Page 21 - Stake Sale

Indian govt to sell 1.55% stake in Axis Bank via offer for sale: SUUTI

Floor price for the offer is 830.63 rupees per share, it added. The offer will be concluded over Thursday and Friday, with non-retail investors bidding on first day and retail investors on second day

Govt to exit Axis Bank with 1.55% stake sale, expects to garner Rs 4,000 cr

In May last year, the government sold of 1.95 per cent stake in Axis Bank held through SUUTI for a consideration of about Rs 4,000 crore

Govt equity in Vodafone Idea hinges on stock recovery: Indus Towers

Any equity infusion cannot be below par value, says Indus Towers in its Q2 report

IDBI Bank's proposed stake sale likely to run into regulatory hurdle

Sebi raises concern over low public float in the lender

Nomura Singapore sells 1.52% stake in CSB Bank worth Rs 61 crore

Nomura Singapore on Tuesday divested 1.52 per cent stake in private sector lender CSB Bank for over Rs 61 crore through an open market transaction. According to bulk deal data available with the National Stock Exchange (NSE), Nomura Singapore offloaded 26,39,673 shares, amounting to 1.52 per cent stake in the company. The shares were disposed off at an average price of Rs 232.3 apiece, taking the transaction value to Rs 61.31 crore. Meanwhile, Maybank Securities Pte bought the shares at the same price. On Tuesday, shares of CSB Bank closed 2.42 per cent lower at Rs 228.20 apiece on NSE.

Sojitz Corp sells 2.83% stake in Samvardhana Motherson for Rs 825 crore

Sojitz Corporation on Tuesday divested 2.83 per cent stake in auto component major Samvardhana Motherson International for Rs 825 crore through an open market transaction. According to the bulk deal data available with the BSE, Sojitz Corporation offloaded 12,80,00,000 shares, amounting to 2.83 per cent stake in the company. The shares were disposed of at an average price of Rs 64.53 apiece, taking the transaction value to Rs 825.98 crore. In July 2020, the Motherson Group announced that they will reorganise its businesses and will change the name of Motherson Sumi Systems Ltd (MSSL) to Samvardhana Motherson International Ltd (SAMIL). Shares of Samvardhana Motherson International closed 7.73 per cent lower at Rs 63.85 apiece on the BSE.

Invesco sells 5.5% stake in Zee for Rs 1,396 cr at Rs 263.7 a share

Morgan Stanley, Citigroup, Bank of America, Abvendus, ICICI Prudential MF were some of the buyers

Invesco to sell 5.51% stake in Zee Entertainment for over Rs 1,300 cr

This is the second block deal by Invesco in seven months, which offloaded 7.8% stake in Zee Entertainment in April

LIC sells over 2% stake in Power Grid for Rs 3,079 crore in 5 months

LIC has sold over 2 per cent of its holding in Power Grid Corporation over the past five months for Rs 3,079.43 crore, the insurer said on Wednesday. There is a decrease of 2.003 per cent in holding during the period from May 18, 2022 to October 11, 2022. As per regulatory requirement by Sebi, listed companies have to disclose about change in shareholding of 2 per cent and above. "Corporation's shareholding in Power Grid Corporation has diluted from 36,99,02,170 to 23,01,82,028 equity shares decreasing its shareholding from 5.303 per cent to 3.3 per cent of the paid-up capital of the said company," LIC said in a regulatory filing. The shares were sold at an average price of Rs 220.40 per share during the period through an open market sale in an ordinary course of transaction, LIC said. State-owned Power Grid is engaged in electric power transmission, telecom and consultancy services. Shares of the country's largest state-owned insurer, LIC, closed at Rs 615.40 apiece on BSE, down

Route One Fund sells 1.54% stake in IndusInd Bank for Rs 1,401 cr

US-based hedge fund Route One Fund I LP on Tuesday divested a 1.54 per cent stake in IndusInd Bank for Rs 1,401 crore through an open market transaction. Route One Fund I LP offloaded 1,20,00,000 shares, amounting to a 1.54 per cent stake in the company, as per the data available with the National Stock Exchange (NSE). The shares were disposed of at an average price of Rs 1,168.26 apiece, taking the transaction value to Rs 1,401.91 crore. Meanwhile, Goldman Sachs Investment (Mauritius) I Ltd picked up over 69 lakh shares of the company. As of the June quarter, Route One Fund I LP held a 2.75 per cent stake in the company, shareholding data showed with the bourse. Shares of IndusInd Bank closed 3.76 per cent lower at Rs 1,164.80 on NSE.

We are open to innovative relationships that come our way: Madison CMD

Nothing is easy in today's world. Being an independent has its own set of challenges, said he

LIC, Centre to sell 60.7% stake in IDBI Bank; DIPAM invites EoIs

DIPAM invites EoIs; last date to submit bids is Dec 16

Quess Corp to sell its stake in Simpliance Technologies for Rs 120 crore

Aparajitha, a Human Resource compliance service firm from Madurai, Tamil Nadu, along with its affiliates would take over a 53 per cent stake in Simpliance from Quess Corp.

Tata Steel announces offloading 19% equity holding in AI Rimal to Tanmia

Tata Steel on Tuesday said it has offloaded 19 per cent stake in Al Rimal Mining LLC, Oman (Al Rimal). With this transaction, the company's shareholding in Al Rimal has come down to 51 per cent from 70 per cent, Tata Steel said in a statement. "Tata Steel, through T S Global Holdings Pte Ltd, has concluded the divestment of its 19 per cent equity stake in AI Rimal to Tanmia on October 3, 2022," it said. T S Global Holdings Pte Ltd (formerly T S Global Mineral Holdings Pte Ltd), is a wholly-owned subsidiary of Tata Steel Limited. According to the statement, T S Global Holdings had entered into an agreement with Oman National Investments Development Company (Tanmia) and the existing shareholders of Al Rimal to transfer its 19 per cent shareholding in Al Rimal to Tanmia. Tata Steel did not disclose the transaction value of the deal.

Individual sells 3.3% stake in Best Agrolife worth Rs 98 cr via open market

An individual on Tuesday sold 3.3 per cent stake in Best Agrolife Ltd for over Rs 98 crore through open market transactions. Raj Kumar offloaded 5,25,000 shares on the NSE and 2,75,000 shares on the BSE, amounting to 3.38 per cent stake in the company, as per the bulk deal data available with the two exchanges. The shares were disposed of at an average price of Rs 1,240.9 apiece on NSE and Rs 1,210.68 per scrip on BSE, taking the combined transaction value to Rs 98.44 crore. Quant Mutual Fund picked up 5 lakh shares of the company on both NSE and BSE. Other buyers were not identified. As of June quarter, Raj Kumar held a 16.57 per cent stake in the company, shareholding data with the bourses showed. Shares of Best Agrolife closed 3.21 per cent higher at Rs 1,249 on NSE and 4.05 per cent up at Rs 1,249.90 on BSE.

Takeover scare for McLeod Russel as Carbon Resources picks up over 5% stake

The would-be acquirer makes non-binding offer to banks to settle the bulk tea producer's dues

Abrdn sells 2% stake in HDFC Life at Rs 574 a share, mops up Rs 2,469 cr

Societe General bought shares worth Rs 469 cr, Integrated Core Strategies bought shares worth Rs 287 cr and Norges Bank bought shares worth Rs 234 cr

HDFC Life Insurance stock settles 1% higher on Abrdn stake sale news

Shares of HDFC Life Insurance Company settled for the day with gains of over 1 per cent after the UK-based investment company Abrdn said it is planning to sell 4.3 crore shares in the private sector insurer through block deal. Abrdn is planning to sell up to 4.3 crore shares, representing 2 per cent of HDFC Life's outstanding shares through a block deal to raise over Rs 2,425 crore. On BSE, HDFC Life stock opened at Rs 601, and touched an intra-day high of Rs 606 and a low of Rs 585.35 during the trading session. The stock finally settled at Rs 586.90, up 1.21 per cent from its previous closing price. At the end of Tuesday's trading session, the market capitalisation of HDFC Life Insurance Company stood at Rs 1,24,027.23 crore. On the NSE, shares of the company opened at Rs 605 apiece, and finally ended the day at Rs 586.50, higher by 1.37 per cent from its previous closing price. The 30-share Sensex rose 455.95 points or 0.76 per cent to close at 60,571.08 points. The broader Ni

KKR seeks advisers to sell stake in Avendus Capital, says report

The private equity titan is close to appointing two banks to manage the formal process for the transaction, the people said, asking not to be named as the information is not public

Gangwal may sell up to 2.8% in IndiGo Airlines for Rs 2,000 cr: Sources

Stake sale being brokered by three investment banks, says another source; Gangwal and his group currently own 36.6% in InterGlobe Aviation, Bhatia's camp owns 38.17%