Page 14 - Stake Sale

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

Promoter entity of Sapphire Foods India divests 4.2% stake worth Rs 378 cr

Promoter entity of Sapphire Foods India Arinjaya (Mauritius) Ltd on Tuesday pared a 4.2 per cent stake in the restaurant operator for Rs 378 crore through an open market transaction. Sapphire Foods India Ltd (SFIL) is an omnichannel restaurant operator and the largest franchise of Yum Brands such as KFC, Pizza Hut, Taco Bell etc in India and Sri Lanka. According to the bulk deal data available with the BSE, Arinjaya (Mauritius) Ltd offloaded 27 lakh shares, amounting to a 4.2 per cent stake in Sapphire Foods India. The shares were sold at an average price of Rs 1,400.01 apiece, taking the transaction value to Rs 378 crore. After the transaction, Arinjaya (Mauritius) Ltd's shareholding has declined to 3.79 per cent from 7.99 per cent in Sapphire Foods India. Meanwhile, the Singapore government acquired more than 20.19 lakh shares of Sapphire Foods India at the same price. Shares of Sapphire Foods India fell 1.67 per cent to close at Rs 1,422.50 apiece on the BSE. In another bulk

China's Alipay sells stake in Zomato for nearly $400 million: Term sheet

The deal comes after Reuters reported on Tuesday that Alipay was planning to sell its 3.4% in Zomato through block deals on the Indian stock exchanges

Aster DM Healthcare soars 15%; hits new high on stake sale plan in Gulf biz

The company announced on Tuesday that its subsidiary would sell its stake in Aster DM Healthcare FZC to Alpha GCC for $1.01 billion (Rs 8,125 crore).

DB Realty promoters sell nearly 3% for Rs 301 cr; reinfuse capital

Promoters of DB Realty has sold nearly 3 per cent stake in the company for Rs 301 crore and infused back a substantial amount in the real estate firm for reduction of debt. In a regulatory filing, Mumbai-based DB Realty informed that "the Promoter Group has sold 1.46 crore shares of the company reflecting a 2.91 per cent stake in the company and have raised Rs 301 crore by sale of the said shares." The promoter group has infused back a substantial portion of the proceeds (net of tax) into the company as repayment of related party transactions and unsecured interest free loan, it added. "The funds so infused has enabled the company to retire its entire debt and therefore the company on a standalone basis shall be debt free on a standalone basis on or before 30th November 2023," DB Realty said. The company said it has been reducing debt from last few years. The company had a debt of Rs 1,373 crore (standalone) and Rs 3,140 crore (consolidated) as of September 30, 2021. "Since then

CCI approves acquisition of additional stake in Niva Bupa Health Insurance

Fair trade regulator CCI on Thursday approved the acquisition of an additional stake in Niva Bupa Health Insurance Company by Bupa Singapore Holdings Pte. Bupa Singapore Holdings is a shareholder of Niva Bupa and a subsidiary of international healthcare group The British United Provident Association Ltd (Bupa). The transaction relates to the secondary purchase of shares by Bupa Singapore Holdings in the Niva Bupa Health Insurance Company from Fettle Tone LLP. After the transaction, the shareholding of Bupa Singapore Holdings will increase to 63 per cent in Niva Bupa Health Insurance. Niva Bupa Health Insurance provides insurance policies in India, while Fettle Tone LLP is a special purpose vehicle (SPV) set up by private equity firm True North Fund. The Competition Commission of India (CCI) said it has cleared the deal under the green channel route. "Apart from the Bupa Singapore Holdings's (Acquirer) and Bupa's existing interests in Niva Bupa (Target), there are no horizontal ..

Peak XV Partners sells 1.5% stake in Aptus Value Housing for Rs 213 cr

Peak XV Partners (formerly Sequoia Capital India & SEA) on Friday divested a 1.5 per cent stake in Aptus Value Housing Finance India for over Rs 213 crore through open market transactions. Peak XV Partners, through its affiliate, Peak XV Partners Investments VI sold the shares in two tranches of Aptus Value Housing Finance India on the National Stock Exchange (NSE). According to the block deal data available with the NSE, Peak XV Partners Investments VI offloaded 74,35,937 shares, amounting to a 1.5 per cent stake in Aptus Value Housing Finance India. These shares were sold at an average price of Rs 287 apiece, taking the transaction value to Rs 213.41 crore. After the transaction, Peak XV Partners shareholding in the company has declined to 1.11 per cent from 2.61 per cent. Meanwhile, SBI Mutual Fund picked up 60 lakh shares and Blue Diamond Properties Pvt Ltd acquired more than 14.35 lakh shares, amounting to a 1.2 per cent and 0.3 per cent stake, respectively, in Aptus Value ..

D B Realty arms sell shareholding in Siddhivinayak Realties for Rs 376 cr

D B Realty on Thursday said its subsidiaries have sold their entire shareholding in form of shares and debentures in Siddhivinayak Realties Pvt Ltd to Reliance Commercial Finance Ltd (RCFL) for Rs 376.18 crore to settle dues partly. In a regulatory filing, Mumbai-based D B Realty said that its subsidiaries have entered into a share purchase agreement on November 1 to sell their entire shareholding in equity shares and OCDs (optionally convertible debentures) in Siddhivinayak Realties to RCFL for Rs 376.18 crore. This has been done to "settle part of the group liabilities given by RCFL to the company, its subsidiary - Goregaon Hotel And Realty Pvt Ltd and its associate - Bamboo Hotel & Global Centre (Delhi) Pvt Ltd.

Adani Logistics acquires 50% shares of Veracity Supply Chain Ltd

Adani Logistics Ltd on Tuesday said it has acquired a 50 per cent stake in Veracity Supply Chain Private Ltd (VSCPL). VSCPL, which was incorporated on Tuesday, has an authorised and paid-up share capital of Rs 10,00,000. "Adani Logistics Ltd, a wholly owned subsidiary of the company, has subscribed 50,000 equity shares (50 pc) of Veracity Supply Chain Private Ltd (VSCPL) incorporated on October 31, 2023 (11:48 AM IST)," Adani Logistics Ltd said in a BSE filing. VSCPL has been incorporated to provide last-mile connectivity to customers from in-land container depot, powered by digital transport management system, as per a statement.

IWEL raises Rs 800 crore through sale of equity shares of Inox Wind

Inox Wind Energy Ltd (IWEL) has raised Rs 800 crore through sale of equity shares of Inox Wind, according to a regulatory filing. The sale has been made through block deals on the stock exchanges, INOXGFL Group said in a BSE filing. "IWEL, the promoter of Inox Wind Ltd (IWL), successfully raised Rs 800 crore through sale of equity shares of Inox Wind via block deals on the stock exchanges," it said. The funds raised will be infused into IWL and utilized for the repayment of IWL's external debt, marking a significant step towards achieving a net-debt free status. The transaction witnessed strong participation across long-only domestic and foreign institutional investors, it said. Devansh Jain, Executive Director of INOXGFL Group, said "With today's transaction, we have taken a large step towards our goal of achieving a net debt-free status for Inox Wind Ltd. "As Inox Wind embarks on its next phase of growth, underpinned by India's renewable energy targets, its robust financial ...

Vodafone to sell Spanish arm to Zegona Communications for $5.3 billion

London-listed Zegona, chaired and managed by telecoms executive Eamonn O'Hare, has previously bought and sold assets in Spain, including regional operator Euskatel

Vodafone to sell Spanish arm to Zegona Communications for $5.3 billion

London-listed Zegona, chaired and managed by telecoms executive Eamonn O'Hare, has previously bought and sold assets in Spain, including regional operator Euskatel

Siemens Energy considering to sell substantial part of 24% stake to Siemens

The shares are currently worth about 3.3 billion ($3.5 billion). Siemens already owns 51% of the Indian business

Govt gets multiple expressions of interest for strategic sale of IMPCL

The government has received multiple expressions of interest for strategic sale of Indian Medicines Pharmaceutical Corporation Limited (IMPCL). "Multiple Expressions of Interest (EoIs) received for the strategic disinvestment of Indian Medicines Pharmaceutical Corporation Limited (IMPCL). The transaction will now move to the second stage," DIPAM Secretary Tuhin Kanta Pandey posted on X (formerly Twitter). The second stage would involve due diligence and subsequent issue of RFPs (request for proposals) for financial bids. The Department of Investment and Public Asset Management (DIPAM) had on August 31 invited EoIs from interested bidders for disinvestment of IMPCL. The last date for putting in preliminary bids was October 30. The government of India holds a 98.11 per cent stake in IMPCL, under the administrative control of the Ministry of Ayush. The remaining 1.89 per cent is held by Kumaon Mandal Vikas Nigam Ltd (KMVNL), an undertaking of the Uttarakhand government. KMVNL also ..

Vodafone nears stake sale in $5.3 bn Spanish unit to Zegona: Report

While discussions are at an advanced stage, they could still be delayed or even falter, according to the people

Yes Bank acquires additional shares in JC Flowers ARC, raises stake to 9.9%

Yes Bank on Saturday said the bank has acquired 2.4 crore additional shares of J C Flowers Asset Reconstruction (JC Flowers ARC), taking its stake to 9.9 per cent. Shares of JC Flowers ARC were transferred from JCF ARC LLC to the bank on October 27, 2023, Yes Bank said in a regulatory filing. "On November 28, 2022, the bank had acquired 9.9 per cent of the equity share capital of JC Flowers ARC. Basis certain corporate actions in JC Flowers ARC, bank's stake had reduced to 5.01 per cent from 9.9 per cent," it said. However, it said, in accordance with share subscription and purchase agreement, the lender has now acquired additional shares in JC Flowers ARC so as to reinstate the bank's stake to 9.9 per cent. The bank acquired 24,643,558 equity shares of JC Flowers ARC at Rs 29.68 per equity share, having face value of Rs 10 at a premium of Rs 19.68 per unit for an amount aggregating to Rs 731,420,804. JC Flowers ARC is a company incorporated on May 6, 2015 under the Companies Act,