Page 2 - Promoter Stake

Patanjali promoters to dilute 6% share to meet minimum shareholding norms

Patanjali Foods on Wednesday said its promoters plan to sell shares to institutional investors in June for dilution of a 6 per cent stake to meet minimum public shareholding norms of 25 per cent. Patanjali Foods Ltd (PFL), erstwhile Ruchi Soya Industries, was acquired in September 2019 by Baba Ramdev-led Patanjali Group through a corporate insolvency resolution process. In an interview with PTI, Ramdev said: "We are planning to meet the minimum shareholding norms as prescribed by the market regulator SEBI." He further said that the company is targeting to dilute around 6 per cent stake in June through Qualified Institutions Placement (QIP) and Offer for Sale (OFS). "We have already started roadshow from Wednesday and there is a great interest from global investors," Ramdev said. At present the public shareholding in PFL stands at 19.18 per cent, which needs to be increased to a minimum of 25 per cent. Rule 19A(5) of the Securities Contracts (Regulation) Rules, 1957 mandates a lis

Mansun Consultancy, P R Sundar settle case with market regulator Sebi

Mansun Consultancy and its promoters have settled with capital markets regulator Sebi a case on alleged violation of investment advisers norms. Mansun and its promoters/directors -- P R Sundar and Mangayarkarasi Sundar -- paid Rs 15.60 lakh each towards the settlement charges, as per a Sebi order on Thursday. Besides, the terms of the settlement also included the disgorgement of the fees collected by Mansun, along with the 12 per cent per annum interest -- from June 2020 till February 2023 -- of Rs 6.07 crore. In the revised settlement terms, the applicants proposed that Mansun, PR Sundar and Mangayarkarasi "shall refrain from buying, selling or otherwise dealing in securities in India for a period of one year from the date of passing of the settlement order". "The Applicants shall refrain from buying, selling or otherwise dealing in securities markets for a period of one year from the date of passing of the settlement order," Sebi's Chief General Manager Anitha Anoop, said in the

IndusInd Bank promoters get in-principal approval to raise stake: CEO

The promoters have filled out a form to increase the stake and the due diligence process takes about 90-180 days as per RBI norms, said CEO Sumant Kathpalia

Adani Ent zooms 7% as Group CFO refutes report of incomplete debt repayment

The Group refuted The Ken news report, stating it as "baseless and deliberately mischievous".

Explained: How sensitive is the issue of pledge of shares by promoters?

Extant Sebi rules require disclosure of pledge of promoters' equity, but there's nothing that requires disclosure of the effective leverage

Worried about promoters cutting stake? Here's tech view on Dabur, TVS Motor

Prominent promoters have recently offloaded stake in companies like TVS Motor, GMM Pfaudler via block deals, few others plan to do so in the near future.

Amisha Vora increases stake four fold to 96% in Prabhudas Lilladher

Acquired stakes of partners Arun Sheth, Dhiren Sheth and Dilip Bhatt. Vora will now serve as chairperson and MD of PL Group

Ex-promoters can't hold stake in insolvent firms acquired by others: SC

Court agrees with tribunal orders in Bhushan Steel's acquisition by Tata group firm

True North acquires minority stake via own fund in Accion Group for $93 mn

Accion Labs is focused on digital transformation in global enterprises and tech firms. It has more than 4,800 employees globally, spread over 20 locations

Abrdn to offload 2% in HDFC Life in block trades, put 43 mn shares on block

Price range set at Rs 564.1-578.55 per share; sale could fetch UK-based financial major at least Rs 2,425.6 cr

Bata India dives after 2.8% promoter stake sale; stock down 8% in a week

On June 1, 2022, BATA (BN) B V, the promoter of Bata India, divested 3.6 million shares or 2.8 per cent stake of the footwear company for nearly Rs 613 crore through open market transactions.

Policybazaar tanks 10% as CEO Yashish Dahiya plans 3.77 mn share sale

Yashish Dahiya intends to offload partial stake via bulks deals on the exchanges. He currently holds 24.52 million shares in the company.

Promoters' loans, rising earnings help Adani cos to slash interest costs

Group plans to list infra SPVs to slash debt

Fino Payments Bank promoters vote against reappointing chairman, others

The resolution to reappoint Mahendra Kumar Chouhan and Punita Sinha was voted down by 80% of shareholders of Fino Payments Bank, which included 100% of the promoter group

Promoter pledging increases in Dec quarter amid a spike in volatility

The value of promoter pledged holdings stood at Rs 1.97 trillion, 0.81 per cent of the total market capitalisation of the BSE 500 index

Promoter stake in ADA group firms falls as lenders invoke pledged shares

Retail, lenders stuck with dud shares; promoter stake in Reliance Infra fell to 5% this September end from 48.4% in March 2018. Reliance Infra's stake in Reliance Power fell to 25% from 75%

Promoters looking to up stake in Vedanta Ltd by upto 4.57%

The promoter group companies have a purchase offer size of up to 4.57 percent of total shares outstanding as of Sep-30, 2021

Globus Spirits at new high as promoter, institutional investors buy stake

On Wednesday, August 12, promoter Ram Bagh Facility Services LLP bought an additional 162,000 shares, while Long Term Equity Fund purchased 175,000 shares of the company

Promoter share pledging declines for second straight quarter in Q1FY22

The value of promoter pledged holdings stood at Rs 1.7 trillion, 0.81% of total market cap of BSE 500 index

Wabco India hits 20% upper circuit on strong response to OFS

The promoter group intends to reduce its stake in WIL from 93.1 per cent to 75 per cent post the OFS