STAKE SALE
Temasek arm pares 1.4% stake in Godrej Agrovet for over Rs 212 crore
V-Sciences Investments, part of Temasek Holdings, sold a 1.4 per cent stake in Godrej Agrovet for over Rs 212 crore through an open market transaction. The sale involved 27.10 lakh shares at an average price of Rs 785.13 each. This reduces V-Sciences' holding in the company to 6.36 per cent from 7.77 per cent.
Yes Bank's stake sale runs into RBI hurdle
In March 2020, a State Bank of India-led consortium bailed out Yes Bank by infusing Rs 10,000 crore-a move primarily aimed at protecting depositors. SBI, which acquired a 49% stake with a three-year lock-in, now holds 24% after Yes Bank raised money through a follow-on public issue and the preferential issue of shares to private equity investors Carlyle and Advent International.
Berkshire Hathaway's Ajit Jain sells more than half his stake in co for $139 million: Report
Berkshire Hathaway's Vice Chairman Ajit Jain has sold more than half of his stake in the company, garnering $139 million, according to a media report.
Japanese bank SMBC's plan to buy stake in Yes Bank hits RBI wall: Report
Yes Bank's stake sale is now unlikely to happen in FY25 and may get delayed, ET Now reported, citing sources. SMBC has shown strong interest in acquiring a 51% stake in Yes Bank and the talks have stalled because of its insistence on 51% ownership, the report said
Mamaearth shares tumble 5% after Rs 1,763 crore stake sale via block deal
Honasa Consumer Share Price: Shares of Honasa Consumer, the parent company of Mamaearth, fell 5% to a day’s low of Rs 495 on the NSE following a block deal on Thursday involving a 10.9% equity stake valued at Rs 1,763 crore. The likely sellers include Peak XV Partners Investments VI, Redwood Trust, Sequoia Capital Global Growth Fund III, Fireside Ventures Investment Fund I, Stellaris Venture Partners India, and Sofina Ventures SA.
Promoter entity Proximus Opal to sell 6% stake in Route Mobile via OFS; floor price set at Rs 1,635/share
The upcoming share sale starts on Thursday for non-retail investors, with retail investors getting their chance on Friday. Proximus Opal currently holds a majority stake in Route Mobile. This offering aims to comply with SEBI's regulations on minimum public shareholding.
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17 stocks where FII are increasing stake & DII are reducing stake. Who will be proven right ?
There has been a lot of talk about foreign institutional investors ( FII ) or foreign portfolio investors ( FPI) as they officially called being net sellers in India markets. The numbers tell a different story, if one looks at overall numbers except for calendar year 2022, where they have been net sellers, FPIs have been investing in India. In 2023 and in 2024 as on date, they have been net buyers. So, there is a difference in perception and reality. Now the question is where is the FPI money going and is the DII money which surely has seen a rise thanks to SIP flows into mutual funds is also going in the same direction where the FII money is going. We looked at a set of stocks and change in shareholding for the last three years and there are X stocks where FPI have been buyers, increasing their stake and DII have been reducing their stake. Now this could be for many reasons, but who will be proven right, FII or DII.
SpiceJet is struggling to defy gravity. What are the odds?
SpiceJet, once a leading airline, is grappling with severe financial distress. Grounded aircraft, unpaid dues, and a dwindling market share have exacerbated its troubles. Promoter Ajay Singh is attempting to raise funds through various means to revive operations and settle liabilities, but challenges persist.
Indigo Paints shares drop 6% after Rs 180-crore stake sale via block deal
Shares of Indigo Paints fell by 5.7% to a low of Rs 1,452.10 on the BSE during early trading today. This decline followed a block deal estimated at Rs 179.2 crore, representing 2.5% of the company’s equity, at a price of Rs 1,493 per share. Reportedly, 1.2 crore shares were traded in the transaction, with Peak XV Partners Investments (formerly Sequoia India) likely being the seller.
General Insurance stake sale: Govt likely to earn Rs 4,700 crore from 6.8% divestment in GIC Re
The government is set to sell a 6.8% stake in General Insurance Corporation of India (GIC Re) through an offer-for-sale, priced at Rs 395 per share. This move aims to raise around Rs 4,700 crore and contribute to the disinvestment fund. The sale will be conducted over two days for different investor categories.
Troubled Tork Motors, backed by Ratan Tata and Bhavish Aggarwal, looking at stake sale to revive operations
The Pune-based electric motorcycle startup--backed by Ratan Tata, Bharat Forge and Ola's Bhavish Aggarwal--has sent out buyout proposals to two-wheeler companies including Kinetic Green, Hero MotoCorp, and TVS Motor Company for the potential deal, said people familiar with the matter. These companies said they are studying the proposals and would decide shortly.
Govt to sell 6.78% stake in GIC Re via OFS, sets floor price at Rs 395/share
The issue, estimated at Rs 4,701 crore, opens for non-retail investors on Wednesday and for retail investors on Thursday. Employees can subscribe to 50,000 shares.
Bajaj Housing Finance could look at strategic investor mix post IPO
Bajaj Housing Finance, set to launch a ₹6,560-crore IPO next week, is open to selling stakes to strategic investors. Promoters plan to dilute stakes in phases to comply with listing norms, starting with a 10-11% stake via this IPO. The company, established in 2017, has grown rapidly, reaching assets over ₹90,000 crore by March 2024.
IndiGo bulk deals effect: FTSE raises weight, MSCI may follow suit
Following the sale of a 5.83% stake by promoter Rakesh Gangwal, global indices have increased IndiGo's weightage, predicting notable inflows. After the sell-off, Gangwal's stake in IndiGo decreased significantly. The airline is expanding operations and introducing business class seats by November and wide-body planes by 2027.
Foreign lenders lured by rare stake sales in India banks, but tighter rules weigh
Foreign banks from Japan and the Middle East are showing interest in acquiring stakes in Yes Bank and IDBI Bank. The Indian economy's rapid growth is a major attraction, although tight regulations and high valuations could be challenging. The deals, if successful, would mark a significant move in India's banking sector.
Rakesh Gangwal to sell $804 million worth IndiGo stake through block deal: Report
Rakesh Gangwal, co-founder of InterGlobe Aviation, plans to sell up to $804 million in shares via a block deal, with a floor price of Rs 4,593 each, a 5.5% discount to the current market price. This move follows his previous stake reduction and Shobha Gangwal’s exit.
Foreign lenders lured by rare stake sales in India banks, but tighter rules weigh
Foreign banks from Japan and the Middle East are eyeing majority stakes in India's Yes Bank and IDBI Bank, as existing investors look to divest. Yes Bank has attracted interest from Sumitomo Mitsui Banking Corp and Emirates NBD, while IDBI Bank has seen interest from Fairfax Group and Kotak Mahindra Bank.
Nykaa shares rise 4% after 1.4% stake sale via block deal
Shares of FSN E-Commerce Ventures, Nykaa's parent company, rose 4% after Harindarpal Singh Banga and Indra Banga sold a 1.4% stake. The sale price was Rs 198 per share, a discount from Thursday's closing. Nykaa's shares have shown significant gains, rising by 23% this year and 60% over the past 12 months.
Asia Opportunities V sells 3% stake in PNB Housing for Rs 676 crore
At the same time, the Singapore government bought a total of 16,59,784 shares, or 0.64 per cent stake, in the state-owned Punjab National Bank arm at an average price of Rs 866.05 apiece on the BSE.
Morgan Stanley buys a piece of Cyient DLM as promoter Cyient trims stake in Rs 879-crore bulk deal
Cyient Ltd sold 14.5% of its subsidiary Cyient DLM, raising Rs 879 crore. Major investors like Morgan Stanley and HDFC Mutual Fund acquired the stake. Funds raised will support the semiconductor business and debt repayment.
KKR to offload 17% stake in InvIT Indigrid
U.S. private equity firm KKR's affiliate, Esoteric, will sell a 17.3% stake in India Grid Trust (IndiGrid) for $213.6 million, the Indian investment firm said on Wednesday.
Walmart seeks to raise up to $3.74 billion in sale of JD. com stake: report
Walmart is offering 144.5 million shares in the price range of $24.85 to $25.85, the report said, adding that Morgan Stanley is the broker-dealer of the offering. Walmart is the largest shareholder of JD. com and owns a 5.19% stake in the e-commerce company, according to LSEG data.
Ant Group nets 4X return on investment in Zomato after latest part stake sale
On an investment of Rs 3,246 crore in the Gurugram-based food delivery firm, the Chinese ecommerce giant Alibaba’s affiliate has pocketed Rs 12,521 crore till now, with another Rs 4,955 crore worth of shares still being held by it.
GE T&D India promoters mulling minority stake sale
GE T&D India's promoters, GE Grid Alliance B.V. and Grid Equipments Pvt. Ltd., announced a review of their shareholding structure, hinting at a possible minority stake sale but intending to retain majority control.
Stake sale in Hindustan Zinc to boost funds with Vedanta for debt repayment, capex
Vedanta Ltd's board approved selling a 3.31% stake in Hindustan Zinc Ltd, worth over Rs 8,000 crore, will enhance funds for debt repayment and capital spending. The sale reduces Vedanta’s stake in HZL to 61.61%. This move is credit positive for Vedanta Resources Ltd's creditors but will lower future dividends from HZL.
Vedanta to sell 3.31% stake in Hindustan Zinc
Vedanta announced it will offload up to 3.31% stake in Hindustan Zinc, totaling 140 million shares, at a floor price of ₹486 per share. The offer-for-sale will be conducted on Friday and Monday. Proceeds will be used for growth and optimizing the capital structure, according to the exchange filing.
Vedanta to sell 2.6% stake in Hindustan Zinc via OFS
The Metals and mining major held a 64.92% stake in HZL as of the June quarter, with the government owning 29.54%. The proceeds will help Vedanta reduce its debt. As of March 2024, Vedanta's gross debt was ₹71,759 crore and net debt at ₹56,338 crore. The company held cash and equivalents of ₹15,421 crore. FY24 finance costs rose to ₹9,465 crore from ₹6,225 crore, driven by increased borrowings and higher interest rates.
IDBI Bank sells distressed Rs 6151 cr portfolio to Omkara ARC
At inter-se bidding held on Saturday (August 3), Omkara ARC gave the highest offer of Rs 652 crore, outbidding government-promoted National Asset Reconstruction Company Ltd (NARCL). For IDBI Bank, the distressed portfolio sale equates to a recovery of 10.5%, which will be reflected in its second-quarter earnings.
Radhakishan Damani offloads 1.7% stake in VST Industries, takes home Rs 107 crore
Among the public shareholders, Damani held about 34.66% in the company. Damani raised stake in VST Industries during the June quarter by 2%. At the end of March quarter, the investor had held about 32.7% in the company, according to data from Trendlyne.
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