Stake Sale

Fairfax has moved ahead in the race to buy a majority stake in IDBI Bank, with Kotak Mahindra Bank still in the fray as the government and LIC prepare to finalise bids for the lender's sale

The fund house is a joint venture between ICICI Bank, India's second-largest private lender, which holds 51 per cent, and Prudential, which owns the rest

The country's second largest private sector lender ICICI Bank is aiming to maintain over 51 per cent stake in all three of its listed entities, a senior official said on Monday. Its Executive Director Sandeep Batra said the bank is also committed to maintaining over 51 per cent stake in the IPO-bound ICICI Prudential Asset Management Company, and hence, it is upping stake by 2 percentage points before the entity hits the markets. "We are committed to ensuring all our three listed entities remain our subsidiaries. So, our stake will remain at over 51 per cent," Batra told reporters at a press conference here. The mutual fund arm's Managing Director and Chief Executive Nimesh Shah said that ICICI Bank will pick up the additional 2 per cent stake for the same price as the one which will be paid by other investors as part of its initial public offering. Shah added that at present, the ICICI Bank ownership in the company is 51 per cent, which will go up to 53 per cent post the IPO, ...

The ITC Hotels stock on Friday closed at ₹206 a share on the BSE, down by 0.84%

Sale to be third instance of sale by promoter entity ICIL within 2025

The French company had acquired a 19.75 per cent stake in AGEL in January 2021 for around $2.5 billion as part of its strategy to strengthen its renewable energy footprint in India

Trend strengthens for second straight quarter

The transaction will entail a primary investment of Rs 205 crore and a secondary share purchase of Rs 35 crore

The stake sale could help scale Bhushan Power & Steel's capacity to 10 million tonnes and strengthen JSW's partnership with Japan's JFE while keeping debt in check

The automaker's full exit from RBL Bank via a Rs 682 crore block deal brings a 64 per cent return on its year-old investment

State Bank of India reported a strong second-quarter performance, driven by gains from the Yes Bank stake sale, and raised its FY26 credit growth guidance to 12-14% amid steady asset quality

The central bank has refused approval for Dia Vikas Capital's proposed 5% stake purchase, prompting ESAF SFB's board to review its promoter scheme and next steps

Founded by Jeff Schwartz, Excel Sports Management is a sports talent agency representing Tiger Woods, Derek Jeter, and Caitlin Clark that is reportedly valued at nearly $1 billion

The Virani brothers - Chandubhai, Bhikhubhai, and Kanubhai - who founded and control the company, are considering a partial stake sale to fund expansion across India

The deal is the latest in a series of cross-border deals in India this year as India seeks to attract foreign investment and strengthen the country's midsize banks

In August, SMBC received Reserve Bank of India's approval to buy up to 24.99 per cent stake in Yes bank from State bank of India and seven other shareholders after having inked a deal in May

The latest disclosure, dated Sep 30, shows she holds 81.1 million shares, down 58 million from a year earlier

Under the terms of the deal, Brookfield Asset Management and its parent Brookfield will fund roughly $1.6 billion and $1.4 billion of the purchase price, respectively

Travel platform ixigo on Friday said it will raise Rs 1,296 crore from global technology investor and operator Prosus through a preferential issue of equity shares. In a regulatory filing, ixigo (Le Travenues Technology Ltd) said it is offloading a 10.1 per cent stake to Prosus (MIH Investments One B V) for Rs 1,295.56 crore (USD 146 million). The board of directors of ixigo have approved the issuance of 4,62,70,092 equity shares for Rs 1,295.56 crore, representing 10.10 per cent of the post-issue paid-up equity share capital by way of preferential issue on private placement basis to MIH Investments One B.V, the filing said. Prosus will invest Rs 1,295.56 crore (USD 146 million) for a 10.1 per cent stake in ixigo on a fully-diluted basis, corresponding to a share price of Rs 280 per share, a slight premium over the 10-day VWAP (Volume Weighted Average Price) of ixigo as on the relevant date for the transaction, the filing said. ixigo intends to utilise the proceeds for organic and

SBI Life Insurance, Aditya Birla MF, Morgan Stanley, Goldman Sachs, and other entities have cumulatively acquired over 7.31 crore shares, representing a 6 per cent stake, in Aditya Birla Lifestyle Brands from Flipkart Investments for Rs 998 crore through open market transactions on Monday. Singapore-headquartered Amansa Capital, Nippon India Mutual Fund (MF), ICICI Prudential MF, UTI MF, ICICI Prudential Life Insurance, Ghisallo Capital Management, Societe Generale, and US-based Pathstone are among the entities that have bought stakes in Aditya Birla Lifestyle Brands Ltd (ABLBL), as per block deal data on the NSE. These entities have collectively purchased over 7.31 crore equity shares or 6 per cent stake in separate deals. Meanwhile, Aditya Birla Sun Life MF acquired 36.62 lakh shares or 0.3 per cent holding in ABLBL while SBI Life Insurance hiked its stake by picking up 1.73 crore shares representing nearly 1.42 per cent stake, as per the data. After the stake buy, SBI Life's ...