It’s an interesting transaction structure – 1st stage – ABFRL will acquire 51% of TCNS at Rs 503/ share for a total cash consideration of Rs 1,650 crore; implying a valuation of Rs 3,235 cr. This is similar to TCNS’s current market price. 20.19% to 29% through open offer. Open offer is to comply with … Read more
Restructuring/ consolidation continues at Raymonds. It has taken further key decisions – 1. The associate Company, Raymond Consumer Care Limited (RCCL), sells FMCG business to Godrej Consumer Products (GCPL). The divested business include condom brands KamaSutra and Premium and deodorant brands Park Avenue and DS. Raymond’s condom plant in Aurangabad, Maharashtra, will continue to do the … Read more
Camlin Fine Sciences (CFS) currently has a promoter group shareholding of only 17.55%. Balance 38.73% is owned by institutions and remaining 43.72% by public. Of 17.55% promoter, 8.66% is owned by Ashish Dandekar Of 38.73% institutional, 21.1% is owned by Mauritius based long term investor Infinity Group. Both of them have decided to join together … Read more
Crompton had acquired controlling stake in Butterfly last year. For details check here. Currently, Crompton owns 75% stake in the Company, previous promoter group 7.78%, DIIs 5.61% and balance 11.58%Â by public. Crompton has now decided to merge Butterfly within itself. Consequently, there would be only one listed entity i.e., Crompton and other shareholders of … Read more
Mahindra & Mahindra (M&M) is currently undergoing an extensive reorganisation exercise. It recently, Separated out the Passenger EV business Sold stake in the renewable business Partnered Actis to develop warehousing Now it has announced separating out the Last Mile Mobility Business and is also raising external funding in it from IFC. Last mile mobility business … Read more
Funds affiliated with Blackstone were classified as promoters and held 20.50% in the Sona Comstar before this transaction. Blackstone has now sold off this final balance 20.5% @ Rs 410/ share aggregating to Rs 4,917 cr through open market bulk deals Buyers included Foreign Institutional Investors, Sovereign Wealth Funds, Domestic Mutual Funds and Insurance. companies. … Read more
Ajanta Pharma has announced buyback once more. This is 4th year in a row, previous 3 details can be checked here. Current buyback details are – 22,10,500 shares constituting 1.73% of the outstanding capital Buyback price is Rs 1,425/ share which is at 17% premium to the current market price Rs 315 cr will be … Read more
Shriram Housing Finance (SHF), the housing finance subsidiary of Shriram Finance (SFL) is in the process of raising $100 mn growth capital. It targets to conclude the fund raise by end June 2023 Market is speculating Baring to be close to finalise a deal. MD has informed that multiple people are in the fray. SHF … Read more
In September 2021, SpiceJet had taken shareholders’ approval to transfer it’s cargo and logistics services business to its subsidiary, SpiceXpress and Logistics Private Ltd. (SLP), on a slump-sale basis, for Rs 2,555.77 cr. In it’s board meetings dated February 27, 2023, it has finally fixed April 1, 2023 as the date from which cargo business … Read more