Stake Sale

Saudi Aramco Q3 net profit rises 35% on higher oil prices, stake sale

Majority state-owned oil company Saudi Aramco on Tuesday reported a 35 per cent increase in third-quarter net profit as earnings were boosted by higher oil prices and the sale of its stake in a Malaysian refining and petrochemical company. Net profit rose to USD 36.3 billion from USD 26.9 billion in the year-earlier quarter. Adjusted net profit, which leaves out the sale of a stake in PRefChem to Malaysian state oil company Petronas, rose 9 per cent to USD 31.2 billion. The company also benefitted from high profit margins at its refineries turning crude into useable products such as diesel fuel. Saudi Aramco sold its oil for an average of USD 95.20 a barrel during the quarter, compared to USD 70.10 in the year-before quarter, the company said in a news release. Oil prices surged after the outbreak of the Iran war due to disruption of supply and uncertainty about the course of the conflict. After the war began in February, Saudi Aramco was able to use its East-West pipeline to the R

Upsurge India leads ₹50 cr iD Fresh Food deal as Blue Ashva Capital exits

The secondary transaction involved the transfer of about 1 per cent equity in iD Fresh Food, whose revenue crossed ₹870 crore in FY26, as early investor Blue Ashva Capital exited

Govt defends IDBI Bank valuation, says process added ₹3,917 cr to deal value

The Finance Ministry said the Core Group of Secretaries on Disinvestment had the authority to decide the bidding process, which helped increase the IDBI Bank stake sale value by ₹3,917 crore

Rahul Gandhi backs IDBI Bank staff, questions Fairfax privatisation

In a letter to IDBI Bank employees, Rahul Gandhi questioned the government's decision to sell a majority stake to Fairfax, citing concerns over reservations, service conditions and public ownership

IDBI stake sale to push disinvestment receipts past BE for second year

The 30.48 per cent divestment in IDBI Bank is expected to take the government's receipts from stake sales and asset monetisation past the BE of ₹80,000 cr

CareEdge Global IFSC to sell 19.8% stake to State Bank of India, NSEIX

Care Edge Ratings on Monday said it has decided to sell a 19.8 per cent stake in its wholly-owned subsidiary CareEdge Global IFSC to State Bank of India and NSE IFSC. The company has executed share purchase agreements and a shareholders' agreement with State Bank of India (SBI) and NSE IFSC (NSEIX) to sell a 9.9 per cent equity stake each in CareEdge Global IFSC Ltd (CGIL), Care Edge Ratings said in a regulatory filing. After the share transfer is completed, the company will continue to hold an 80.2 per cent equity stake in CGIL, it said. The deal is expected to be concluded within two months, it added.

Exit strategy

Govt must push its disinvestment agenda aggressively

IDBI employees' forum seeks review of stake sale, flags valuation concerns

The IDBI employees' forum sought a halt to the proposed sale and disclosure of valuation details, while the government said employees' service conditions would remain unchanged

FMCG majors eye stake in Farmley at potential ₹2,000 crore valuation

Emami, ITC, Britannia and Orkla India are among the companies interested in Farmley, as early investors explore a stake sale that could value the healthy snacking brand at ₹2,000 crore

Armani open to multiple investors for 15% stake sale, says CEO Marsocci

CEO Giuseppe Marsocci says no decision has been made on the stake sale; Giorgio Armani's will named LVMH, L'Oreal and EssilorLuxottica as preferred buyers

Govt evaluating financial bids for strategic stake sale in IDBI Bank

The government is evaluating the financial bids for strategic stake sale in IDBI Bank and the process is moving at a steady pace, government sources said on Friday. In July, billionaire investor Prem Watsa-backed Fairfax Financial Holdings and Dubai-based Emirates NBD had put in their revised bids to buy 60.72 per cent in IDBI Bank, sources had earlier said. The strategic disinvestment of IDBI Bank is moving at a steady pace. The government is evaluating the financial bids submitted by the interested investors, the sources said, without disclosing any further details. Both the bidders have experience in the Indian banking sector, with Dubai-based Emirates NDB acquiring majority stake in RBL Bank earlier this year and Fairfax Financial holding a 40 per cent stake in the private-sector CSB Bank. The bidders already have security clearance from Ministry of Home Affairs (MHA) and 'Fit and Proper' assessment from the Reserve Bank of India. This is the second time that the interested ..

SBM Bank India eyes 26% stake sale to fund expansion, growth plans

SBM Bank (India), a wholly owned subsidiary of SBM Bank (Mauritius) Ltd, is exploring a 26 per cent stake sale, and the proceeds would be utilised for the expansion of its Indian operations, the bank's ED and CFO, Amit Jagdhari, said. "The bank has appointed a consultant for the process, and we are at the Expression of Interest stage. As you know, there are very regulatory processes involved, so it is very difficult to give a timeline," he said. He clarified that the money realised from the stake sale would be deployed as growth capital for SBM Bank (India). He further said the parent entity has infused Rs 75 crore in June, while another Rs 75 crore is coming later this month to grow the business. The bank, with a limited branch presence in the country, aims for credit growth of 32-35 per cent in FY27. Earlier in the day, the bank opened its 23rd branch in Gurugram near Delhi. Alongside its physical expansion, SBM Bank India is also strengthening its digital wealth proposition, h

Azad Moopen family raises stake in Aster DM Quality Care to 24.58%

Promoter family buys 0.57% stake from TPG-backed Centella, two months after Aster-Quality Care merger became effective

US-based Y Combinator sells nearly 1.2% stake in Groww for ₹1,435 cr

Startup accelerator Y Combinator on Tuesday divested nearly a 1.2 per cent stake in Billionbrains Garage Ventures, the parent company of Groww, for Rs 1,435 crore through an open market transaction. US-based Y Combinator through its affiliate YC Holdings II, LLC, sold a total of 7,46,87,500 shares, representing a 1.19 per cent stake in Bengaluru-based Groww, as per the bulk deal data on the BSE. The shares were offloaded at an average price of Rs 192.16 apiece, taking the transaction size to Rs 1,435.19 crore. After the latest transaction, YC Holdings II LLC's shareholding in the stock broking firm declined to 7.44 per cent from 8.63 per cent. Details of the buyers of Billionbrains Garage Ventures' shares could not be ascertained on the exchange. Shares of Billionbrains Garage Ventures settled 2.52 per cent lower at Rs 193.70 apiece on the BSE on Tuesday. In May, Y Combinator sold a 1.45 per cent stake in Billionbrains Garage Ventures for Rs 1,642 crore through an open market ...

Prudential gets CCI nod to acquire 75% stake in Bharti Life Insurance

Fair trade regulator CCI on Tuesday cleared the proposal of Prudential Corporation Holdings, an arm of UK-based financial giant Prudential plc, to acquire a stake in Bharti Life Insurance Company Ltd. "The proposed combination envisages the acquisition of certain equity shareholding in Bharti Life Insurance Company Ltd (Target) by Prudential Corporation Holdings Ltd (Acquirer)," the Competition Commission of India (CCI) said in a release. Prudential Corporation Holdings acts as the holding company of the acquirer Group's insurance and asset management operations in Asia and provides management and support to its Asia and Africa business operations, while Bharti Life Insurance is an IRDAI-licensed insurer. "CCI approves acquisition of certain equity shareholding in Bharti Life Insurance Company Limited by Prudential Corporation Holdings Limited," the regulator said in a post on X. In May this year, UK-based Prudential plc announced that it would acquire a majority 75 per cent stake

Why India keeps selling stakes in PSUs instead of privatising them

India is selling PSU stakes, but rarely giving up control. Why has the government chosen disinvestment over full privatisation? Experts explain

Govt set to exceed key fundraising goal on state-firm stake sales

The long-delayed sale of the government's stake in IDBI Bank is also likely to conclude this fiscal year, potentially adding $2.5 billion to state coffers

₹32 crore dispute with partner behind shooting of GSM Foils' MD: Police

Police arrested seven people, including GSM Foils co-chairman Sagar Bhanushali, alleging he hired contract killers to eliminate Managing Director Mohansingh Parmar over a ₹32 crore financial dispute

Punjab & Sind Bank eyes 8-9 percentage point cut in govt stake via QIP: MD

Expect govt to also undertake minority stake sale in bank this year

HDFC Mutual Fund buys 1.43% stake in Jupiter Life Hospitals for ₹139 crore

HDFC Mutual Fund has bought 9.37 lakh shares of multi-speciality hospital chain operator Jupiter Life Line Hospitals for Rs 139 crore through open market transactions, according to block deal on the BSE. Following the transaction, shares of Jupiter Life Line Hospitals on Thursday rose 2.53 per cent to trade at Rs 1,537.60 apiece on the exchange. HDFC Mutual Fund purchased 9.37 lakh equity shares in two tranches, representing a 1.43 per cent stake in Mumbai-based Jupiter Life Line Hospitals Ltd (JLHL), as per the data. The transaction was executed on Wednesday at an average price of Rs 1,483.50 apiece, taking the combined deal value to Rs 139 crore. Meanwhile, two public shareholders of JLHL -- Arvind Rao Kamini and Mitul Nitin Thakker -- sold an equal number of shares at the same price, according to BSE data. In a separate bulk deal on the BSE, Nippon India Mutual Fund (MF) bought 5 lakh shares of logistics company TCI Express from HDFC MF for over Rs 28 crore through open market