Piramal Enterprises is trading higher by 5% at Rs 582 after the Foreign Investment Promotion Board (FIPB) approved Vodafone's proposal to buy out minority shareholders.
The Ajay Piramal led-Piramal Enterprises hold 10.97% stake in the country’s second-largest telecom company by subscribers.
As a part of a proposal Vodafone Group Plc will pay Rs 8,900 crore to Piramal Enterprises for its stake, the PTI report suggests.
Piramal Enterprises had invested Rs 5,900 crore to take 10.97% in Vodafone India in two tranches.
The stock opened at Rs 580 and touched high of Rs 605 on the BSE. A combined around 225,000 shares have changed hands on the counter so far on the BSE and NSE.
The Ajay Piramal led-Piramal Enterprises hold 10.97% stake in the country’s second-largest telecom company by subscribers.
As a part of a proposal Vodafone Group Plc will pay Rs 8,900 crore to Piramal Enterprises for its stake, the PTI report suggests.
Piramal Enterprises had invested Rs 5,900 crore to take 10.97% in Vodafone India in two tranches.
The stock opened at Rs 580 and touched high of Rs 605 on the BSE. A combined around 225,000 shares have changed hands on the counter so far on the BSE and NSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%