Page 12 - Stake Sale

Hindustan Construction Company divests entire equity shareholding in HREL

Hindustan Construction Company (HCC) on Sunday said it has divested its entire equity shareholding in HREL Real Estate Ltd, a wholly owned subsidiary of the company. Accordingly, HREL and its following subsidiaries -- Nashik Township Developers Ltd, Powai Real Estate Developers Ltd, HCC Aviation Ltd, HCC Realty Ltd have ceased to be subsidiaries of the company, HCC said in a regulatory filing. "Hindustan Construction Company Ltd has divested its entire equity shareholding in HREL Real Estate Ltd, a wholly owned subsidiary of the company vide share purchase agreement executed on March 31, 2024," it said. The consideration received from sale stood at Rs 10 lakh. HCC had reported a consolidated profit of Rs 233.22 crore in the December quarter.

PPFAS Mutual Fund buys 6.2 million shares of ZEEL for Rs 88 crore

PPFAS Mutual Fund on Wednesday bought over 62 lakh shares of Zee Entertainment Enterprises Ltd (ZEEL) for Rs 88 crore through an open market transaction. PPFAS Mutual Fund through its affiliate Parag Parikh Long Term Value Fund acquired the shares of Mumbai-based ZEEL on the National Stock Exchange (NSE). According to the bulk deal data available with the NSE, Parag Parikh Long Term Value Fund acquired 62.22 lakh shares of Zee Entertainment Enterprises. The shares were bought at an average price of Rs 141.44, taking the deal value to Rs 88 crore. Details of the sellers of ZEEL's shares could not be ascertained. Shares of Zee Entertainment Enterprises gained 1.18 per cent to close at Rs 140.90 apiece on the NSE. Meanwhile, in a post on X (formerly Twitter), PPFAS Mutual Fund said, "There is a bulk deal trade of Parag Parikh Flexicap Fund buying Zee Entertainment Enterprises Ltd shares reported on NSE today. We wish to clarify that this was an Arbitrage transaction.

Standard Chartered Bank sells entire 7.18% stake in CDSL for Rs 1,266 crore

Standard Chartered Bank on Wednesday sold its entire 7.18 per cent stake in Central Depository Services (India) Ltd for Rs 1,266 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Standard Chartered Bank offloaded 75 lakh shares of Central Depository Services (India) Ltd (CDSL). The shares were disposed of at an average price of Rs 1,688.64 apiece, taking the transaction value to Rs 1,266.48 crore. As of December 2023, Standard Chartered Bank had owned a 7.18 per cent stake in CDSL, shareholding data showed with the NSE. Details of the buyers of CDSL's shares could not be ascertained. Shares of CDSL plunged 5.58 per cent to close at Rs 1,689 apiece on the NSE.. In a separate transaction on the NSE, Chicago-based Equity International divested a 4.7 per cent stake in Samhi Hotels for Rs 209 crore through an open market transaction. Equity International through its affiliate company -- Blue Chandra Pte Ltd --

HDFC Bank completes Rs 9,553 cr stake sale in education unit HDFC Credila

Central bank had asked private lender to reduce its shareholding in HDFC Credila

HDFC Bank closes $1.15 bn stake sale in education finance arm HDFC Credila

The conclusion of the deal comes ahead of HDFC Bank's fourth-quarter results next month

Tata Sons to sell up to 23.4 mn TCS shares in a deal worth $1.13 bn

Tata Consultancy Services' stock price closed at Rs 4,152.50 today, it is up 1% on one month and has gone up by 14.92% in six months

Brokerages see up to 25% upside for ITC post BAT stake sale

With today's sharp rally, technically ITC is seen trading close to its long-term moving average on the daily charts.

Rakesh Gangwal mops up Rs 6,786 crore from 6% stake sale in Indigo

At the end of December 2023 quarter, Rakesh Gangwal directly held 11.72 per cent stake in the company, the shareholding pattern data shows

British American Tobacco to sell ITC stock worth $2-3 bn this week: Report

London-listed BAT has been speaking with Bank of America Corp. and Citigroup Inc. about a potential divestment of around $2 billion to $3 billion in ITC stock through block trades, the people said

Triveni Engineering acquires 25.43% stake in Sir Shadi Lal Enterprises

Sugar company Triveni Engineering & Industries Ltd has acquired a 25.43 per cent stake in Sir Shadi Lal Enterprises Ltd (SSEL) for Rs 35 crore and launched an open offer to shareholders for acquiring an additional 26 per cent stake. Triveni Engineering is one of the leading integrated sugar producers in the country. It is also into engineered-to-order high speed gears & gearboxes and water and waste water management business. In a statement, the company said it has acquired a 25.43 per cent stake in SSEL. Pursuant to a share purchase agreement executed with Vivek Viswanathan and Radhika Viswanathan Hoon on January 30, 2024, the company on Monday acquired 25.43 per cent equity stake in SSEL for an aggregate consideration of Rs 35 crore, i.e. at a price of Rs 262.15 per equity share of SSEL. To acquire a majority stake in SSEL, the company had launched an open offer to the shareholders of SSEL to acquire up to 26 per cent of the outstanding voting share capital at Rs 262.15 per .

Rakesh Gangwal sells shares of InterGlobe Aviation worth Rs 6,785 crore

InterGlobe Aviation's promoter Rakesh Gangwal on Monday sold shares worth Rs 6,785 crore of the company through open market transactions. The co-founder of the company, which operates the country's largest airline IndiGo, offloaded 2.25 crore shares of IndiGo amounting to 5.83 per cent stake, according to bulk deal data on BSE. The shares were sold in three tranches, with the price per scrip varying from Rs 3,015.10 to Rs 3,016.36.

US-based Baron Capital boosts Swiggy's valuation to $12.1 billion

New valuation is above the $11 billion IPO valuation target that Swiggy is eyeing

Florida-based GQG Partners ups India bet with Bharti Airtel stake buy

The fund also acquires additional stake in Macrotech Developers

CCI clears Ring Plus Aqua's 59% stake buy in Maini Precision Products

Fair trade regulator CCI on Wednesday said it has granted approval to Ring Plus Aqua Ltd's proposed acquisition of a 59.25 per cent stake in Maini Precision Products Ltd. Maini Precision Products Ltd (MPPL) is engaged in the manufacturing of precision products for different industries and manufacturers. "The proposed combination inter-alia envisages the acquisition of 59.25 per cent shareholding in MPPL by RPAL, the acquisition of the entire shareholding of JK Files & Engineering Ltd in JK Talabot Ltd by a wholly-owned subsidiary of Raymond Ltd (New Company), and merger of RPAL, MPPL and the engineering business of JK Files into the new company," CCI said in a release. Raymond Ltd and its subsidiaries are engaged in the manufacture and sale of textiles, lifestyle products, branded apparel, hardware and tools, certain automotive parts, and real estate. The Competition Commission of India (CCI) said it has cleared the proposed deal on Wednesday. JK Files is a wholly-owned subsidiary

Kedaara Capital, Partners Group sell 12.6% stake in Aavas Financiers

Kedaara Capital and Partners Group, promoters of Aavas Financiers, on Tuesday divested 12.6 per cent in the housing finance company for Rs 1,369 crore through open market transactions. Private equity firm Kedaara Capital through its affiliate Lake District Holdings Ltd have sold the shares of Aavas Financiers, while Partners Group through its entities Partners Group ESCL and Partners Group Private Equity (Master Fund) LLC disposed of shares of Aavas on the National Stock Exchange (NSE). As per the bulk deal data available on the NSE, Lake District Holdings sold 58.39 lakh shares of Aavas Financiers, while Partners Group ESCL and Partners Group Private Equity (Master Fund) offloaded a total of 41.57 lakh shares of the housing finance company. These entities have collectively sold 99,96,950 shares, which represents a 12.6 per cent stake in Aavas Financiers Ltd. The shares were disposed of within the price range of Rs 1,370-1,370.20 apiece, taking the combined transaction value to Rs

PE firm KKR considers selling controlling stake in JB Pharma: Report

The US private equity firm is looking to hire financial advisers to help evaluate a sale of its 53.8% stake in the Mumbai-based company, the people said

Whirlpool India hits 6-year low; stock dips 6% on brokerage downgrade

Jefferies has downgraded the household appliance maker to 'underperform' from 'hold', cutting the target price to Rs 1,125 from Rs 1,265.

GQG's stake value in Adani Group touches $10 billion as stocks rebound

The firm's initial investment of $1.9 billion in March has ballooned to $10 billion in value, helped by market gains and additional stakes, according to fund manager Sudarshan Murthy

Whirlpool sells 24% stake in India unit for $468 mn, now holds 51%

Whirlpool conducted the sale through its subsidiary in Mauritius, reducing its stake in the entity from 75% to 51%

Jeff Bezos sells roughly 12 million shares of Amazon worth $2 billion

The sale plan, which is subject to certain conditions, was adopted on Nov. 8, 2023, and would be completed by Jan. 31, 2025, according to the company's latest annual report