Page 9 - Stake Sale

Max Financial Services' promoter sells 3.18% stake for Rs 1,218 cr

Max Ventures Investment Holdings, a promoter entity of Max Financial Services, on Thursday divested a 3.18 per cent stake in the company for Rs 1,218 crore through an open market transaction. Analjit Singh-promoted Max Financial Services Ltd (MFSL), a part of the Max Group, is the holding company for Max Life Insurance. According to the bulk deal data available on the National Stock Exchange (NSE), Max Ventures Investment Holdings sold a total of 1,10,00,000 shares amounting to a 3.18 per cent stake in Noida-based Max Financial Services. The shares were disposed of at an average price of Rs 1,107.37 apiece, taking the transaction value to Rs 1,218.11 crore. After the latest transaction, the combined shareholding of promoters in MFSL has declined to 3.34 per cent from 6.52 per cent. Details of the buyers of Max Financial Services' shares could not be ascertained. Shares of Max Financial Services Ltd fell 1.42 per cent to close at Rs 1,117.25 apiece on the NSE. In August last year

Edelweiss founders divest stake in Nuvama Wealth Management after demerger

Nuvama Wealth Management was listed on the BSE and NSE in September 2023, following the demerger of Edelweiss Financial Services' wealth management business

Premji Invest, Claypond in $125 mn talks for minority stake in Akasa Air

The raised funds are expected to support Akasa Air's expansion plans and cover pre-delivery payments for new aircraft

JK Tyre to invest Rs 1.32 cr to acquire 26% stake in solar energy venture

JK Tyre and Industries is set to invest Rs 1.32 crore for 26% stake in solar power firm Truere Galaxy, that was incorporate less than five months ago

Big overseas buys: Boost for footprint, mixed bag for bottom line

Profitability has been a mixed bag amid operational challenges

ONGC, JSW, Sembcorp shortlisted for majority stake in $800 mn Ayana deal

Ayana Renewable Power, backed by NIIF manages a 5 GW portfolio of operational and under-construction projects. The company is open to sell up to 100% of its stake

Hindustan Zinc dips 4% as Vedanta board okays 2.6% stake sale via OFS

Meanwhile, Hindustan Zinc has dismissed rumours of Rs 6,000 crore worth special dividend.

SBI aims to sell its YES Bank stake worth $2.2 billion by March-end

YES Bank was restructured by the RBI in March 2020 with the help of a consortium of local banks after its financial health deteriorated

Rashtriya Ispat Nigam stake sale plan likely to pick up pace this year

The Centre holds 100% in Visakhapatnam steel plant. RINL is the parent company of Eastern Investments Ltd (EIL), owning 51% in it

Godrej Agrovet signs pact to acquire Tyson's stake in Godrej Tyson Foods

Increases its stake from 51 per cent to 100 per cent

IDBI Bank potential bidders likely to get data room access next week

This will allow interested bidders to obtain detailed financial information about the bank to carry out due diligence

Tata Group drops plan to acquire stake in Vivo India over Apple's objection

Vivo had plans to sell a 51% stake in its Indian subsidiary to the Tata group. But Apple objected, as its devices are currently being produced by the Tata group in Bangalore

Govt to push forward IDBI Bank stake sale after RBI key clearance

The Reserve Bank of India has indicated completion of its fit and proper vetting of potential bidders of IDBI Bank, said Tuhin Kanta Pandey, the country's secretary responsible for the stake sale

ONGC Videsh to pay Equinor $60 million for stake in Caspian Sea oil assets

OVL, overseas investment arm of India's top explorer, will buy 0.615% stake in the oilfield and a 0.737% share in Baku Tbilisi Ceyhan (BTC) pipeline from Equinor, it said in stock exchange filing

IDBI Bank stake sale: RBI vetting process in last leg, report by month-end

The central bank's clearance will be seen as an important milestone for the bank's strategic disinvestment

Investors from West Asia, Japan eying YES Bank's $5 bn stake sale: Report

The Middle Eastern lender is weighing a bid for as much as a 51% stake in Yes Bank, the people said, asking not to be identified as the deliberations are private

YES Bank denies report on 51% stake sale, calls it 'factually incorrect'

The bank called the news report "factually incorrect and purely speculative" in nature

Blackstone Inc in advanced talks to acquire controlling stake in Haldiram's

Blackstone, together with consortium partners Abu Dhabi Investment Authority and Singapore's GIC, have been in discussions for several months with the Agrawal family members based in Delhi and Nagpur

Lufthansa gets EU nod for $350 million stake in Italy's ITA Airways

ITA also offers key long-haul routes to Lufthansa, which has an option to take full ownership if the Italian airline's financial performance improves

Skydance reaches new merger deal to buy controlling stake in Paramount

The news sent Paramount shares up 9 per cent in after-hours trading