Page 12 - Stake Sale

Warburg Pincus divests 8.4% stake in Kalyan Jewellers for Rs 2,937 crore

Private equity major Warburg Pincus on Thursday divested an 8.4 per cent stake in Kalyan Jewellers India for Rs 2,937 crore through open market transactions. The US-based Warburg Pincus through its arm Highdell Investment Ltd sold shares of Kalyan Jewellers India on the National Stock Exchange (NSE) and the BSE. Kalyan Jewellers India is into manufacture and sale of gems and jewellery. As per bulk and block deal data available on the exchanges, Highdell Investment disposed of 1.80 crore shares on the BSE. Similarly, Highdell Investment also offloaded more than 6.87 crore shares in three tranches on the NSE. Around 8.67 crore shares sold represent an 8.42 per cent stake in Kalyan Jewellers India. The shares were sold at an average price of Rs 344.42 apiece on the BSE, while the shares were disposed of within the price range of Rs 334-339.59 apiece on the NSE, taking the combined deal size to Rs 2,936.96 crore. After the latest transaction, Highdell Investment's shareholding in Ka

Artisan Partners divests 1.2% stake in Indus Towers for Rs 717 crore

Asset management company Artisan Partners on Wednesday divested a 1.2 per cent stake in telecom infrastructure major Indus Towers for Rs 717 crore through an open market transaction. The US-based Artisan Partners through its affiliate Artisan International Value Fund sold shares of Indus Towers on the BSE. According to the bulk deal data available with the BSE, Artisan International Value Fund offloaded 3,33,46,663 shares, amounting to a 1.24 per cent stake in Indus Towers. The shares were disposed of at an average price of Rs 215.10 apiece, taking the deal value to Rs 717.29 crore. After the latest transaction, Artisan Partners' shareholding in Indus Towers declined to 0.47 per cent stake from 1.71 per cent. Details of the buyers could not be ascertained. On Wednesday, shares of Indus Towers rose 1.92 per cent to close at Rs 225.50 apiece on the BSE. Last week, private equity major KKR, Canada Pension Plan Investment Board (CPPIB), and another entity sold Indus Towers' shares w

Adani Power inks pact to sell stake in 2 arms to AdaniConnex for Rs 540 cr

Adani Power on Thursday said it has inked an initial pact to sell 100 per cent equity in its two arms Aviceda Infra Park and Innovant Buildwell to AdaniConnex for Rs 540 crore. "Adani Power has entered into a Memorandum of Understanding (MOU) to sell its 100 per cent equity stake in its two wholly-owned subsidiaries i.e. Aviceda Infra Park Ltd (AIPL); and Innovant Buildwell Private Ltd (IBPL) to AdaniConnex Private Ltd (ACX)," a BSE filing said. Consequently, the AIPL and IBPL will cease to be wholly-owned subsidiaries upon completion of the sale, it added. The filing showed that the AIPL and IBPL are being sold for a consideration of Rs 190 crore and Rs 350 crore, respectively. AdaniConnex Private Ltd (ACX) is a 50:50 joint venture between Adani Enterprises, which is a promoter group company, and EdgeConneX. It is engaged in the business of developing world-class data centres and providing co-location hosting and ancillary services, including managed services, remote hands and fe

Bofa Securities offloads shares of 6 cos, including Infosys, for Rs 377 cr

Bofa Securities on Wednesday offloaded shares of six companies, including HDFC Bank and Infosys, for Rs 377 crore through open market transactions. Bofa Securities through its affiliate Bofa Securities Europe SA sold the shares of these companies through six separate block deals on the BSE. As per the block deal data available with the BSE, Bofa Securities Europe SA offloaded 7.21 lakh shares of Jio Financial Services, disposed of 7.22 lakh shares of Infosys and sold 7.72 lakh shares of private sector lender HDFC Bank. Bofa Securities Europe SA also disposed of shares in TVS Motor Company, Dabur India, and Page Industries. The shares were sold in the price range of Rs 36,398-238.75 apiece. The combined deal size stood at Rs 377.29 crore. Meanwhile, Hong Kong-based Kadensa Capital through its affiliate Kadensa Master Fund acquired the shares of these six companies. On Wednesday, shares of HDFC Bank gained 1.98 per cent to settle at Rs 1,455.85 apiece on the BSE. The scrip of Info

Magma Ventures sells Poonawalla Fincorp's shares worth Rs 200 crore

Magma Ventures on Wednesday sold shares of non-banking financial company Poonawalla Fincorp for Rs 200 crore through an open market transaction. Magma Ventures, an entity owned by Chamria Family, disposed of shares of Poonawalla Fincorp on the National Stock Exchange (NSE). Sanjay Chamria and Mayank Poddar co-founded Magma Fincorp Ltd (now known as Poonawalla Fincorp Ltd). According to the block deal data available with the NSE, Magma Ventures Pvt Ltd offloaded 40.33 lakh equity shares, amounting to a 0.52 per cent stake in Poonawalla Fincorp. The shares were offloaded at an average price of Rs 495.85 apiece, taking the transaction size to Rs 199.97 crore. After the latest transaction, Magma Ventures shareholding have declined to nearly 1 per cent from 1.50 per cent stake in Poonawalla Fincorp. Meanwhile, Rising Sun Holdings Pvt Ltd (RSHPL) bought the shares at the same price. RSHPL, a company controlled by Adar Poonawalla. It is also the promoter of Poonawalla Fincorp. The scri

Govt to sell 3.5% stake in NHPC at Rs 66 a share beginning Thursday

The government on Wednesday said it will sell a 3.5 per cent stake in power producer NHPC at a floor price of Rs 66 a share, which will garner Rs 2,300 crore to the exchequer. "Offer for sale in NHPC opens tomorrow for non-retail investors. Retail investors can bid on Friday. The government will divest 3.5 per cent equity, including Greenshoe option of 1 per cent," the Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey said on X. As part of the OFS, the government will sell over 25 crore equity shares in NHPC, with a greenshoe option to sell 10 crore more. The floor price of Rs 66 a share is at a discount of 9.66 per cent over Wednesday's closing price of NHPC shares. At the floor price, the OFS would fetch about Rs 2,300 crore to the exchequer. Shares of NHPC closed at Rs 73.06 apiece, up 0.90 per cent on the BSE.

RPSG Ventures to raise Rs 284.21 crore through preferential issue allotment

RPSG Ventures Ltd on Wednesday said the company's board has approved a proposal to raise Rs 284.21 crore through preferential share allotment to promoters. The issue price is Rs 795 per share, including a premium of Rs 785 per share, it said in an exchange filing. The company, which is engaged in fast-moving consumer goods (FMCG), process outsourcing, ayurveda formulations, real estate and sports segments, will issue up to 35,75,000 equity shares. The shares will be allotted to promoter group companies Rainbow Investments Ltd and Integrated Coal Mining Ltd. The allotment is subject to shareholder and regulatory approvals. Post the exercise, Rainbow Investments' holding will rise to 39.08 per cent with 1,29,29,326 shares, and Integrated Coal Mining's stake will be 16.99 per cent (56,20,072 shares).

ICICI Venture to sell its entire 42% stake in patisserie chain Theobroma

The alternative investment arm of ICICI Bank is expecting the 20-year-old chain Theobroma to be valued at Rs 2,800 crore

Fairfax Financial pares 5.7% stake in IIFL Finance worth Rs 1,198 crore

Canadian billionaire Prem Watsa's Fairfax Group on Friday divested a 5.7 per cent stake in IIFL Finance for Rs 1,198 crore through an open market transaction. Fairfax Group through its affiliate FIH Mauritius Investments Ltd have sold the shares of IIFL Finance Ltd. According to the bulk deal data available with the BSE, FIH Mauritius Investments offloaded 2,16,02,000 crore shares, representing a 5.7 per cent stake in IIFL Finance Ltd. The shares were disposed of at an average price of Rs 554.64 apiece, taking the transaction value to Rs 1,198.13 crore. After the latest transaction, FIH Mauritius Investments' shareholding had declined to 15.2 per cent from 20.90 per cent in IIFL Finance. Meanwhile, Nomura India Investment Fund Mother Fund acquired more than 26.20 lakh shares of IIFL Finance at an average price of Rs 551.01 per share, taking the deal size to Rs 144.39 crore, as per the data. Shares of IIFL Finance declined 3.86 per cent to close at Rs 572.60 apiece on the BSE.

IndusInd Bank exits Nippon Life India Asset, sells shares worth Rs 795 cr

Hinduja-promoted IndusInd Bank on Wednesday sold its entire 2.86 per cent stake in Nippon Life India Asset Management for Rs 795 crore through open market transactions. SBI Mutual Fund (MF), ICICI Prudential MF, Bajaj Allianz Life Insurance, ICICI Prudential Asset Management Company, Societe Generale and Morgan Stanley Asia Singapore, were among the buyers. Through 13 tranches, IndusInd Bank offloaded 1,78,57,355 shares, amounting to a 2.86 per cent stake in Nippon Life India Asset Management (NAM-INDIA), as per the block deal data available with the BSE. The shares were disposed of at an average price of Rs 445.35 per piece, taking the combined transaction value to Rs 795.27 crore. At the end of the September quarter, IndusInd Bank held 1,78,57,355 shares, representing a 2.86 per cent stake in NAM-INDIA, according to shareholding data on the BSE. On Wednesday, shares of NAM-INDIA rose 2.05 per cent to close at Rs 459 apiece on the BSE. Meanwhile, in a block deal on the NSE, K S

Two Promoter entities of Astral divest 1.74% stake worth Rs 885 crore

Two promoter entities of building materials and equipment company Astral Ltd on Wednesday divested 1.74 per cent stake in the company for Rs 885 crore through open market transactions. Kairav Chemicals Ltd and Saumya Polymers LLP were the promoter group entities who sold the shares of Astral. Nippon India Mutual Fund, Reliance Life Insurance Company, Star Union Dai-chi Life Insurance, National Pension System (NPS) Trust SBI, Morgan Stanley, the government of Singapore, Abu Dhabi Investment Authority, and Tara Emerging Asia Liquid Fund were the buyers of the shares. As per the block deal data available with the National Stock Exchange (NSE), Kairav Chemicals offloaded 10.60 lakh shares of Astral and Saumya Polymers sold more than 36.20 lakh shares, amounting to 0.39 per cent stake and 1.35 per cent stake, respectively, in the company. The shares were disposed of at an average price of Rs 1,889.80 per piece, taking the combined transaction value to Rs 884.56 crore. After the latest

Mahindra Logistics to sell its entire 39.79% stake in associate firm TLPL

Mahindra Logistics on Wednesday announced the sale of entire 39.79 per cent stake in its associate company Transtech Logistics Pvt Ltd (TLPL). Post completion of this sale, TLPL would cease to be an associate of the company. "The company...at its meeting held today....entered into a share purchase agreement with Transtech Logistics Pvt Ltd... for sale/transfer of the 39.79 per cent stake held by the company in TLPL i.e., 100 equity shares of Rs 10 each and 65,988 compulsorily convertible preference shares of Rs 50 each, for a consideration of Rs 1,32,176," Mahindra Logistics said in a filing to BSE. Revenue from operations of TLPL for the financial year ended March 31, 2023 was Rs 3.26 crore. "The 39.79 per cent stake held by the company in TLPL...are transferred to Amarnath Kalale ('Buyer'), who is one of the promoters of TLPL. The buyer does not belong to the company's promoter/promoter group/ group companies," the filing said. Mahindra Logistics Ltd is an integrated third-party

JSW Steel arm Periama acquires JSW USA, purchases remaining 10% stake

JSW Steel on Tuesday said its arm Periama Holdings LLC (Periama) has completed the acquisition of JSW USA by purchasing the remaining 10 per cent stake in its "common stock". Periama Holdings LLC (Periama) is a wholly-owned subsidiary of domestic player JSW Steel. "Periama on December 18, 2023 (US time) completed the acquisition by purchase of the remaining 10 per cent stake in the Common stock of JSW USA," the filing said. Consequent to completion of this acquisition, Periama's shareholding in JSW USA has increased from 90 per cent (pre-acquisition) to 100 per cent (post-acquisition) and JSW USA has become a wholly-owned subsidiary of Periama and a step down wholly-owned subsidiary of JSW Steel, it said.

Edelweiss Financial Services to sell stake in unit for up to Rs 2,000 cr

The move to sell the stake will reduce the company's debt and improve its market value, it said

Bain Capital nominee Ashish Kotecha steps down from board of Axis Bank

This comes after the direct shareholding of entities affiliated with Bain Capital in the bank came down below two per cent

Ontario Teachers' to acquire 30% stake in Mahindra Susten for Rs 2,371 cr

The companies will also establish an Infrastructure Investment Trust (InvIT) comprising renewable power assets of Mahindra Susten with an operation capacity of 1.54 GWp

LIC to infuse Rs 25 crore into its subsidiary LIC MF Asset Management

LIC MF ranks 23rd among fund houses in terms of assets under management (AUM). In the September 2023 quarter, the fund house's average AUM was Rs 24,257 crore

Japan's Softbank pares 1.1% stake in Zomato worth Rs 1,128 crore

Japanese conglomerate Softbank on Friday divested a 1.1 per cent stake in online food delivery aggregator Zomato for Rs 1,128 crore through an open market transaction. Following the stake sale, shares of Zomato fell 1.27 per cent to close at Rs 120.15 apiece on the NSE. Invesco Mutual Fund (MF), Sundaram MF, Edelweiss MF, ICICI Prudential Life Insurance, Goldman Sachs (Singapore), Morgan Stanley Asia Singapore, Societe Generale, BNP Paribas Arbitrage, Copthall Mauritius Investment, and Citigroup Global Markets Investment, among others were the buyers of the Zomato's share. SVF Growth (Singapore) Pte, an affiliate of Softbank, offloaded 9,35,69,368 shares, amounting to a 1.08 per cent stake in Zomato, as per the block deal data available with the National Stock Exchange (NSE). The shares were sold at an average price of Rs 120.50 apiece, taking the combined deal size to Rs 1,127.51 crore. After the latest transaction, Softbank's shareholding has declined to 1.09 per cent from a 2.1

Adani, Wilmar may sell part of their stake in AWL to private equity firms

AWL stake sale to be one of the largest in recent times

Govt to sell 8% stake in IRCON International through offer-for-sale

The plan is to offload 37.6 million equity shares, of face value of Rs 2 each-representing 4 per cent of the company for non-retail investors on Thursday