Business Standard

Stake sale

Investors from West Asia, Japan eying YES Bank's $5 bn stake sale: Report

The Middle Eastern lender is weighing a bid for as much as a 51% stake in Yes Bank, the people said, asking not to be identified as the deliberations are private

Investors from West Asia, Japan eying YES Bank's $5 bn stake sale: Report
Updated On : 11 Jul 2024 | 12:41 AM IST

YES Bank denies report on 51% stake sale, calls it 'factually incorrect'

The bank called the news report "factually incorrect and purely speculative" in nature

YES Bank denies report on 51% stake sale, calls it 'factually incorrect'
Updated On : 09 Jul 2024 | 12:09 PM IST

Blackstone Inc in advanced talks to acquire controlling stake in Haldiram's

Blackstone, together with consortium partners Abu Dhabi Investment Authority and Singapore's GIC, have been in discussions for several months with the Agrawal family members based in Delhi and Nagpur

Blackstone Inc in advanced talks to acquire controlling stake in Haldiram's
Updated On : 08 Jul 2024 | 3:03 PM IST

Lufthansa gets EU nod for $350 million stake in Italy's ITA Airways

ITA also offers key long-haul routes to Lufthansa, which has an option to take full ownership if the Italian airline's financial performance improves

Lufthansa gets EU nod for $350 million stake in Italy's ITA Airways
Updated On : 04 Jul 2024 | 7:05 AM IST

Skydance reaches new merger deal to buy controlling stake in Paramount

The news sent Paramount shares up 9 per cent in after-hours trading

Skydance reaches new merger deal to buy controlling stake in Paramount
Updated On : 03 Jul 2024 | 8:56 AM IST

UltraTech picks up 23% in India Cements as sector battle hots up

Aditya Birla Group-owned UltraTech Cement to purchase 70.6 mn shares for non-controlling financial investment

UltraTech picks up 23% in India Cements as sector battle hots up
Updated On : 28 Jun 2024 | 12:42 AM IST

Piramal Natural, 2 others exit Archean Chemical Industries, sell 10% stake

Piramal Natural Resources and two other entities on Thursday exited Archean Chemical Industries by selling their entire 10 per cent shareholding for Rs 822 crore through open market transactions. India Resurgence Fund - Scheme 1 & 2, affiliates of India Resurgence Fund (IndiaRF), sold shares of the speciality marine chemical manufacturer Archean Chemical Industries through separate bulk deals on the BSE. India Resurgence Fund is an India-focused distressed investment platform, sponsored by Piramal Enterprises Ltd and Bain Capital Credit. Piramal Natural Resources also offloaded shares of Archean Chemical on the exchange. Nearly 1.25 crore shares or 10.13 per cent stake of Chennai-based Archean Chemical Industries changed hands on the bourse. As per the data available with the BSE, India Resurgence Fund - Scheme 1 & 2 sold a total of 91.11 lakh shares, amounting to a 7.3 per cent stake in Archean. Additionally, Piramal Natural Resources offloaded 33.88 lakh shares or 2.75 per ..

Piramal Natural, 2 others exit Archean Chemical Industries, sell 10% stake
Updated On : 27 Jun 2024 | 10:47 PM IST

Ambuja Cements, Ravi Sanghi to offload 3.52% stake in Sanghi Industries

Adani group firm Ambuja Cements and Ravi Sanghi, the promoters of Sanghi Industries, will sell 3.52 per cent stake in the Saurashtra-based cement manufacturer. The Offer-for-Sale (OFS) will open on Wednesday for non-retail investors and on Thursday for retail investors, Sanghi Industries said in a regulatory filing on Tuesday evening. "Ambuja Cements and Ravi Sanghi (the seller/promoters) propose to sell up to 90,92,000 equity shares of Sanghi Industries representing 3.52 per cent of the total issued and paid up equity share capital of the company," it said. Shares of Sanghi Industries, in which the majority stake was acquired by Adani group firm Ambuja Cement last year, were trading at Rs 102.35, higher by 0.09 per cent on the BSE in morning deals. Calculated on the basis of current market price, this OFS will fetch Rs 93.05 crore. In the last one year, shares of Sanghi Industries peaked at Rs 151.85 on January 15, 2024. "The offer shall take place over two trading days on a sep

Ambuja Cements, Ravi Sanghi to offload 3.52% stake in Sanghi Industries
Updated On : 26 Jun 2024 | 11:27 AM IST

Prestige Estates Projects approves $599 million fundraise via stake sale

"The monetizing bid largely means that Prestige will seek greater value for hospitality biz and will likely go for an initial public offering," said Karan Khanna, a research analyst at Ambit Capital

Prestige Estates Projects approves $599 million fundraise via stake sale
Updated On : 21 Jun 2024 | 11:00 PM IST

Marshall Wace sells shares of One97 Comm, Shriram Finance for Rs 419 crore

UK-based hedge fund Marshall Wace on Friday sold shares of One97 Communications and Shriram Finance for a combined value of Rs 419 crore through open market transactions. Marshall Wace, through its arm Marshall Wace Investment Strategies - Eureka Fund, offloaded shares of One97 Communications, owner of Paytm brand, and Shriram Finance Ltd through separate block deals on the National Stock Exchange (NSE). As per the data on the NSE, Marshall Wace Investment Strategies - Eureka Fund sold 5.85 lakh shares of One97 Communications at an average price of Rs 428.05 apiece. In addition, Marshall Wace Investment Strategies - Eureka Fund also disposed of over 14.67 lakh shares of Shriram Finance at an average price of Rs 2,684.30 per piece. This took the combined transaction value to Rs 419.09 crore. Meanwhile, Paris-based financial services firm BNP Paribas, through its affiliate BNP Paribas Financial Markets purchased shares of One97 Communication and Shriram Finance Ltd at the same pric

Marshall Wace sells shares of One97 Comm, Shriram Finance for Rs 419 crore
Updated On : 14 Jun 2024 | 11:10 PM IST

IndiGo stake sale to raise funds to scale up hospitality biz: IGE

Citigroup bought 3.1 million shares for Rs 1,362 crore

IndiGo stake sale to raise funds to scale up hospitality biz: IGE
Updated On : 11 Jun 2024 | 9:52 PM IST

Union Bank to raise Rs 10,000 cr, including Rs 6,000 cr from stake sale

State-owned Union Bank of India on Tuesday approved a proposal to raise Rs 10,000 crore, including Rs 6,000 crore from share sale, to fund its business growth. The board approved raising equity capital not exceeding Rs 6,000 crore in tranche(s) within the overall limit of Rs 10,000 crore through public issue -- further public offer or rights issue or QIP, Union Bank of India said in a regulatory filing. This would be subject to the approval of the government, other regulatory authorities and shareholders' approval, it added. The board also approved the raising of Basel III compliant Additional Tier 1 (AT 1) Bonds not exceeding Rs 2,000 crore and Tier 2 Bonds not exceeding Rs 2,000 crore (including foreign currency denominated AT1/Tier 2 Bonds) within the overall limit of Rs 10,000 crore, it noted.

Union Bank to raise Rs 10,000 cr, including Rs 6,000 cr from stake sale
Updated On : 11 Jun 2024 | 8:13 PM IST

Cintra receives CCI's approval to acquire 24% stake in IRB Infra Trust

The Competition Commission of India (CCI) on Tuesday said it has approved Cintra's proposed acquisition of 24 per cent unitholding in IRB Infrastructure Trust and MMK Toll Road Pvt Ltd. Cintra InvIT Investments BV (Cintra SPV 1) and Cintra IM Investments BV (Cintra SPV 2) collectively belong to the Netherlands-based Ferrovial group. "The proposed combination involves the acquisition of approximately 24 per cent of the issued and outstanding unitholding (on a fully-diluted basis) along with certain commercially negotiated rights in the Private InvIT (IRB Infra Trust) by Cintra SPV 1. "Simultaneous acquisition of approximately 24 per cent equity shareholding along with the right to nominate a director on the board of directors of the IM of the Private InvIT by Cintra SPV 2," CCI said in a release. Ferrovial group is a global developer of transport infrastructure, mobility solutions, engineering and is engaged in the construction of civil works and buildings. The sponsors of IRB ...

Cintra receives CCI's approval to acquire 24% stake in IRB Infra Trust
Updated On : 04 Jun 2024 | 11:17 PM IST

Billionaire Peltz's Trian sells entire Disney stake after board fight

Disney shareholders had last month backed CEO Bob Iger and other company directors after a multimillion-dollar, mud-slinging battle launched by Peltz and Blackwells Capital

Billionaire Peltz's Trian sells entire Disney stake after board fight
Updated On : 30 May 2024 | 10:34 AM IST

Adani Ports' 0.5% stake worth Rs 1,480 crore changes hands, seller unknown

Adani Ports holds a 65.89% stake in the company, mutual funds owns 3.1% stake, while India's largest insurance company, LIC, holds a 7.86% stake

Adani Ports' 0.5% stake worth Rs 1,480 crore changes hands, seller unknown
Updated On : 24 May 2024 | 5:14 PM IST

Cipla zooms 5% on 2.53% stake sale by Hamied family, Okasa Pharma

Promoters Shirin Hamied, Rumana Hamied, Samina Hamied and Okasa Pharma Private Limited have sold 2.53 per cent shares of Cipla for an undisclosed amount

Cipla zooms 5% on 2.53% stake sale by Hamied family, Okasa Pharma
Updated On : 15 May 2024 | 10:29 AM IST

Quant Money Managers gets RBI nod to acquire up to 9.98% in RBL Bank

Stake can be acquired through various schemes by mutual fund subsidiary of the investment management firm

Quant Money Managers gets RBI nod to acquire up to 9.98% in RBL Bank
Updated On : 14 May 2024 | 1:32 PM IST

Adani Energy Solutions arm to acquire 100% stake in Pointleap Projects

Adani Electricity Mumbai Ltd on Thursday signed an agreement to acquire 100 per cent stake in Pointleap Projects Pvt Ltd (PPPL) for a consideration of Rs 13.15 crore. Adani Electricity Mumbai Limited (AEML) is a subsidiary of Adani Energy Solutions Ltd (AESL). "AEML today executed Share Purchase Agreement (SPA) with Windson Projects LLP (WPLLP) for acquiring 100 per cent equity shares of PPPL," AESL said in a regulatory filing. The acquisition is expected to be completed within 4-5 working days from the execution date of SPA, it said.

Adani Energy Solutions arm to acquire 100% stake in Pointleap Projects
Updated On : 02 May 2024 | 8:19 PM IST

Two entities sell 4.9% stake in Gland Pharma for Rs 1,411 cr via open mkt

Two entities -- Lakumi Trust and Nicomac Machinery -- on Tuesday divested a 4.9 per cent stake in Gland Pharma for Rs 1,411 crore through open market transactions. Lakumi Trust and Nicomac Machinery Pvt Ltd disposed of 81.20 lakh shares of Gland Pharma in separate bulk deals on the National Stock Exchange (NSE). As per the data on the NSE, Lakumi Trust offloaded 61.65 lakh shares of Gland Pharma and Nicomac Machinery sold more than 19.55 lakh shares, amounting to a 3.74 per cent stake and an 1.18 per cent stake in the company. The shares were sold within the price range of Rs 1,735.31-1,739.10 apiece, taking the transaction value to Rs 1,411.57 crore. After the latest transaction, Nicomac Machinery sold its entire 1.18 per cent stake and exited the firm. Details of the buyers of Gland Pharma's shares could not be ascertained. Shares of Gland Pharma fell 2.83 per cent to close at Rs 1,807 apiece on the NSE. China's Fosun Pharma is the promoter of Gland Pharma and holds a 57.86 pe

Two entities sell 4.9% stake in Gland Pharma for Rs 1,411 cr via open mkt
Updated On : 09 Apr 2024 | 9:58 PM IST

Bain Capital raises $429 mn with Axis Bank stake sale; sells 33.4 mn shares

Bain sold 33.4 million shares in the block trade, according to a term sheet reviewed by Reuters

Bain Capital raises $429 mn with Axis Bank stake sale; sells 33.4 mn shares
Updated On : 09 Apr 2024 | 1:44 PM IST