Page 24 - Stake Sale

Govt to sell up to 25% stake in National Seeds Corp; seeks advisors for IPO

Govt is also looking to appoint up to two merchant bankers who would have handled OFS of at least Rs 1,000 crore, and an IPO of Rs 500 crore in the past three years

Delhi-based SB Packagings gets $25 million investment from Premji Invest

Delhi-based SB Packagings on Thursday said Premji Invest has picked up "significant stake" in the company for $25 million

Shrem Group aims to raise Rs 600 cr by diluting stake in InvIT next week

Shrem Group is targeting to raise Rs 600 crore by diluting a 15 per cent stake in its infrastructure investment trust (InvIT) next week, a top official said on Tuesday.

SoftBank sells 45 mn shares in Uber after Didi bet backfires: Report

Uber shares fell 4.6% at $44 in extended trading before erasing most of its losses.

IL&FS floats EOI from investors for selling 100% stake in wind farm project

Infrastructure Leasing and Financial Services (IL&FS) on Tuesday invited expressions of interest (EOI) from eligible investors for its 100 per cent stake in Ramagiri Renewable Energy Ltd (RREL) and purchase of fixed assets of IL&FS Energy Development Company (IEDCL). IL&FS and its group companies collectively hold 95.54 per cent of the total issued, subscribed and paid-up share capital of IEDCL. RREL is a 100 per cent subsidiary of IEDCL. RREL owns a 6.5 MW wind farm project with 26 wind turbines having a capacity of 250 KW each at Ramagiri, district Anantapur, Andhra Pradesh. IEDCL also owns a wind mast, situated at the wind farm site of RREL, and a solar irradiation measurement equipment mounted on the wind mast (together 'Fixed Assets') that are used for gathering meteorological and solar data respectively. Expressions of Interest (EOI) are invited from eligible applicants for - acquisition of the total issued, subscribed and paid-up shares of RREL and purchase of the ..

Govt to sell 8% stake in Hudco via offer for sale; may get Rs 720 crore

Sale would reduce govt's holding in the firm to 81.81% if it exercises greenshoe option, and offloads entire 8% in the PSU

Reliance Retail buys controlling stake in Just Dial for Rs 5.7k crore

Will acquire 25.33% stake via preferential allotment at Rs 1,022.25 a share, another 15.62% from Just Dial founder V S S Mani. It will later make an open offer for 26% as per Sebi rules

KKR completes stake buy in FOGG brand owner Vini Cosmetics for Rs 4,600 cr

Global investment firm KKR on Thursday said it has completed the Rs 4,600-crore deal to buy a majority stake in deodorant maker Vini Cosmetics.

Marico acquires 60% stake in Apcos Naturals that owns 'Just Herbs'

The stake will be acquired over a period of two years through primary infusion and secondary buy-outs

Thailand's Global Power System acquires 41% stake in Avaada Energy

The acquisition has been made through Global Renewable Synergy Company Ltd, a wholly-owned subsidiary of Global Power Synergy Public Company Limited

CCEA clears LIC disinvestment; FM-led panel to decide quantum of stake sale

The government has already brought in required legislative amendments in the LIC Act for the proposed IPO

Tata go-ahead not needed to pledge shares, says Shapoorji Pallonji Group

Has approached foreign banks for a Rs 5,000-crore bridge loan

NMDC's Rs 3,600-cr share sale fully subscribed, most bids come in at Rs 166

A total of 219.5 mn shares were put on the block by govt;OFS) has garnered bids for 220.45 mn shares from institutional investors--1.15 times the shares on offer to them

Govt to sell up to 7.5% in NMDC via OFS on Tuesday, may get Rs 3,621 cr

Will sell its 4% stake, or 117.2 million shares, at a floor price of Rs 165 each, a near 6% discount to Monday's closing price

UTI Officers' Association moves top court in 26% stake sale case

Bombay HC recently dismissed the case citing delay in filing

Edelweiss Financial Services to sell its 70% stake in insurance broking JV

Edelweiss Financial Services on Friday said it will exit the insurance broking business by selling its 70 per cent stake in Edelweiss Gallagher Insurance Brokers Ltd for Rs 307.60 crore. "The company has entered into an agreement... to divest its entire shareholding (currently 70 per cent) in Edelweiss Gallagher Insurance Brokers Ltd, a subsidiary, engaged in the business of insurance broking to Arthur J Gallagher & Co...," Edelweiss Financial Services said in a regulatory filing. Gallagher, who previously held 30 per cent in the business, will now be acquiring all the remaining shares, taking its stake to 100 per cent, the filing added. The company said, as per the agreement 37,00,000 equity shares of Rs 10 each representing 70 per cent of the paid up share capital of Edelweiss Gallagher Insurance Brokers held by the company to be sold for a consideration of Rs 307.60 crore, in one or more tranches, in the manner as set out in the agreement. In addition to the sale consideration,

Panasonic sells Tesla stake for $3.6 billion, may use cash for investments

The sale comes as the bicycles-to-hair dryers conglomerate is seeking to reduce its dependence on Tesla and raise cash for investing in growth

Panasonic sold its entire stake in Tesla last financial year: Nikkei

Japan's Panasonic Corp sold all of its stake in Tesla Inc last financial year which helped it earn billions of dollars in proceeds to fund new investments, the Nikkei business daily reported

KKR pays Rs 4,600 cr for majority stake in FOGG brand owner Vini Cosmetics

Personal care company's founding members will continue to hold a stake in the business.

HDFC Bank to buy 4.99% stake in HDFC ERGO for Rs 1,906 crore

The bank has been a distribution partner of the insurer since 2009.