Page 15 - Stake Sale

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

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