Tag: stake

Dabur India stock falls 3% after promoters sell stake

Dabur India stock falls 3% after promoters sell stake
Tuesday, December 20, 2022
Shares of Dabur India dropped 3 percent to Rs 570.80 on the BSE in Tuesday's intra-day trade after promoters of the FMCG firm sold their stake in block deals today. As per reports, 1.9 crore shares changed hands at an average price of ₹571 apiece, aggregating to ₹1,089 crores. Earlier, reports said the company's promoters were looking to sell shares worth ₹800 crores via a block deal. As of September-end, the Burman family together held a 67.24% stake in Dabur NSE -1.62 % India. The public shareholders held the remaining 32.76 percent of the shares. The stock began the trading session at ₹576.10 apiece compared to the previous closing price of ₹589.05 and dipped further to hit an intraday low of ₹569.55, 3.31 percent lower. The share hit a 52-week high of Rs 610 on December 7, 2022, and a 52-week low of Rs 482.20 on June 17, 2022. Read more

HDFC AMC gains 4.6% as promoter abrdn plans to sell entire 10.2% stake

HDFC AMC gains 4.6% as promoter abrdn plans to sell entire 10.2% stake
Wednesday, December 7, 2022
Shares of HDFC Asset Management Co Ltd. (HDFC AMC) jumped as much as 4.6 percent to Rs. 2295 in intra-day trade on Wednesday after the company announced that one of its promoters plans to sell its entire stake in the firm. The company is in receipt of a letter from abrdn Investment Management, one of the promoters holding 10.21 percent of the paid-up share capital of the company, intimating their intention to sell the entire stake in the Company subject to applicable regulatory provisions," HDFC AMC said. Consequent to the stake sale, the investment firm, and promoter abrdn Investment Management will cease to be a co-sponsor of HDFC Mutual Fund, the company said in a BSE filing. Of the 10.21 percent stake, abrdn Investment is looking to place up to 2,11,18,578 shares, amounting to 9.9 percent with a single buyer, and the rest being sold separately. Read more

PNB shares gains 8 percent on govt's nod to divest stake in UTI AMC

PNB shares gains 8 percent on govt's nod to divest stake in UTI AMC
Friday, November 25, 2022
Shares of Punjab National Bank the country’s second-largest public sector bank surged 8 percent to hit a 21-month high of Rs 54.90 per share in Friday’s intra-day trade after the state-owned lender received the government’s approval to divest its entire stake in UTI Asset Management Company (AMC). PNB owned a 15.22 percent stake in UTI Asset Management Company as of September 30. That stake is valued at Rs 1,394.52 crore today, following a 7.36 percent rise in the AMC stock. The AMC stock hit a high of Rs 740.15 on BSE today. "The Exchange is hereby informed that the Bank has received approval of DIPAM, Ministry of Finance, Government of India for divestment of Bank's entire/part stake in UTI Asset Management Company Limited in single or multiple tranches subject to compliance of SEBI Regulations/other applicable regulatory guidelines," the bank said in a regulatory filing. The timeline for making the divestment is yet to be finalized, the bank said. Read more

Advanced Enzyme surges 12% as Nalanda India Equity Fund ups stake by 3%

Advanced Enzyme surges 12% as Nalanda India Equity Fund ups stake by 3%
Tuesday, September 20, 2022
Shares of enzymes manufacturer Advanced Enzyme Technologies Ltd. jumped 12 percent to Rs 298 on the National Stock Exchange (NSE) on Tuesday's intraday, the most since February this year after Nalanda India Equity Fund increased its stake in the company. On September 20, 2022, Nalanda India Equity Fund purchased 2.91 million equity shares, representing a 2.6 percent stake in Advanced Enzyme Technologies, worth Rs 78.62 crore via block deal, NSE data shows. The sellers in this transaction were the company's promoters, who sold 25.7 lakh shares or 2.5 percent of the total equity. As of the quarter ended June, promoters held a 52.7 percent stake in the company. Nalanda India Equity Fund has been consistently increasing its stake in the company as evident from the data. As of the June quarter, the fund held a 6.2 percent stake in the company worth nearly Rs 200 crore. It had increased its stake in the March quarter this year to 6.1 percent from 4.7 percent last year. Read more

PVR slips 5% after mega block deals

PVR slips 5% after mega block deals
Thursday, September 15, 2022
Shares of PVR dropped 5 percent to Rs 1,838 on the BSE in Thursday’s intra-day trade, after investors offloaded a 9 percent stake in the company via a block deal on Thursday. The investors who sold stakes in the company were - Multiples PE, Gray Birch, Plenty PE, and Berry Invt, the news channel reported. As per June 2022 shareholding pattern, Gray Brich Investment held 2.2 million (3.6 percent), while Plenty Private Equity FII held a 1.52 million (2.5 percent) stake in PVR. combined 10.25 million equity shares, representing 16.78 percent of the total equity of PVR, changed hands on the NSE and BSE, data shows. With Thursday’s decline, the stock corrected 17 percent, from its 52-week high level of Rs 2,211.55, that it had touched on August 4, 2022. The stock had been gaining after massive earnings from the movie Brahmastra. Read more

Bharti Airtel jumps 2% after Google buys 1.2% stake in Bharti Airtel for $700 million

Bharti Airtel jumps 2% after Google buys 1.2% stake in Bharti Airtel for $700 million
Friday, July 15, 2022
Shares of Bharti Airtel climbed nearly 2 percent on July 15 after the company said it is allotting 7.11 crore shares to Google on a preferential basis. The allotment is part of Google's commitment to invest $1 billion with Airtel, which included equity investment in the company worth $700 million, about Rs 5,224 crore, while the remaining $300 million will be invested through commercial agreements over the next five years, which include investments in scaling Airtel's offerings that cover a range of devices to consumers via innovative affordability programs. .“The ‘special committee of directors for preferential allotment of the company has approved the allotment of 71,176,839 equity shares of the face value of ₹5 each fully paid up, on a preferential basis to Google International LLC (Google) at an issue price of ₹734 per equity share (including a premium of ₹729 per equity share)," the carrier said in a note to BSE on Thursday. Read more

LIC gets RBI's nod to increase stake in Kotak Mahindra Bank

LIC gets RBI's nod to increase stake in Kotak Mahindra Bank
Monday, November 29, 2021
Private lender Kotak Mahindra Bank today ( November 29 )said that Life Insurance Corporation (LIC) has received approval from the Reserve Bank of India (RBI) to increase its stake in the Bank up to 9.99%. The approval is valid for a period of one year, the bank said. Currently, the life insurer holds 4.96 per cent in the private lender.As per RBI norms, prior approval of the RBI is required to increase stake in private banks beyond 5 per cent."We wish to inform you that Kotak Mahindra Bank Limited ("Bank") has received an intimation from Life Insurance Corporation of India ("LIC") stating that the Reserve Bank of India had granted its approval to UC, for increasing its holding in the Bank up to 9.99% of the paid up equity share capital of Bank," Kotak said in an exchange filing. LIC is one of the biggest institutional investors in India’s stock market and has stakes in a number of private and public sector banks. It also holds 49.24 per cent stake in IDBI Bank. Read more

Escorts hits 52 week high as Japan's Kubota to raise stake

Escorts hits 52 week high as Japan's Kubota to raise stake
Thursday, November 18, 2021
Shares of Tractor and farm equipment maker Escorts Ltd touched a 52-week high of Rs 1,793.15, rising 9 percent intraday on November 18 after Japan-based Kubota Corporation acquired a stake in the company. Kubota Corporation announced that Kubota and Escorts Limited (EL) have reached an agreement under which Kubota will increase its shareholding in EL by March 31, 2022, by means of subscription to third-party preferential primary share allotment and open offer bid. According to a release issued by Escorts to the BSE, the company has raised Rs 1,872.74 crore by way of preferential issue of 96.64 lakh equity shares to Kubota at Rs 2,000 per share. In addition, Kubota will make an open offer at a preferential allotment price of Rs 7500 crore. Kubota corporation holds 9.09% stake in the company as of September 2021. Post preferential allotment, the Japanese partner's investment in the company be 14.99%, it said. Read more

Rakesh Jhujhunwala ups stake in Tata Motors DVR

Rakesh Jhujhunwala ups stake in Tata Motors DVR
Thursday, October 21, 2021
Ace investor Rakesh Jhujhunwala has bought an additional 10 million equity shares in Tata Motors DVR in July-September (Q2FY22), increasing his stake in the Tata Group company to 3.93 percent in Q2 from 1.97 percent at the end of June quarter (Q1), according to the shareholding pattern filed by the company. As per the data, Rakesh Radheshyam Jhunjhunwala held a 2.70 percent stake or 13.75 million equity shares in Tata Motors DVR in Q2, as against a 1.97 percent stake (10 million shares) in the previous quarter. The ace investor has purchased a 1.23 percent stake or 6.25 million shares in name of Rakesh Jhujhunwala during the quarter, against nil or below 1 percent holding in the previous quarter, data shows. CLICK HERE FOR DETAILS Differential Voting Rights (DVR) shares are shares that are permitted to be issued with differential voting and differential dividend rights. Read more

SBI Life hits new high as Carlyle Asia Partners arm mulls exiting firm

SBI Life hits new high as Carlyle Asia Partners arm mulls exiting firm
Thursday, August 5, 2021
Shares of SBI Life Insurance Company rallied 3 percent and hit a record high of Rs 1,174, on the BSE in intra-day trade on Thursday after US private equity fund CA Emerald Investments, an affiliate of Carlyle Asia Partners, offloaded its entire 1.9 percent stake in the company via multiple block deals. The stock of the life insurer surpassed its previous high of Rs 1,147.95 touched on July 29, 2021. The price range for the share sale has been set at Rs 1,130-Rs 1,136.85, according to the data available. The upper end is SBI Life’s closing price on the BSE on Wednesday. At the lower end, Carlyle will be able to raise Rs 2,147 crore. BofA Securities India is the investment bank handling the share sale. The stock witnessed a surge in volumes and was trading with volumes of 19,157,312 shares, compared to its five-day average of 55,029 shares, an increase of 34,713.37 percent. Read more

Info Edge shares down 5 percent ahead of Zomato IPO launch from July 14-16

Info Edge shares down 5 percent ahead of Zomato IPO launch from July 14-16
Tuesday, July 13, 2021
Shares of Info Edge (India) fell almost 5 percent to Rs 5138.15 per share in intraday trade on BSE on July 13 a day ahead of the Zomato IPO's opening for the public subscription.Info Edge holds a stake of about 18.55 percent in the food delivery platform. The share sale comprises a fresh issue of shares worth Rs 375 crore and an offer for sale of Rs 9,000 crore by its current promoter Info Edge India Ltd. Total of 65 lakh shares have been reserved for employees of the company. Zomato is all set to begin its listing journey on exchanges with an initial public offer (IPO) launch from July 14, 2021, which will be open for the next three days till July 16, 2021. The Rs 9375 crore IPO has a price range of Rs 72-76 per share.

Thyrocare Technologies fell 9.1 percent as PharmaEasy offers to acquire 66% stake

Thyrocare Technologies fell 9.1 percent as PharmaEasy offers to acquire 66% stake
Monday, June 28, 2021
Shares of Thyrocare Technologies dipped 9.1 per cent to Rs 1,317on the BSE in Monday's intra-day after digital healthcare company Pharmeasy announced that it would buy a controlling stake in the diagnostic chain for Rs 4,546 crore.The Delhi-based company would buy 66.1 per cent stake in Thyrocare from promoter A Velumani and his affiliates at Rs 1,300 per share. Dr A Velumani, the founder of Thyrocare, will be separately acquiring a minority non-controlling stake, of less than 5 percent in API Holdings as part of a series of equity investments by existing and new investors of API, the statement added.The proposed deal shocked investors as the deal price was 11% lower than the stock price of the firm.This would be the first ever acquisition of a listed company, by an Indian unicorn, the companies said in a joint statement. "It is the third big-ticket transaction involving an e-pharmacy company," they said.The stock price has surged over 176 percent in last 1 year. Read more

Newgen Software shares hit 52-week high after promoters sell 10.57% stake

Newgen Software shares hit 52-week high after promoters sell 10.57% stake
Wednesday, June 16, 2021
Shares of Newgen Software Technologies hit a 52 week high, surging 4 percent to Rs 519.45, on the BSE in Wednesday's intra-day deals after the promoters sold their 10.57 percent stake in the company via open market on Tuesday. Three promoters of Newgen Software Technologies Ltd on Tuesday offloaded shares worth over Rs 335 crore of the firm which represents a 10.57 percent equity stake in the Company through open market transactions. The aforesaid stake in the Company was sold at an average price of approximately Rs 454 per equity share, which was at a marginal discount to the closing price of the stock on NSE on June 14, 2021, of Rs 458.3 per equity share, it said. Read more

IDBI Bank gains 11 per cent on divestment proposal

IDBI Bank gains 11 per cent on divestment proposal
Tuesday, April 13, 2021
Shares of IDBI Bank jumped 10.6 per cent to hit an intra-day high of Rs 37.4 on the BSE on Tuesday after a Business Standard report stated that the Cabinet will soon consider the proposal to sell the government’s 45.5 per cent stake in the company, paving the way for strategic divestment in the lender. The cabinet approval will give the Department of Investment and Public Asset Management (DIPAM) the authority to move ahead with the divestment process,. The government had planned to sell its balance stake in IDBI Bank to private, retail, and institutional investors through the stock exchange in the last financial year. However, the pandemic delayed the plan, which the government intends to complete this year."DIPAM cannot move forward with the divestment process until approval from the cabinet is received, given that banks come under work allocation of the DFS. After the cabinet's approval, intermediaries can be appointed," an official told Business Standard.

IRCTC tanks 13 per cent as govt to sell 20% stake via OFS

IRCTC tanks 13 per cent as govt to sell 20% stake via OFS
Thursday, December 10, 2020
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) slipped 13 per cent to Rs 1,405 on the BSE on Thursday as the government will sell up to 20 per cent stake in Indian Railway Catering and Tourism Corporation through an offer for sale which opens for subscription today for non-retail investors and will open tomorrow for retail investors. The floor price for the offer shall be Rs 1,367 per share, a 16 per cent discount to Wednesday’s closing price of Rs 1,618 on the BSE. The government would divest 15 per cent equity with a 5 per cent greenshoe option. The promoter proposes to sell up to 24 million equity shares of IRCTC, representing up to 15 per cent stake, with an option to additionally sell 8 million shares, representing 5 per cent of the total issued and paid-up equity share capital”, the company said in a regulatory filing. Read more

Ant considers Paytm stake sale Amid tensions between the two Asian neighbours

Ant considers Paytm stake sale Amid tensions between the two Asian neighbours
Wednesday, December 2, 2020
Amid tensions between the two Asian neighbours and a toughening competitive landscape, Chinese fintech giant Ant Group is considering selling its 30 percent stake in Indian digital payment processor Paytm according to some sources. Financial details of the possible transaction have not been firmed up and Ant, the Alibaba-backed payments-to-consumer credit behemoth, has not launched a formal sale process yet. Paytm, which is also backed by SoftBank Group Corp among others, was valued at about $16 billion during its latest private fundraising round a year ago. At that valuation, Ant’s stake in the Indian firm is worth about $4.8 billion.

Advanced Enzyme stock gains 33% in 2 days as Nalanda India picks up stake

Advanced Enzyme stock gains 33% in 2 days as Nalanda India picks up stake
Friday, September 25, 2020
Shares of agricultural products company Advanced Enzyme Technologies rallied 13 per cent to Rs 317 on the National Stock Exchange (NSE) in the early morning trade on Friday touching new 52 weeks high and surging over 33 per cent in the last 2 days, after foreign portfolio investor (FPI) bought nearly 4 per cent stake in the company via the open market. Nalanda India Equity Fund has bought 41,90,491 equity shares in Advanced Enzyme Technologies (representing 3.75 per cent of the total paid-up equity) for Rs 111 crore, at Rs 263.8 per share. Advanced Vital Enzymes Private Limited sold 3 million equity shares at a price of Rs 265 per share on the NSE. Advanced Enzyme Technologies in annual report 2019-20 said it may benefit from an increase in healthcare spending in the US and India. The US has the highest health spending in the world and it is drastically moving towards the usage of human healthcare enzymes and Probiotics. Read more

RIL share price hits all-time high as Co to sell 1.6% stake in Jio to ADIA

RIL share price hits all-time high as Co to sell 1.6% stake in Jio to ADIA
Monday, June 8, 2020
Reliance Industries share price climbed a new peak on BSE in Monday’s session as it gained 2.7 per cent to Rs 1,624 a day after the oil-to-telecom behemoth announced 1.16 per cent stake sale in Jio Platforms, its digital services subsidiary, to Abu Dhabi Investment Authority (ADIA) for Rs 5,683.50 crore, as it accelerates its debt reduction plan. RIL shares have surged 87 per cent from its 52-week low of Rs 867.82 touched on March 23. This is the eighth investment in Jio Platforms in seven weeks and values the company at Rs 4.91 trillion on equity value basis. So far, RIL has raised Rs 97,885.65 crore through 21.06 per cent stake sale to seven marquee investors, including Facebook and private equity firms like KKR, Vista Equity Partners, Mubadala and General Atlantic. Besides, US private equity firm Silver Lake also announced an additional investment of Rs 4,546.80 crore in the telecommunications arm of Reliance Industries Ltd. Read more

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