Page 3 - Stake Sale

Dabur India promoters sell 1% stake through block deal to finance ventures

" The purpose of doing this transaction is to raise funds for financing some ventures in the private hands of the Burman family," the exchange filing said

Tata in talks to buy majority stake in UTI AMC from 4 PSU finance entities

If the deal goes through, Tata AMC and UTI AMC's combined entity could become the fourth-largest asset manager in India

GMM Pfaudler falls over 18% on report of promoter selling bulk stake

Shares of GMM Pfaudler fell as much as 18.1%, their worst intraday percentage fall in nearly five years, after a report said that one of its promoters will sell the bulk of its stake

Shriram Pistons to acquire majority stake in EMFi to foray into EV space

Auto component maker Shriram Pistons & Rings on Friday said its unit will acquire a majority stake in electric motor design and manufacturing firm EMF Innovations to foray into the electric vehicle mobility space. SPR Engenious Ltd (SEL), a wholly-owned subsidiary of the company, is slated to acquire the stake. The financial details of the deal were not disclosed. EMF Innovations (EMFI) is co-founded by engineering entrepreneurs with substantial R&D and operations in India and Singapore. Shriram Pistons & Rings (SPRL) Managing Director & CEO Krishnakumar Srinivasan said that with this strategic investment, the company aims to expand its presence in electric vehicle (EV) space to supply electric powertrain components, such as motor and controller, covering all the vehicle segments from two-wheelers, three-wheelers, passenger vehicles and commercial vehicles. The alliance will also offer the potential for SPRL (through SEL) and EMFI to collaborate and partner to serve ...

IRCTC offer for sale oversubscribed, but stock declines more than 6%

Investors fear supply overhang; Centre has now reduced stake in firm by 25% in 3 years

Govt's share sale in IRCTC over-subscribed, investors bid for Rs 3,800 cr

The sale of government's up to 5 per cent stake in IRCTC got over-subscribed on the first day of the offer, with institutional investors putting in bids worth Rs 3,800 crore. In the two-day offer-for-sale (OFS), the government is selling 4 crore shares or 5 per cent stake in Indian Railway Catering and Tourism Corporation (IRCTC) at a floor price of Rs 680 a share. The OFS consists of base issue size of 2 crore shares or 2.5 per cent stake, with an option to retain over-subscription of similar amount. As much as 10 per cent of the issue is reserved for retail investors, for whom bidding would open on Friday. On Thursday, bids for over 5.55 crore shares, representing 3.08 times the base issue size of 1.80 crore shares were put in by institutional investors. Calculated on the basis of the floor price, the bids would be valued at about Rs 3,800 crore. Shares of IRCTC settled at Rs 689.20 apiece, down 6.19 per cent over the previous close on the BSE. During the day, the scrip touched

IRCTC dips 5% after government sets OFS floor price at steep discount

The floor price for the OFS was set at Rs 680, a 7.4 per cent discount to Wednesday's closing price of Rs 734.70.

Centre to sell up to 5% stake in IRCTC via OFS to garner Rs 2,720 crore

Floor price fixed at Rs 680/share, an over 7% discount to Wednesday closing price

DIPAM extends last date for submission of EoI for IDBI stake sale

Consortium of foreign funds, investment companies will be allowed to own over 51% of IDBI Bank

Tata Motors to partially sell stake in subsidiary Tata Tech via IPO

The offering could be Tata group's first since listing of TCS in 2004

Govt to check foreign fund appetite in Hindustan Zinc before stake dilution

The government will assess the appetite of large foreign funds in Hindustan Zinc before taking a decision on the timing of dilution of its minority equity stake in the Anil Agarwal-owned metal company, an official has said. The government currently holds a 29.54 per cent stake in HZL, while a 5.54 per cent stake is with public shareholders. Mining mogul Anil Agarwal's Vedanta Ltd is the promoter with a 64.92 per cent stake in HZL. The Cabinet Committee on Economic Affairs (CCEA) approved the sale of 124.79 crore shares or 29.54 per cent stake the government holds in the zinc producer. At the current price of Rs 316 a share, a 29.54 per cent stake would fetch about Rs 39,000 crore to the government. The official said since public float is only about 5 per cent, it would not be feasible for big investors, who put in lump sum funds in the company, as share availability in the market is limited. "Merchant bankers will first assess the interest of large fund houses in HZL. Once we get

Macrotech Developers' promoters plan to raise Rs 3,500 crore via share sale

Realty firm Macrotech Developers' promoters plan to raise about Rs 3,500 crore by selling shares to institutional investors, according to sources. Mumbai-based Macrotech Developers sells its properties under the Lodha brand. In a regulatory filing late on Wednesday, Macrotech Developers informed that the company has launched Qualified Institutional Placement (QIP) of the equity shares. The QIP consists of an offer-for-sale (OFS) of shares by promoter group entities -- Sambhavnath Trust, Sambhavnath Infrabuild and Farms Pvt Ltd, Hightown Constructions Pvt Ltd and Homecraft Developers and Farms Pvt Ltd. The promoters are selling shares for the purpose of achieving minimum public shareholding, the filing said. As on September 2022, promoters had 82.20 per cent stake in the company and they need to bring it down to 75 per cent in order to maintain the minimum 25 per cent public shareholding. Macrotech informed that the floor price has been fixed at Rs 1,022.75 per share but did not .

Abrdn stake sale to boost passive flows in HDFC AMC, say analysts

Deal could add to asset manager's investability weight in MSCI and FTSE indices, lead to higher foreign inclusion factor, they say

Strong interest: DIPAM receives as many as 167 queries about IDBI sale

9-10 serious bidders seek clarity on the expression of interest

Jindal Stainless surges 16% in two days after Quant MF buys 2.6 mn shares

On December 6, Quant Mutual Fund - Small Cap Fund purchased 2.63 million shares representing 0.52 per cent of the total equity of Jindal Stainless at Rs 182.97 apiece on the NSE.

HDFC AMC gains 3% as promoter abrdn plans to sell entire 10.2% stake

abrdn Investment Management is to place up to 21.12 million shares (i.e. 9.9 per cent) with a single buyer with the rest being sold separately, subject to feasibility.

Govt clarifies foreign funds can own over 51% stake in IDBI Bank

This comes ahead of the December 16 deadline for potential bidders to submit EoIs for picking up majority stake in the private sector lender

Softbank halves stake in Policy Bazaar parent, mops up Rs 1,043 crore

Sells 22.84 million shares, or 5.08% stake, at Rs 456.4 apiece; 30 institutional investors among buyers

Aditya Birla Group led incubator buys majority stake in 8 lifestyle brands

With these eight brands on board, TMRW has achieved a revenue run-rate of over Rs 700 crore and is on a path to cross an annual revenue rate of Rs 1,500 crore in the next 12 months

Sukoon Healthcare secures $15 mn from Lightrock for a majority stake

The in-patient psychiatric facility Sukoon Healthcare has secured USD 15 million (about Rs 120 crore) investment from Lightrock India for a majority stake in the hospital. The Gurugram-based hospital in a statement on Wednesday claimed that the investment is the largest in the domestic mental health space so far and will help it create a large therapeutic behavioural health platform. Sukoon -- which delivers evidence-based, globally accredited care and treatment to mental patients -- said it will use the money to scale to multiple locations, expand specialist services and work with other providers. Various estimates put the number of people who suffer from mental health issues at around 200 million, and of them, at least 1 per cent require inpatient treatment. But, there is a severe shortage of specialists to provide care, with only around 10,000 psychiatrists and 1,000 clinical psychologists available in the country today. Founded by Vidit Bahri and Kanishk Gupta in February 2020,