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Page 4 - Stake Sale

Adani group's Rs 493 cr open offer for NDTV to start from Tuesday

Adani group's open offer to acquire an additional 26 per cent stake in the media firm New Delhi Television (NDTV) from the market would start from Tuesday. The offer, for which a price band of Rs 294 per share has been fixed, will open on November 22 and closes on December 5, said a notice by JM Financial, the firm managing the offer on behalf of Adani Group firms. Markets regulator Sebi on November 7 granted its approval to the proposed Rs 492.81 crore-open offer. The conglomerate, run by India's richest man Gautam Adani, in August acquired a little-known company that lent over Rs 400 crore to NDTV's founders more than a decade ago in exchange for warrants that allowed the company to acquire a stake of 29.18 per cent in the newsgroup at any time. Post that, VCPL - the firm that the Adani group bought out - announced that it would launch an open offer on October 17 to buy an additional 26 per cent stake from minority shareholders of NDTV. However, the offer was delayed since Sebi h

Adani group's Rs 493 cr open offer for NDTV to start from Tuesday
Updated On : 21 Nov 2022 | 6:19 PM IST

Paytm can slip below Rs 400 if Bears tighten grip; Delhivery may hit Rs 300

Paytm dived over 10 per cent in intraday deals on Thursday amid heavy volume of around 4 million shares. The stock now seems headed to test support at its all-time low of Rs 510.

Paytm can slip below Rs 400 if Bears tighten grip; Delhivery may hit Rs 300
Updated On : 17 Nov 2022 | 2:00 PM IST

SoftBank sells 4.5% stake in Paytm for $200 million, says report

SoftBank's sale of 29.35 million shares at that price amounts to a total consideration of $200 million, according to Reuters calculations

SoftBank sells 4.5% stake in Paytm for $200 million, says report
Updated On : 17 Nov 2022 | 12:39 PM IST

Top headlines: Windfall tax on crude hiked, India's 1st export contraction

Business Standard brings you the top headlines at this hour

Top headlines: Windfall tax on crude hiked, India's 1st export contraction
Updated On : 17 Nov 2022 | 8:23 AM IST

Budget 2023-24: Disinvestment target likely to stay elevated for FY24

The sources said that the government expects over Rs 60,000 crore from the IDBI stake sale.

Budget 2023-24: Disinvestment target likely to stay elevated for FY24
Updated On : 14 Nov 2022 | 11:35 PM IST

Sebi approves Adani's open offer for 26% additional stake in NDTV

Last week, the Adani group had revised the open offer timeline to Nov 22; offer price of Rs 294 a share is at a 24% discount to NDTV's closing price of Rs 365.85 on Monday

Sebi approves Adani's open offer for 26% additional stake in NDTV
Updated On : 14 Nov 2022 | 9:42 PM IST

Tiger Global sells 3.5% stake in PB Fintech for nearly Rs 606 crore

Tiger Global Management on Friday divested 3.5 per cent stake in Policybazar's parent firm PB Fintech for nearly Rs 606 crore through open market transactions. Funds managed by Tiger Global -- Tiger Global Eight Holdings and Internet Fund III Pte -- sold a total of 1,60,56,422 shares, amounting to 3.57 per cent stake in the company, as per bulk deal data available with the National Stock Exchange (NSE) and BSE. The shares were disposed of at an average price of Rs 374.09-Rs 388.34 apiece, taking the transaction value to Rs 605.86 crore. However, buyer(s) of the shares could not be ascertained. As of quarter ended September, Tiger Global through its fund Tiger Global Eight Holdings owned 4.23 per cent and Internet Fund III held 2.87 per cent stake in the company, shareholding data showed with the exchanges. On Friday, shares of PB Fintech closed 6.95 per cent higher at Rs 399.90 on NSE and Rs 399.30 on BSE.

Tiger Global sells 3.5% stake in PB Fintech for nearly Rs 606 crore
Updated On : 11 Nov 2022 | 9:46 PM IST

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

Indian govt to sell 1.55% stake in Axis Bank via offer for sale: SUUTI
Updated On : 10 Nov 2022 | 8:11 AM IST

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 to exit Axis Bank with 1.55% stake sale, expects to garner Rs 4,000 cr
Updated On : 09 Nov 2022 | 10:14 PM IST

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

Govt equity in Vodafone Idea hinges on stock recovery: Indus Towers
Updated On : 30 Oct 2022 | 11:07 PM IST

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

Sebi raises concern over low public float in the lender

IDBI Bank's proposed stake sale likely to run into regulatory hurdle
Updated On : 28 Oct 2022 | 12:16 AM IST

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.

Nomura Singapore sells 1.52% stake in CSB Bank worth Rs 61 crore
Updated On : 25 Oct 2022 | 8:43 PM IST

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.

Sojitz Corp sells 2.83% stake in Samvardhana Motherson for Rs 825 crore
Updated On : 18 Oct 2022 | 9:16 PM IST

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 sells 5.5% stake in Zee for Rs 1,396 cr at Rs 263.7 a share
Updated On : 18 Oct 2022 | 9:03 PM IST

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

Invesco to sell 5.51% stake in Zee Entertainment for over Rs 1,300 cr
Updated On : 18 Oct 2022 | 12:13 AM IST

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

LIC sells over 2% stake in Power Grid for Rs 3,079 crore in 5 months
Updated On : 12 Oct 2022 | 11:17 PM IST

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.

Route One Fund sells 1.54% stake in IndusInd Bank for Rs 1,401 cr
Updated On : 11 Oct 2022 | 8:34 PM IST

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

We are open to innovative relationships that come our way: Madison CMD
Updated On : 08 Oct 2022 | 8:12 AM IST

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

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

LIC, Centre to sell 60.7% stake in IDBI Bank; DIPAM invites EoIs
Updated On : 07 Oct 2022 | 10:55 PM IST

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.

Quess Corp to sell its stake in Simpliance Technologies for Rs 120 crore
Updated On : 07 Oct 2022 | 12:29 AM IST