Tata Motors (TML) does a start-up kind of fund raising and announces $1 bn of investments from TPG and ADQ (of Abu Dhabi) in it’s EV business. Key points to note – The investment values the EV business at $9.1 bn post money. Funds will come in two tranches – 50% by March 2022 and … Read more
Standard Life has sold 5% of HDFC Asset Management Company (HAMC) for Rs 3,061 crore. Key points to note – Standard has been a relentless seller in both HAMC as well as HDFC Life Insurance Company (HLIC). In HLIC, it reduced it’s stake from 29.28% in September 2018 to 3.89% in June 2021, whereas in … Read more
Kayak Investments Holding Pte (affiliate entity of PE firm KKR) on September 29, 2021 89.52 mn shares of Max Healthcare (MH) at around Rs 350/ share aggregating to more than Rs 3,100 crore. Key points to note KKR is categorised in the promoter group of MH. It along with the turnaround specialist Abhay Soi had … Read more
Kubota Corp (KC) of Japan, an agriculture and heavy equipment firm is rumoured to be in discussions with the promoters (Nanda family) to acquire their stake in Escorts Ltd (EL). Key points to note – KC’s current mcap is around USD 27 bn and EL’s about USD 2.7bn. KC already owns 9.09% in EL – … Read more
Zee today announced that it’s board has given an in principle approval for the merger of Zee Entertainment Enterprises Limited (ZEEL) and Sony Pictures Networks India (SPNI). Rumours of talks between ZEEL and SPNI have been happening since 2019 but guess Covid delayed the process. Key points to note – Approval has been given to … Read more
Carlyle is set to divest another 3.4% stake in SBI Cards and will now be left with just 3.1% stake in the Company. The sale will happen in the price band between Rs 1,021–Rs 1,072.3 per share (closing price as on September 20, 2021 was Rs 1,072.3) Key points to note – SBI Cards was … Read more
As at June 30, 2021, ICICI Bank held 51.87% of the equity stake in ICICI Lombard – the general insurance business. On September 3, 2021, ICICI Lombard informed the exchanges about receipt of approval from Insurance Regulatory and Development Authority of India (IRDAI) for ICICI Bank to reduce the stake in Lombard to 30%. The … Read more