The board of Zee Entertainment has approved the issuance of up to 24.95 crore fully convertible warrants to the promoter entity, Sunbright Mauritius Investments at an issue price of Rs 126 apiece, taking the total fund raise to ₹3,143.52 crore. In line with the regulations, 25% (Rs 31.5/ share, Rs 786 cr) will be payable … Read more
Edelweiss Financial Services (EFSL) is divesting majority of it’s stake in the Home Finance Business. The subject business is currently under Nido Home Finance Limited (Nido), a wholly-owned subsidiary of EFSL. EFSL is divesting 73% stake of this entity through a mix of primary and secondary to Carlyle group and Aditya Puri Family investment vehicle. … Read more
The proposed reorganization separates ownership from management. Lemon Tree (LTHL), to become a pure-play asset-light company focused on hotel management, brand & loyalty, distribution and digital services; and Fleur Hotels (FHL), a hotel ownership / leasing platform To achieve the separation, all hotel properties of the group will be transferred to FHL, currently a subsidiary … Read more
Subsequent to the MUFG news, CARE has upgraded Shriram’s FD credit rating to AAA Stable. This was widely expected and should help the Company in bringing down it’s cost of borrowings.
Emirates NBD is acquiring majority into RBL through primary capital infusion upto $3 Bn (~ Rs 26,850 cr). Consequent to the transaction, ENBD is also making mandatory open offer to purchase additional 26% from the public shareholders. Open offer price is @ Rs 280/ share against the current trading price of Rs 300/ share Depending … Read more
International Holding Company (IHC), a leading Abu-Dhabi based global investment company is investing Rs 8,850 cr ($1 Bn) into Sammaan. Transaction comprises of 33 cr equity shares at Rs 139/ share (18% discount to previous day’s price) aggregating to Rs 4,587 crore; and 30.7 cr warrants, convertible into equity shares, for Rs 4,263 crore. Above … Read more
South Africa’s largest asset manager with $80 bn in AUM has entered Indian Asset Management Market with Strategic Investment in Shriram AMC. Sanlam already has a long term relationship of more than 20 years with the Shriram Group. It’s an investor into their insurance business, was previously invested into Shriram Finance and has also set up … Read more
In a somewhat surprise announcement, IDFC First bank (IDFB) has announced a significant fund raise. Rs 7,500 cr raise has been announced for 15% dilution. Rs 4,876 cr from Warburg Pincus for 9.8% Rs 2,624 cr from Abu Dhabi Investment Authority (ADIA) for 5.1% Instrument is Convertible Cumulative Preference Shares of face value of Rs … Read more
Bain Capital is investing Rs 4,385 cr to acquire an 18.0% stake in Manappuram Finance (MFL). Stake is being acquired through the preferential allotment 50% is upfront equity infusion 50% is through warrants Investment is @ Rs 236 per share/ warrant; 9% premium to the last closing price. The stock has increased by 37% in … Read more