hires Nomura for mutual fund unit stake sale
Edelweiss Financial Services Ltd. has engaged Nomura Holdings Inc. to assist in finding a buyer for a minority stake in its mutual fund business. The company is looking to sell 25% to 35% of the unit, with a potential valuation of $700 million to $800 million for the entire business.
VST Industries shares jump 4% on sale of immovable property for Rs 101 crore
VST Industries, a company partially owned by Radhakishan Damani, saw its shares rise 4% after announcing the sale of its Hyderabad property for ?101.7 crore. The buyer is not affiliated with the promoter or promoter group. Despite the recent surge, the stock has experienced declines over the past six months.
NCLAT okays sale of Infrastructure Leasing & Financial Services stake in IL&FS Paradip Refinery Water Ltd
The National Company Law Appellate Tribunal (NCLAT) has granted Infrastructure Leasing & Financial Services (IL&FS) permission to sell its complete stake in IL&FS Paradip Refinery Water Ltd (IPRWL). This decision comes after Indian Oil Corporation (IOC) delayed a decision on a full acquisition of IPRWL. The approval will enable IL&FS to settle a debt of approximately ?1,000 crore.
Protean eGov Technologies shares crack 10% as NSE Investments plans to offload 20% stake via OFS
Protean eGov Technologies shares are in focus as NSE Investments plans to offload up to 20.31% stake via an offer for sale (OFS) with a floor price of Rs 1,550 per share.
Govt plans minority stake sale in 4 PSU banks: Report
The Indian government is considering selling minority stakes in four state-run banks, including Central Bank of India and Punjab and Sind Bank, to meet public shareholding norms. The government may sell the stakes through an offer for sale in the open market, with the timing and size of the sale dependent on market conditions.
Blackstone eyes 20% stake in Haldiram's snacks at $8 billion valuation, sources say
Blackstone has scaled back its ambitions in its pursuit of India's popular snack maker Haldiram's. Initially aiming for a majority stake, the investment firm is now in talks for a 20% share, valuing the business at $8 billion. However, Haldiram's seeks a higher valuation of $12 billion, creating a sticking point in negotiations.
- Go To Page 1
Tata Communications divests 100% stake in ATM biz for Rs 330 cr
Tata Communications will sell its entire stake in its subsidiary to Australia's Findi. The deal is worth Rs 330 crore. It could go up by Rs 75 crore more. The deal needs approval from the Reserve Bank of India. TSI will get over 4,600 ATMs from the deal. It will add to TSI's existing 7,500 ATMs.
Prosus gains $2 billion on Swiggy investment with IPO valuation
Prosus NV, Tencent's top investor, has made over $2 billion from its investment in Swiggy, highlighting the value of its portfolio beyond Tencent. Prosus and Naspers Ltd. invested $1.3 billion for a 31% stake in Swiggy, which is aiming for an IPO valuation of up to $11.3 billion in India.
Vodafone UK reports 28% rise in H1 FY25 operating profit, driven by Indus Towers stake sale
Vodafone Group¡¯s operating profit for H1 FY25 rose 28%, largely due to a €0.7 billion gain from selling an 18% stake in Indus Towers. The proceeds were used to repay loans secured against Indian assets, including Vodafone Idea.
LIC pares 2.02% stake in Tata Power for Rs 2,888 crore
Life Insurance Corporation (LIC) on Tuesday said it has sold more than 2.02 per cent stake in Tata Power Company for about Rs 2,888 crore and reduced its holding in the company to 3.88 per cent.
Welspun Corp arm sells 5% stake in associate entity for about Rs 480 crore
"Our wholly-owned subsidiary WMHL has divested a 5 per cent equity stake in EPIC in favour of identified financial investors in a series of negotiated trades on the Tadawul Stock Exchange, KSA on November 11, 2024, for an overall consideration of (Saudi Riyal) SAR 218.9 million (approximately USD 58 million)," Welspun Corp said in an exchange filing.
Vedanta Q2 Results: Company is back in black with Rs 5,603 crore net profit, aims to cut more debt
Vedanta aims to reduce its debt-to-operating profit ratio to below 1 in two years. The company reported a net profit of ?5,603 crore in Q2FY25, with a 44% YoY increase in operating profit. Net debt fell to ?56,927 crore, and the company is optimistic about a stronger second half of the year.
Govt gets Rs 3,449 cr from Hindustan Zinc OFS
The Indian government successfully raised Rs 3,449 crore by selling a 1.6% stake in Hindustan Zinc Ltd (HZL) through a two-day offer-for-sale. The sale, which saw strong demand from institutional investors, is part of the government's disinvestment drive and brings the total raised this fiscal year to Rs 8,625 crore.
HZL OFS attracts bids worth Rs 3,400 cr from institutional investors, govt to exercise greenshoe option
The government's offer-for-sale for more than 4.75 crore Hindustan Zinc Ltd (HZL) shares to institutional investors over-subscribed on Wednesday, with institutional buyers putting bids worth close to Rs 3,400 crore. On the first day of the two-day OFS, bids came in for over 6.69 crore shares, which is 1.41 times the total of 4.75 crore shares on offer for institutional buyers.
Everstone puts off plan to sell stake in Restaurant Brands Asia
Everstone Capital has halted the sale of its stake in Restaurant Brands Asia. The private equity firm was unable to find buyers at its desired valuation. Restaurant Brands Asia, which operates Burger King in India, has experienced declining sales. The QSR sector in India is facing challenges, leading to a slowdown in growth.
Pakistan's effort to privatise national airline gets sole bidder offering lower than govt-set minimum price
Pakistan's attempt to privatise Pakistan International Airlines drew minimal interest. Only Blue World City made a bid of Rs 10 billion for a 60 per cent stake, much lower than the Rs 85 billion minimum set by the government. This move is part of a deal with the IMF to support Pakistan's economy.
Centrum to sell stakes in housing finance arm by March
The Centrum Group aims to finalize the sale of its housing finance subsidiary by the end of this fiscal year. They are engaging with multiple investors for either a full or partial sale, seeking a valuation of around Rs 1,300 crore. The decision will depend upon the valuation and counterparty negotiations.
Luxury brand Da Milano is up for sale, eyes ?1,500-crore valuation
Promoters of Da Milano Italia are seeking to sell a substantial stake in the company, valued at ?1,500 crore, with consulting firm PwC India handling the sale mandate. The decision depends on negotiated valuation, and both strategic investors and private equity players have shown interest.
Torrent Pharma shares fall 3% after 2.9% stake sale via block deal
Torrent Pharma Share Price: Torrent Pharmaceuticals reported a consolidated profit after tax (PAT) of Rs 453 crore in the September quarter, which rose by 17% led by robust sales in the domestic market. The drug firm had reported a PAT of Rs 386 crore in the July-September period of the last fiscal.
BAT to check out of ITC's demerged hotels business
British American Tobacco (BAT) intends to divest its stake in ITC's soon-to-be demerged hotel business and explore options for unlocking shares in ITC to achieve financial flexibility. BAT also plans to introduce its oral tobacco products in India while continuing its share buy-back program.
Buffett's Berkshire continues to reduce Bank of America stake
Berkshire Hathaway, led by Warren Buffett, has continued to sell Bank of America shares. Nearly 8.7 million shares were sold for $370 million as of Oct. 15. Previously, 9.5 million shares were sold for $382.4 million, reducing Berkshire's stake in Bank of America to below 10%. The selling began in mid-July.
Stock to Watch: Cochin Shipyard shares in focus as OFS opens today for retail investors
Government decides to use the greenshoe option in Cochin Shipyard OFS after receiving Rs 1,984 crore in bids from institutional investors. Retail buyers can bid on Thursday. Cochin Shipyard shares fell 5% to Rs 1,588.35. The government's planned stake sale is set at Rs 1,540 per share, potentially fetching over Rs 1,980 crore.
Cochin Shipyard shares fall 5% as government to sell stake in two-day OFS from today
Cochin Shipyard Share Price: The government is set to sell up to 5% stake in Cochin Shipyard through an offer for sale. The floor price for the shares is Rs 1,540 each, representing an 8% discount from the previous closing price. The sale opens today for non-retail investors and on Thursday for retail investors.
TPG, Blackstone bid for Bausch + Lomb in potential $14 billion deal
TPG and Blackstone are teaming up to bid for Bausch + Lomb, with an expected valuation between $13 billion and $14 billion. This sale, managed by Goldman Sachs, aims to address disputes related to Bausch Health¡¯s large debt. Bausch + Lomb is expected to generate significant revenue from its contact lenses and eye care drugs.
Buffett's Berkshire cuts stake in BofA to below 10%
Billionaire Warren Buffett's Berkshire Hathaway sold 9.5 million Bank of America shares this week, lowering its stake to below 10%. Berkshire has been reducing its holdings since mid-July, having initially invested $5 billion in 2011. Investors will await quarterly reports for further updates.
HDFC Bank divests 100% stake in HDFC Edu for Rs 192 crore
India's largest private sector lender HDFC Bank on Monday said that its board has approved 100% stake sale of subsidiary HDFC Education to Vama Sundari Investments in an all-cash deal amounting to Rs 192 crore. The sale price is Rs. 9.60 per share.
Adani Enterprises set to raise up to $2 billion through a QIP next week
Meanwhile, the Adani Group along with Wilmar will also launch the sale of around a 13% stake in Adani Wilmar by the end of this month or early in November, to cut down the promoter stake in the company to comply with listing regulations, sources said.
Vedanta board to consider fourth interim dividend
Vedanta Ltd will consider its fourth interim dividend for the current fiscal on October 8. The record date for the payout, if declared, is October 16. Earlier this month, Vedanta announced a ?20 per share dividend. The company has already declared dividends totaling ?35 per share this year.
MNCs continue to encash lofty valuations at Indian-listed arms
Indian subsidiaries outperform foreign parents in revenue growth, profit margins, and market cap even as MNCs face a struggle to expand in low-growth developed markets
Load More
