Stake Sale

Bajaj Group get CCI's nod to acquire Allianz's 26% stake in insurance JVs

Fair trade regulator CCI on Tuesday cleared Bajaj Group's proposed acquisition of a 26 per cent stake each in its insurance joint ventures, Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance, from its partner Allianz SE for a total of Rs 24,180 crore. "The proposed combination involves acquisition of 26 per cent paid-up equity share capital of Bajaj Allianz Life Insurance Company Ltd (BALIC) and Bajaj Allianz General Insurance Company Ltd (BAGIC) by Bajaj Finserv Ltd (BFS), Bajaj Holdings & Investment Ltd (BHIL) and Jamnalal Sons Pvt Ltd (JSPL) from Allianz SE," the regulator said in a release. BFS is engaged in the provision of financial services, including consumer and SME finance, housing finance, general insurance, and JSPL is a private limited company incorporated under the provisions of the Companies Act, 1913. BHIL is a RBI-registered as a non-banking financial company - investment and credit company and BALIC and BAGIC are joint ventures between Bajaj Finserv

Edelweiss Employees Trust divests 1.7% stake in Edelweiss Fin for ₹145 cr

Edelweiss Employees Trust sold 16 mn shares worth ₹145 cr; Carnelian, Miri Capital, and others picked up stakes as Edelweiss shares rose 3.15% on the BSE

Slew of PSU stake sales soon; govt plans to divest 6.5% in LIC in tranches

"This year, we will follow a strategy of regular offers for sale (OFS) in small tranches. We are officially giving forward guidance for small investors to look out for it," says Dipam Secretary

Singapore's Singtel sells 1.2% stake in Bharti Airtel for $1.54 billion

Singtel reduces its Bharti Airtel stake from 29.5% to 28.3% after selling 71 million shares for $1.54 billion through its wholly owned unit Pastel

General Atlantic cuts 10% stake in KFin Technologies for ₹1,790 crore

The shares were offloaded in the price range of Rs 1,040.31-1,041.56 apiece on the National Stock Exchange (NSE), taking the combined transaction value to Rs 1,790.41 crore

PNB to sell entire stake in Isarc for ₹34 crore to streamline portfolio

Punjab National Bank has agreed to sell its entire stake in India SME Asset Reconstruction Company for ₹34 crore, aligning with its plan to exit non-core investments and focus on core banking

Yes Bank shares rises over 2% on SMBC's Rs 13,482-cr stake acquisition

Yes Bank rose 2.35 per cent after SMBC's ₹13,482-crore stake deal but underperformed the Nifty Bank and Nifty 50 indices, which posted stronger gains

DCM Shriram's arm Fenesta buys 53% stake in DNV Global for Rs 44 crore

DCM Shriram group firm Fenesta, which is into uPVC and aluminium windows and doors, has acquired 53 per cent equity stake in DNV Global for Rs 44 crore to expand its business. The deal is expected to be completed in next 2 months. The acquisition of DNV Global will help Fenesta in backward integration and opportunity to create new line of business (hardware). "This strategic investment marks a significant step in Fenesta's vision to enhance customer experience, deepen vertical integration, enhance product reliability, achieve accelerated growth in scale and unlock operational synergies across its supply chain," DCM Shriram said in a statement on Sunday. The total acquisition cost is Rs 44 crore, which includes Rs 31 crore by subscribing to fresh equity share capital of DNV Global and Rs 13 crore by purchase of equity shares from the existing promoters/shareholders. Saket Jain, Business Head, Fenesta Building Systems, said, "The acquisition ...is a natural extension of our long-ter

SBI, private banks sell 20% Yes Bank stake to SMBC for ₹13,482 cr

In India's largest cross-border banking deal, SBI and private lenders sell 20% stake in Yes Bank to SMBC for ₹13,482 crore, valuing the bank at $7.9 billion

SMBC nears YES Bank stake deal; India may see biggest private bank M&A

Yes Bank stake deal: Japanese lender SMBC may acquire 51% in YES Bank as RBI signals comfort, potentially triggering the largest private sector bank acquisition in India

Axis Bank plans to raise Rs 20,000 cr through stake sale, debt issuance

The Mumbai-based bank plans to raise 350 billion rupees ($4.1 billion) through local rupee bonds or foreign currency bonds, Additional Tier-1 bonds, infrastructure bonds and other debt, the bank said

Alpha Wave Global, IHC seek CCI nod to acquire minority stakes in Haldiram

Alpha Wave Global, and IHC (International Holding Company) have sought the Competition Commission of India's approval to acquire minority stakes in Haldiram Snacks Food. Alpha Wave is a global investment company and United Arab Emirates-based IHC is one of the world's largest investment companies having a USD 250 billion market valuation and listed on Abu Dhabi Securities Exchange. "The proposed transaction entails the acquisition of less than 10 per cent of the issued and paid-up equity share capital of the target (Haldiram Snacks Food Pvt Ltd)," said a notice filed with the Competition Commission of India (CCI). The proposed combination, classified as an acquisition of shares and voting rights, falls under specific clauses of the Competition Act, it added. Haldiram Snacks Food is the combined business of the Haldiram family -- Delhi and Nagpur. In its submission to the CCI, Alpha Wave Ventures II LP and Alpha Wave IHC CI, LP (acquirers) said that the exact delineation of the ...

Muthoot Fincorp picks nearly 1% stake in BankBazaar for Rs 15 crore

BankBazaar is also making an entry into the secured gold loan market in partnership with the gold loan focused NBFC

Nabard, HSBC invest around Rs 80 crore for 10% equity stake in OPL

OPL, a digital credit infrastructure company, has received funding of about Rs 80 crore from Nabard and HSBC, officials said on Monday. The funding will be used to drive innovation in digital ecosystems, according to a statement. The statement didn't specify the funding amount, but officials pegged it at around Rs 80 crore for a 10 per cent stake. Nabard's chairman K Shaji said the apex institution for rural development is committed to leveraging technology to enhance financial inclusion and promote sustainable growth in rural India. "This partnership represents a significant step towards achieving our strategic goals," he added. HSBC's group head for ventures Moran Levinovitz said the investment in OPL is a step forward in its mission to enhance digital lending capabilities in India. A senior representative from OPL said Nabard's expertise in rural digitisation and HSBC's global financial acumen will help accelerate innovation, enhance credit accessibility, and transform the len

Bain Capital to invest Rs 4,835 crore in Manappuram Finance for 18% stake

The acquisition will be through a preferential allotment of equity and warrants at ₹236 per share, a 30 per cent premium over the six-month average trading price

Blackstone to acquire 40% stake in Kolte-Patil Developers for Rs 1,166 cr

Kolte-Patil builds residential, commercial projects and has a presence in Pune, Bengaluru and Mumbai

Aster DM promoters reduce share pledge to 41% for debt refinancing

"This milestone also reinforces trust among our stakeholders, investors, and partners as we continue to expand our footprint in India," added Moopen

Temasek acquires 10% stake in Haldiram's snacks business for $1 billion

The sale is one of the largest recent transactions in India's FMCG sector and could pave the way for more foreign investment in the industry

Axis Bank eyes up to Rs 4,000 crore from stake sale in Axis Finance

Sale proceeds for capital infusion in arm; sale likely in 3-6 months

Godrej Agrovet to acquire 48% stake in Creamline Dairy for Rs 930 cr

Creamline Dairy Products will become a wholly owned subsidiary of Godrej Agrovet upon completion of the deal