“Maybe a year or two from now. So once we reach a certain scale, we will do it. Maybe general first, then life next,” Shriram Finance’s Executive Vice Chairman Umesh Revankar said. “Both are doing well. They are profit-making from inception. We have not added any capital in both the companies,” he further added. Shriram … Read more
Gujarat Gas has announced a significant scheme of arrangement. It involves reverse merger of Gujarat State Petroleum Corporation (GSPC, unlisted), GSPC Energy (GEL, unlisted), and Gujarat State Petronet (GSPL, listed) into Gujarat Gas (GGL, listed). Additionally, GGL’s gas transmission business will be carved out and listed separately as GSPL Transmission Limited (GTL) on the stock … Read more
Bajaj Housing Finance (BHFL) was set up in 2017 as a 100% subsidiary of Bajaj Finance (BFL). BHFL’s IPO is coming on September 9, 2024 with a price band of Rs 66-70/ share Issue size is Rs 6,560 cr Rs 3,560 cr fresh capital Rs 3,000 cr offer for sale BFL is diluting 10-11% through … Read more
British telecom major has sold stake through block deals. It has raised Rs 15,300 from the stake sale Vodafone Plc’s stake in Indus Towers has consequently decreased from 21.5% to 3.1%. Bharti Airtel has also announced acquiring additional 1% stake from market, increasing it’s stake in the Company to around 49%. Proceeds from the sale … Read more
Kalpataru Constructions Private Limited (KCPL) is the selling entity. The stake has been sold at around Rs 1,164/ share totalling Rs 1,053 cr KCPL prior to this stake sale held 13.76% in the company as at March 31, 2024 (out of the total promoter stake of 40.59%) The stake sale was executed to help cut … Read more
With the objective to take advantage of the upcoming growth opportunities, IDFC First Bank has announced a Rs 3,200 cr preferential issue (current mcap of the Bank is around Rs 55,000 cr). The issue is priced at Rs 80.63/ share. It’s close to the current market price of Rs 77-78/ share. Subscribers to the preferential … Read more
Westbridge sold off 4.96% stake reducing it’s stake to 29.5% in the Company JIH II LLC sold it’s entire 2.03% stake Shares were sold at around Rs 294/ share Total promoters’ stake now stand reduced to 54.1% from 61.1% earlier Buyers included SBI MF and Luxembourg-based Eastbridge Group amongst others. Whether it’s a cause of … Read more
Aditya Birla Capital (ABCL) and Sun Life (India) AMC Investments Inc. (Sun Life) are the Promoters of Aditya Birla Sun Life AMC (ABSAMC). ABSAMC serves as the investment manager for AB Sun Life MF, a legally registered trust governed by the Indian Trusts Act. Promoters currently together hold 86.48% of the ABSAMC – 49.99% by … Read more
British American Tobacco (BAT) has sold a 3.5% stake in ITC. The stake has been sold in a block deal. BAT has realised a total of Rs 17,491 crore from the sale. The transaction has taken place @ Rs 400/ share which is similar to the prevailing market price. Post this stake sale, BAT’s shareholding … Read more