Reliance Retail to buyback minority

Reliance Industries (RIL) has announced that it’s subsidiary Reliance Retail (RRL) has approved a proposal to buyback and reduce it’s equity share capital to the extent held by the shareholders other than it’s promoter and holding company, Reliance Retail Ventures Limited (RRVL). RIL holds 85.06% of RRVL, which in turn holds 99.93% of RRL RRL … Read more

Abrdn completely exits out of HDFC AMC

After HDFC Life, Abrdn has quickly exited out of HDFC AMC too. After continuously reducing stake over the years, Abrdn had 10.2% balance stake left in HDFC AMC It has now sold this through open market transactions and realised Rs 4,079 cr The per share realised price is Rs 1,873 which is similar to the … Read more

Timken’s parent sells around 10%

Timken Singapore Pte Ltd, the parent Company of Timken India (TI) has sold a significant stake of TI. It has sold 7.6 million shares in the open market The consideration for the same is around Rs 2,361.89 crore i.e., abt Rs 3,100/ share which is 11% discount from the previous closing price It’s stake has … Read more

Abrdn completely exits out of HDFC Life

As was expected, Abdrn (formerly Standard Life Aberdeen) has finally sold off it’s balance 1.66% stake of HDFC Life. Pre-IPO in 2017, Standard Life (now Abdrn) held 35% stake in the Company. Adrdn has been monetising its investments in India as part of its plans at the parent level to shore up capital reserves in … Read more

Spandana’s founder to severe all ties with the Company

In November 2021, Padmaja Gangireddy had stepped down as MD of the Company after strategic disagreement with Kedaara Capital. Since then, both Spandana and Padmaja have moved on; though Padmaja continued to be a non-executive director , is currently categorised as the promoter and owns 14.5% in the Company. Padmaja who is now completely focused … Read more

Promoters divest 6% stake in Kalpataru Projects

The shares were disposed of in the range of Rs 485.06-485.75, taking the transaction value to around Rs 468 cr. The sellers included – Parag Mofatraj Munot (Promoter) and the two promoter group entities — Kalpataru Constructions Pvt Ltd and Kalpataru Viniyog LLP Post this, the total promoter group’s shareholding in Kalpataru Projects International (KPIL) … Read more