Page 2 - Shareholding

LIC gets one-time exemption from 25% minimum public shareholding rule

State-owned insurer has received an extension of 10 years and would need to meet the criteria by May 2032

Renault, Nissan get CCI nod for rebalancing of existing cross-shareholdings

The Competition Commission of India (CCI) on Thursday said it has approved the deal involving the re-balancing of the existing cross-shareholdings between Renault and Nissan. Renault and Nissan are engaged in the sale of passenger vehicles and automotive parts through their wholly-owned subsidiaries Renault India Pvt Ltd (RIPL) and Nissan Motor India Pvt Ltd (NMIPL). The combination relates to the re-balancing of the existing cross-shareholdings between Renault SA and Nissan Motor Co Ltd and certain changes to the shareholding of two of their joint ventures in India, Renault Nissan Automotive India Pvt Ltd and Renault Nissan Technology & Business Centre India Pvt Ltd, according to an official release. As part of the rebalancing effort, Nissan, through Nissan Finance Co Ltd, will retain its 15 per cent stake in Renault. Meanwhile, Renault will transfer 28.4 per cent of Nissan shares into a trust estate administered by a trustee governed by French law. Renault will continue to ...

Adani group promoters looking to trim more stake to build cash reserves

The Adani family owns over 60 per cent stake in the group's listed companies, except Adani Green Energy and ACC Ltd

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

LIC's shareholding in Bata India increases from 4.497% to 6.532%

The company raises stake in Tata Power from 5.917% to 7.935%

Adani Transmission seeks shareholders' nod to raise up to Rs 8,500 cr

Adani Transmission has sought shareholders' approval to raise up to Rs 8,500 crore through issuance of equity shares on qualified institutional placement basis. The company has sought shareholders' approval through postal ballot to raise up to Rs 8,500 crore by way of qualified institutional placement through issuance of equity shares and/or other eligible securities to eligible investors, a BSE statement showed. The board of directors of the company at its meeting held on May 13, 2023 approved the proposal of raising funds by way of issuance of equity shares of face value Rs 10 and/or other securities convertible into equity shares (including warrants, or otherwise). The company explained that it anticipates growth opportunities in its existing operations and continues to evaluate various avenues for organic expansion and achieving inorganic growth. Towards this, the company continues to require capital for achieving such growth and expansion. The proposed resolution, if approved

Paytm posts updated shareholding for Q4 FY23, FPI almost doubles

Domestic institutional shareholding has grown from 1.9 per cent to 3.2 per cent with mutual funds (MFs) and alternate investment funds (AIFs) increasing their stake

Bessemer India Capital sells 7.75% stake in Home First Finance for Rs 467cr

Bessemer India Capital Holdings II on Thursday divested 7.75 per cent stake in Home First Finance Company India for over Rs 467 crore through an open market transaction. Fidelity Funds - Asian Smaller Companies Pool and Nomura Trust and Banking Co. Ltd bought a total of 11.93 lakh equity shares of the company. Bessemer India Capital Holdings II is an affiliate of US-based venture capital company Bessemer Venture Partners. According to the bulk deal data available with the National Stock Exchange (NSE), Bessemer India Capital Holdings II sold a total of 68,11,313 shares, amounting to 7.75 per cent stake in the company. The shares were disposed at an average price of Rs 686.07 apiece, taking the transaction value at Rs 467.30 crore. As of December quarter, Bessemer had owned 7.75 per cent stake in the company, shareholding data with the bourse showed. Shares of Home First Finance Company India plunged 7.97 per cent to close at Rs 678.90 per piece on the NSE. In another transaction

Decoded: What exactly is a public float and why is it so important?

Shares held by non-promoters are called public float or public shareholding

When shareholders don't buy the numbers

Last month, the resolution to approve the accounts of a direct-to-home service provider was defeated for third time. Regulations need to provide direction regarding the way forward in such instances

IDBI Bank up 5% on Sebi nod to reclassify govt post sale-stake as 'public'

At present, the government and state-owned Life Insurance Corporation hold a little over 94 per cent in IDBI Bank and are classified as co-promoters.

State-run firms to remain exempt from public shareholding norms: Govt

The exemptions from the MPS norm will be valid for a "specified period" even if there is a change in ownership or control after the exemption is granted, the notification said

Shareholding gaffe at Glenmark Life: Focus shifts to Sebi new rules

Company promoters bought shares even when they held more than 75 per cent

No restrictions on RRPR Holding for warrant conversion, says I-T dept

In a disclosure to the stock exchanges, VCPL said it had approached the IT department for clarity on the matter and received a reply from the Additional Commissioner of Income Tax

Govt asks Sebi to ease public shareholding norms for IDBI Bank: Report

The Centre has reached out to Sebi seeking a relaxation period of two years in the minimum public shareholding norms for IDBI Bank after its privatisation

LIC cuts stake in M&M to 6.42% from 8.43%, garners Rs 2,222 crore

Life Insurance Corporation (LIC) on Wednesday said it has sold 2 per cent of its shareholding in automaker Mahindra & Mahindra for about Rs 2,222.49 crore. The shares were sold through open market transactions during the period from December 21, 2020, to August 8, 2022, according to a regulatory filing. After the sale, the LIC holding in the passenger cars and utility vehicles company decreased from 8.430 per cent to 6.421 per cent, it said. The average cost of 2,49,73,233 shares sold, it said, was Rs 889.95 crore. Under Sebi norms, listed companies are required to intimate the stock exchanges when their shareholding in an entity changes by 2 per cent or more. On the BSE, shares of LIC rose 0.39 per cent to close at Rs 682.65 apiece while that of Mahindra and Mahindra fell 0.46 per cent to Rs 1,269 apiece.

Sebi comes out with new format for disclosure of shareholding patterns

With an aim to provide further clarity and transparency in the disclosure of shareholding pattern to investors, Sebi on Thursday came out with a new format for disclosing shareholding patterns

BoI to raise capital up to Rs 2,500 cr to comply with shareholding norm

Bank of India said the capital is to be raised during the period of one year from the date of passing of the resolution in one or more tranches.

How changes in FPI shareholding swayed stock prices in March quarter

594 companies in which FPIs hiked their stake saw an average stock price increase of 2.3%, while 689 firms in which they decreased their stake saw an average price decline of 2.7%

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