There are widespread rumors in media that Mitsubishi UFG Financial Group (MUFG) is looking to acquire 20% stake in Shriram Finance (SFL) for $2.6bn. As per the speculations – Stake would be acquired through fresh issue MUFG would be open to gradually increase stake and hence also possibility of open offer at some stage The … Read more
The Company has announced a buyback of Rs 18,000 cr. Around 10 crore shares will be purchased at Rs 1,800 apiece, a 19% premium over the stock’s previous closing price. The buyback will account for 2.41% of the existing equity This is the fifth buyback by Infosys and it’s largest. Previous buybacks were of Rs … Read more
It was known that Boob family is expected to sell 24% stake of the Company. In the last conference call this was discussed and management (Sikchi family) had informed that it was due to Boob family’s estate planning and not any operational concerns. Sikchi family had also committed that they are not looking to sell … Read more
Antfin has sold it’s final remaining 5.84% stake in Paytm. Deal has been executed in open market at Rs 1,020/ share aggregating Rs 3,800 cr. Antfin was the last remaining Chinese shareholder, and now Paytm will no longer have any Chinese ownership. This would possibly also looked favorably by the Indian regulators. Ant’s exit was … Read more
Bosch group has acquired 74.2% stake in Johnson Controls-Hitachi Air Conditioning India (JCHAI). The acquisition is effective July 31, 2025 and is consequent to the $8 billion global deal, wherein Bosch announced a takeover of the AC solutions business for residential and light commercial buildings from Johnson Controls about a year ago. JCHAI’s acquisition positions … Read more
In a long awaited development, Promoters are selling out of VIP Industries. Piramals have sold 32% stake to a consortium led by Multiples, the Private Equity major. Consortium includes Caratlane founders, Mithun Sancheti and Siddhartha Sancheti. Stake has been sold at Rs 388/ share for Rs 1,763 cr. This is at a 15% discount to … 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
Japanese banking giant Sumitomo Mitsui Banking Corp (SMBC) is rumored to be back on the table for acquiring a significant stake in Yes bank (YB). (Deal talks with Mitsubishi UFJ Financial Group (MUFG), another Japanese player, and SMBC did not fructify last year, as both financial majors were seeking dispensation on the voting right limits) … Read more
Airtel’s move comes in the wake of the government recently raising its stake in Vodafone Idea to over 49%. The telecom reform package announced in September 2021 allowed telcos to defer spectrum and AGR (Adjusted Gross Revenue) dues for four years. It also provided the option to the operators to convert interest on these deferred … Read more