Page 2 - Share Sales

Adani planning to raise $1.2 bn for flagship firm via share sale: Report

Adani Group is seeking institutional investors including from the US as part of its efforts to expand its shareholder base and draw more research analysts to cover the firm

BLS E-Services to acquire 55% stake in Aadifidelis Solution for Rs 190 cr

Visa services provider BLS International on Tuesday said its subsidiary BLS E-Services Limited (BLSE) has signed an agreement to acquire 55 per cent in Aadifidelis Solutions and its affiliates for an enterprise value of about Rs 190 crore. BLSE has entered into a definitive Share Purchase Agreement (SPA) to acquire the controlling interest in Aadifidelis Solutions (ASPL) and its affiliates, a major player in India in the distribution and processing of loans for corporates and individuals. BLSE will make an upfront investment (primary and secondary) of about Rs 71 crore with balance consideration being deferred linked to the achievement of milestones in 2024-25, BLS said in a release. The acquisition will be an all-cash deal. The transaction will be completed in the second quarter of the fiscal. Shikhar Aggarwal, Joint Managing Director of BLS International Services said that the signing of a definitive agreement with ASPL is a strategic move that will unveil a plethora of ...

Timken India promoter pares 6.6% stake for Rs 1,956 cr through open market

Timken Singapore Pte, promoter of bearings-maker Timken India, on Tuesday offloaded a 6.6 per cent stake in the company for Rs 1,956 crore through open market transactions. Axis Mutual Fund (MF), Nippon India MF, UTI MF, HDFC Life Insurance, Morgan Stanley Asia Singapore, BofA Securities Europe SA, Singapore government and Monetary Authority of Singapore were among the buyers of Timken India's shares. Timken Singapore Pte offloaded a total of 50 lakh shares in 17 tranches through separate block deals on the BSE. As per the data, Timken Singapore sold 50 lakh shares, amounting to a 6.6 per cent stake in Bengaluru-based Timken India. The shares were disposed of at an average price of Rs 3,913.35 apiece, taking the deal value to Rs 1,956.67 crore. After the share sale, shareholding of Timken Singapore Pte has reduced to 51.06 per cent from 57.70 per cent in the company. On Tuesday, shares of Timken India rose 2.78 per cent to close at Rs 4,062.80 apiece on the BSE. In June last year

All procedure followed for share sale, says REL Chairperson Rashmi Saluja

Refuting allegations by Burman family, Religare Enterprises Ltd (REL) Executive Chairperson Rashmi Saluja said the share sale by her was in accordance with procedure and approval of the board. Earlier this month, Burman Family, who are locked in a pitched battle with Religare Enterprises for the acquisition of the financial services firm, made fresh complaints against Saluja about insider trading violations. As per the disclosure on exchanges last month, Saluja sold 6.18 lakh shares on March 26, 6.70 lakh shares on March 27, and 7.21 lakh shares on March 28. Following the transaction, Saluja's holding in REL is reduced to 0.81 per cent from 1.23 per cent. "What I have read in the newspaper it is all unsubstantiated. The proposal was approved by the board and Nomination and Remuneration Committee (NRC). The board and independent members approved the proposal as per the regulation. So there has been no violation of regulation at all," she said. Burmans, who holds around 25 per cent o

Punjab National Bank seeks to close institutional share sale in 6 mths: CEO

Punjab National Bank's board had in December approved a Rs 7,500 crore ($898 million) fund raise through equity capital

RK Swamy IPO: All you need to know about this Rs 423 cr share sale

RK Swamy IPO: The Company's share sale opens today and closes on March 06. Investors can subscribe to the issue in the price band of Rs 270-288 per share.

Institutional investors need to disclose about short sale of shares: Sebi

Markets watchdog Sebi on Friday said that institutional investors have to disclose upfront at the time of placing an order whether a proposed transaction is a short sale or not, a significant move aimed at curbing market volatility. The Securities and Exchange Board of India (Sebi) has made certain changes with respect to norms pertaining to short selling in the market. Short selling refers to selling a stock which the seller does not own at the time of trade. Both retail and institutional investors are permitted to short sell stocks. Amending a circular relating to short selling issued last year, Sebi said, "the institutional investors shall disclose upfront at the time of placement of order whether the transaction is a short sale". However, retail investors would be permitted to make a similar disclosure by the end of the trading hours on the transaction day. "The brokers shall be mandated to collect the details on scrip-wise short sell positions, collate the data and upload it

Zuckerberg sells nearly $500 million of Meta stock in 2 months: Report

Marc Benioff, Zuckerberg's peer in the tech world, also sold shares nearly every day in the second half of 2023

Share-sale frenzy in Indian market seen continuing in 2024, say bankers

Initial public offerings and follow on share sales in India this year exceeded Hong Kong for the first time in at least 30 years, according to data compiled by Bloomberg

India Shelter Finance IPO: Should you invest in this housing finance firm?

Here's what brokerages recommend investors should do, with this Rs 1,200 crore IPO which closes for subscription on Friday, December 15.

Hudco's Rs 1,100 cr offer of share sale 95% covered, stock closed at Rs 80

The share sale received bids for about 133.6 million shares from institutional investors against a total of 140 million on offer

JPMorgan sees India's share sale boom reaching $30 billion in 2024

Sales of additional shares in listed companies in the country have surpassed $10 billion this year, more than the tally for all of 2022, according to data compiled by Bloomberg

Societe Generale buys Bandhan Bank shares for Rs 382 cr at Rs 218.60 apiece

Financial services company Societe Generale on Monday bought shares of private lender Bandhan Bank for Rs 382 crore through open market transactions. According to the bulk deal data available with the BSE and National Stock Exchange (NSE), Societe Generale purchased 85.51 lakh shares on the BSE and 89.23 lakh shares on the NSE. The shares were acquired at an average price of Rs 218.60 apiece on both bourses, taking the combined transaction size to Rs 382 crore. Details of the sellers could not be ascertained. Shares of Bandhan Bank rose 3.22 per cent to close at Rs 224.10 on the NSE and gained 2.88 per cent to settle at Rs 223.30 on BSE. In a separate transaction, Plutus Wealth Management acquired 22.10 lakh shares of Eris Lifesciences for Rs 173 crore through open-market transactions. Plutus Wealth Management bought a total of 22.10 lakh shares in two tranches, as per the data available with the NSE. The shares were purchased in the range of Rs 783-783.03 per piece, taking the

Indian Oil to raise up to $2.7 billion through rights issue of shares

IOC, the country's top refiner, has not specified which projects the newly raised funds would target

Promoter entities raise $1 bn by selling shares in Adani Green Energy, AEL

The proceeds will be used by the promoters to pre-pay debt, banking sources said

Aditya Birla Capital to raise up to Rs 1,750 crore via share sale

The issue price for the placement is between Rs 170 and Rs 176, a 6.2% to 2.9% discount to Monday's closing level of Rs 181.25

IKIO Lighting IPO subscribed 6.83 times on second day of share sale

The Initial Public Offering (IPO) of LED lighting solution provider IKIO Lighting was subscribed 6.83 times on the day two of the share sale on Wednesday. The Rs 606.5-crore IPO received bids for 10,40,31,096 shares against 1,52,24,074 shares on offer, according to NSE data. The portion for non-institutional investors received 15.99 times subscription, the category for Retail Individual Investors (RIIs) was subscribed 5.92 times and Qualified Institutional Buyers (QIBs) part got 1.37 times subscription. The IPO has a fresh issue of up to Rs 350 crore and offer of sale of up to 90 lakh equity shares and comes in a price range of Rs 270-285 a share. On Monday, IKIO Lighting Ltd said it has mobilised Rs 182 crore from anchor investors. Proceeds from the fresh issuance worth Rs 50 crore will be used for debt payment, Rs 212.31 crore in the company's wholly-owned subsidiary IKIO Solutions to set up a new facility at Noida, Uttar Pradesh, and for general corporate purposes. IKIO Lighti

Plutus Wealth acquires MTAR Technologies' shares for Rs 247 crore

Plutus Wealth Management on Monday acquired shares of MTAR Technologies for Rs 247 crore through an open market transaction. MTAR Technologies is a precision engineering solutions company. According to the bulk deal data available with the BSE, Plutus bought 13,15,000 shares of MTAR Technologies. The shares were purchased at an average price of Rs 1,880.02 apiece, taking the transaction value to Rs 247.22 crore. Meanwhile, promoters of MTAR Technologies -- Usha Reddy Chigarapalli, Anitha Reddy Dwaram and Kavitha Reddy Gangapatnam -- offloaded 11.20 lakh shares, amounting to 3.6 per cent stake in the firm. The shares were sold in the range of Rs 1,880-1,880.15 per piece, as per the bulk deal data. On Monday, shares of MTAR Technologies gained 0.19 per cent to close at Rs 1,896.90 each on the BSE.

Adani to raise $3.5 bn from equity share sale in three group companies

Billionaire Gautam Adani's conglomerate is looking to raise about USD 3 billion through an equity share sale to institutional investors in the boldest comeback strategy after the ports-to-energy group was hit by a damning report of a US short seller. While boards of Adani Enterprises Ltd - the group's flagship firm - and electricity transmission company Adani Transmission Ltd have already approved raising up to Rs 21,000 crore (over USD 2.5 billion) through share sales to qualified institutional investors, the board of Adani Green Energy Ltd is likely to do so for raising up to USD 1 billion in the next couple of weeks, sources aware of the matter said. Post-board approvals, Adani Enterprises Ltd and Adani Transmission Ltd have sought shareholder approval. Adani Green Energy Ltd's board may meet in the first or second week of June for approving the fundraising, they said. The entire fundraising of USD 3.5 billion, which would go to fund the capital expenditure needs of the group, i

Promoter of Gravita India sells 4.6% stake for Rs 181 cr through open mkt

A promoter of Gravita India on Monday divested a 4.6 per cent stake through an open market transaction for Rs 181 crore. Rajat Agrawal (promoter) of Gravita India offloaded the shares. According to the block deal data available with the National Stock Exchange (NSE), Rajat Agrawal sold 32 lakh shares, amounting to a 4.6 per cent stake in Gravita India. The shares were disposed of at an average price of Rs 565 apiece, taking the transaction value to Rs 180.80 crore. The shares were picked up by affiliates of financial company Nomura Holdings. On Monday, shares of Gravita India rose 1.45 per cent to close at Rs 578.90 per piece on the NSE. During the day, the scrip hit a 52-week high of Rs 601 apiece.