Nestle India increases royalty to the parent

Nestle India’s board has approved a staggered increase in royalty payout to the company’s Swiss parent Société des Produits Nestlé S.A. (The Company had in 2019 announced that it would seek approval of it’s shareholders every five years for royalty payments to it’s parent company.) Royalty will increase from current 4.5% of net sales to … Read more

BAT pares its stake in ITC

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

Advent sells significant stake in Eureka

Private equity major, Advent has sold 10% stake of Eureka Forbes (EFL). Advent had acquired Eureka Forbes from Shapoorji Group in September 2021 through a SPV, Lunolux Limited. Before this sale, Lunolux held 72.56% of EFL. 10% stake has been sold at an average price of Rs 506.06/ share totalling Rs 979 cr. Previous day’s … Read more

Parent sells sizeable stake in Whirlpool India

Whirlpool Corporation, the American parent has sold 24% stake in its Indian entity, Whirlpool of India. Stake has been sold in the open market for a total value of $468 mn. Sale happened at Rs 1,277/ per share, a discount of 4.5% to the previous day’s closing price. Purpose of the sale has been mentioned … Read more

BAT planning to reduce stake in ITC

British American Tobacco (BAT) is the largest shareholder in ITC holding 29.03% stake. It has informed that it is looking to reduce it’s stake as part of the Capital reallocation strategy. “We continue to pursue all opportunities to enhance balance sheet flexibility and, as part of this, we regularly review our stake in ITC. We … Read more