Divestment

CapitaLand India Trust will divest CyberVale in Chennai and CyberPearl in Hyderabad for Rs 1,103 crore at a 3% premium to valuation, its first exit since 2007 listing

Chawla said the government will make an initial public offering (IPO) of a state-run firm in the natural resources sector in the current financial year

Today's Opinion page traverses the regulatory landscape, from land reforms to nuclear power, corporate governance to government divestment and comes away with deep insights into all

The practice of fixing annual divestment targets in the budgets was designed to tap an additional revenue source to contain the revenue deficit

Hong Kong-based WFM Asia on Wednesday divested a 2.84 per cent stake in Star Health and Allied Insurance Company for nearly Rs 701 crore through an open market transaction. Hedge fund manager WFM Asia, through its affiliate WF Asian Smaller Companies Fund, offloaded more than 1.66 crore equity shares or 2.84 per cent stake in Star Health and Allied Insurance Company, as per the bulk deal data on the NSE. The shares were disposed of at an average price of Rs 420.03 apiece, taking the deal value to Rs 700.86 crore. At the end of the March quarter, WFM Asia, through its arms WF Asian Reconnaissance Fund and WF Asian Smaller Companies Fund, owned a 3.48 per cent stake in Chennai-based Star Health and Allied Insurance. Meanwhile, SBI Mutual Fund acquired over 1.64 crore shares, representing a 2.8 per cent stake in Star Health for nearly Rs 690 crore. Shares were purchased at an average price of Rs 420 per piece. Details of other buyers of Star Health and Allied Insurance Company's sha

Disinvestment as a policy was launched in the early 1990s to bolster revenue and use the reduced government stake in PSUs to help enhance their autonomy

Expectations that the government would increase the speed of strategic disinvestment or privatisation have been dashed

We broadly concur with the Survey's assessment of a pick-up in rural demand on the back of improved crop output, disinflation, and an uptick in domestic investment activity

"There is no reason why this profit-making entity should be sold to private entities, more so to entities of foreign origin." the forum said.

Nishant Pitti's exit signals the completion of his divestment from the travel-tech company, leaving EaseMyTrip in the hands of institutional investors and other stakeholders

Augusta TBO (Singapore) and TBO Korea Holdings, two public shareholders of TBO Tek, on Tuesday pared a total of 5.9 per cent stake in the company for nearly Rs 935 crore through open market transactions. TBO Tek is a technology platform engaged in the business of providing services related to tours and travel. According to the bulk deal data available on the BSE, Augusta TBO (Singapore) sold 40.74 lakh shares, while TBO Korea Holdings offloaded 23.05 lakh shares, amounting to a 3.75 per cent and 2.12 per cent stake, respectively, in Gurugram-based TBO Tek. The shares were disposed of in the price range of Rs 1,465.14-1,465 apiece, taking the aggregate deal value to Rs 934.73 crore. After the stake sale, Augusta TBO's holding in TBO Tek has come down to 9.72 per cent from 13.47 per cent, while TBO Korea Holdings' stakeholding in the company has declined to 5.5 per cent. ICICI Prudential Mutual Fund (MF), SBI MF and Axis MF acquired a total of 27.90 lakhs shares or 2.6 per cent stak

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. The issue will open for retail investors on Thursday. "Offer for Sale in Hindustan Zinc Limited (HZL) received enthusiastic response from non-retail investors today. Government has decided to exercise the green shoe option," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on X. The government, which holds a 29.54 per cent stake in HZL, is the largest minority shareholder in the Vedanta Group firm. Through the two-day OFS, the government is selling over 5.28 crore shares, or 1.25 per cent stake, with a greenshoe option to retain additional subscriptions of a simi

Private equity firm Lighthouse Advisors on Monday divested a 2 per cent stake in value retail chain V2 Retail for Rs 85 crore via open market transaction, while Motilal Oswal Mutual Fund acquired shares of the company. The Mumbai-based Lighthouse Advisors through its affiliate India 2020 Fund II Ltd sold over 7.34 lakh shares, amounting to a 2.12 per cent stake in V2 Retail, as per the block deal data available on the NSE. The shares were offloaded at an average price of Rs 1,160 apiece, taking the transaction value to Rs 85.23 crore. After the stake sale, Lighthouse Advisors' holding in V2 Retail has come down to 4.24 per cent from 6.36 per cent. These shares were purchased by Motilal Oswal Mutual Fund at the same price, the data showed on the National Stock Exchange (NSE). Shares of V2 Retail jumped 5 per cent to end at Rs 1,223.70 apiece on the NSE. In a separate transaction on the BSE, SBI Mutual Fund purchased 3.72 lakh shares or 2.3 per cent stake in Alicon Castalloy for Rs

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 ...

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

The Reserve Bank of India has indicated completion of its fit and proper vetting of potential bidders of IDBI Bank, said Tuhin Kanta Pandey, the country's secretary responsible for the stake sale

The divestment target has been set at Rs 50,000 crore, similar to previous years

Private equity firm WestBridge Capital on Friday offloaded a 1.2 per cent stake in IndiaMART InterMESH for Rs 190 crore through open market transactions. WestBridge Capital, through its affiliate WestBridge Crossover Fund LLC, sold shares of IndiaMART InterMESH, an online B2B marketplace, through two separate block deals on BSE. As per the data available with BSE, WestBridge Crossover Fund LLC disposed of 7.3 lakh shares or a 1.2 per cent stake in IndiaMART InterMESH in two tranches. The shares were offloaded at an average price of Rs 2,601 apiece, taking the deal size to Rs 189.87 crore. These shares were purchased by SBI Mutual Fund and Morgan Stanley Asia (Singapore) at the same price. Shares of IndiaMART InterMESH gained 1.25 per cent to close at Rs 2,648.80 apiece on the BSE. In another block deal on the BSE, Rajat Agrawal, one of the promoters' of Gravita India, pared a 2 per cent stake in the company for Rs 191 crore. As per the block deal data available, Agrawal sold 14

Asia Opportunities V (Mauritius) and General Atlantic divested a 4.46 per cent stake in housing finance firm PNB Housing Finance for Rs 843 crore through open market transactions. US-based private equity firm General Atlantic through its affiliate General Atlantic Singapore Fund FII Pte Ltd offloaded its stake in PNB Housing Finance on the BSE. As per the bulk deal data available with the BSE, Asia Opportunities V (Mauritius) and private equity firm General Atlantic Singapore Fund FII Pte sold 58 lakh shares each, amounting to a combined 4.46 per cent stake in PNB Housing Finance. The shares were disposed of in a price range of Rs 727.26-727.47 apiece, taking the combined deal size to Rs 843.79 crore. As of March 2024, shareholding data of PNB Housing Finance on the BSE, Asia Opportunities V (Mauritius) Ltd holds a 9.88 per cent stake, and General Atlantic Singapore Fund FII Pte owns a 9.82 per cent stake in the company. Meanwhile, Societe Generale purchased 13.08 lakh shares at a

Carlyle Group on Friday divested nearly a 2 per cent stake in private sector lender Yes Bank for Rs 1,441 crore through an open market transaction. US-based Carlyle Group, through its affiliate CA Basque Investments, offloaded shares in Yes Bank through a bulk deal on the National Stock Exchange (NSE). As per the data, CA Basque Investments sold 59.40 crore shares, amounting to a 1.98 per cent stake in Yes Bank. The shares were disposed of at an average price of Rs 24.27 apiece, taking the transaction value to Rs 1,441.64 crore. After the stake sale, the Carlyle Group's shareholding in Yes Bank has declined to 7.13 per cent from 9.11 per cent. In February this year, global investment firm Carlyle Group pared a 1.3 per cent stake in private sector lender Yes Bank for Rs 1,057 crore. Meanwhile, Goldman Sachs (Singapore) Pte - ODI bought more than 36.92 crore shares, representing a 1.23 per cent stake in the Mumbai-based lender. The shares were acquired at an average price of Rs 24