Stake Financial News

₹86.1 per share, totalling to ₹790 crore. However, the buyers in the transaction are still unknown. According to available data, Dayside Investment held 1.3% stake in the bank, meanwhile, another affiliate Cloverdell Investment owned 2.74% stake in the IDFC First Bank, as of November 2023.

Ircon International share price slumped over 8% on Thursday's session following the opening of the two-day offer for sale (OFS) today. The engineering and construction company said in an exchange filing on Wednesday that the central government plans to sell up to 8% of its stake in IRCON International through an OFS, with a floor price set at ₹154 per share, as previously reported by Mint.

₹1,015 apiece on BSE. According to Rajesh Bhosale, Equity Technical and Derivative Analyst, Angel One, Bharti Airtlel is in a strong uptrend, but this week, while there's a strong broad base buying in the market, this stock has not participated in the rally and in fact has slipped lower this week.

₹154/share. (This is a breaking, refresh for updates) Milestone Alert!Livemint tops charts as the fastest growing news website in the world

IRCON International through an offer for sale (OFS), which opens on Thursday. The government will offload about 3.76 crore shares, which represents 4% stake through the OFS, and in the case of oversubscription, an additional 4% stake will be under sale. The offer for sale will take place on December 8 through a separate window on the stock exchanges. The floor price of the offer is fixed at Rs 154, which is nearly 10% discount to the last traded price. As of September-end, the government holds 73.18% stake in the company.

TOKYO (Reuters) — Harmonic (NASDAQ:HLIT) Drive Systems, a Japanese maker of speed reducers, said on Wednesday that Toyota Motor (NYSE:TM) would sell its entire stake of 4,379,400 shares in it in the open market overseas.

We don’t support this browser anymore. This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

Bank of India (SBI), on Tuesday, announced that it is planning to acquire a 20% stake in SBI Pension Funds, which is held by SBI Capital Markets SBI currently holds a 60 percent stake in SBI Pension Funds. Through this latest transaction, the company is set to increase its stake to 80 percent, acquiring the additional shares for a sum of 229.52 crore. The remaining 20 percent stake in SBI Pension Funds is held by SBI Funds Management.

SoftBank Corp will invest roughly 473 million euros ($514 million) to take a 51% equity stake in Cubic Telecom that will give the Dublin-based connected-vehicle technology provider greater access to Asian automakers. The Japanese telecommunications arm of tech investment giant SoftBank Group and Cubic «will form a strategic global partnership to pioneer the future of software-defined connected vehicles,» the two companies said on Tuesday.

JSW Infrastructure said Monday that it will acquire a majority stake in PNP Maritime Services (PNP Port) from Shapoorji Pallonji (SP) Group for a cash payment of ₹270 crore. PNP Port operates multi-purpose jetties at Shahbaj, Raigad district of Maharashtra, about 20 nautical miles from Mumbai Anchorage. JSW Dharamtar Port, a wholly-owned subsidiary of JSW Infrastructure, has signed an agreement to purchase 50% of PNP Maritime Services, which is held by SP Port Maintenance, a Shapoorji Pallonji group company. The acquisition values PNP Maritime Services Port at an enterprise value of around ₹700 crore, the company said in a press statement. The 5 million tonnes per annum (MTPA) is about 20 nautical miles or 37 kilometres from Mumbai Anchorage. The company said that the PNP Port is expected to strengthen its position to provide hub-and-spoke model logistics services to its customers, which can potentially save substantial costs. JSW Infrastructure intends to upgrade the PNP Port facilities and expand its capacity from current 5 MTPA to 19 MTPA in a phased manner. «The acquisition of PNP Port is a strategic asset for JSW Infrastructure.

A minority stake in one the largest broker-dealers in the United States could be sold off by its private equity owners, according to a report by Bloomberg.

₹700 crore. Currently, the port has a capacity of 5 million tonnes per annum (MTPA), with potential expansion to 19 MTPA. JSW Infrastructure intends to enhance and upgrade the facilities and capacity of PNP Port from 5 MTPA to 19 MTPA in a phased manner," the company said in a statement.

₹230 crore, in the personal care products manufacturer. The designated floor price for the sale has been established at ₹368.7-384.1 per share, reflecting a potential discount of up to 4% from the prevailing market price. Kotak Securities is the broker to the deal, the reports cited.

LONDON — Manchester United will next week announce that British petrochemicals billionaire Jim Ratcliffe will take a 25% stake in the football club, Sky News reported Monday.

Fireside Ventures Investment Fund plans to sell its partial stake in Mamaearth parent Honasa Consumer through block deals on Tuesday, according to reports. The VC firm is offering 61 lakh shares or 1.9% stake in the personal care products maker.

Accel Partners, Evolvence India, Sistema Asia Fund, Foundamental Gmbh and Nexus Venture Partners as its other investors. In June 2022, the company raised $50 million in growth capital from Liquidity Group’s MARS Unicorn Fund, valuing it at $2.5 billion. Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market uses technology to provide a procurement experience for players in the construction ecosystem.

India by selling its controlling interest in a high-profile, six-year-old joint venture that includes Tata group, HDFC Bank and ICICI Bank. Mathew Cyriac, former PE co-head for Blackstone India, has emerged as frontrunner to buy a controlling 51% in IARC, said people in the know. The exercise values International Asset Reconstruction Company (IARC) at Rs 200 crore, people aware of the proposed deal told ET.

Siemens announced that Siemens AG, based in Germany, will purchase an 18 percent stake in the company from Siemens Energy Holding BV at a rate of ₹2952.86 per share, on December 1. This price reflects a discount of 21.32 percent compared to the last closing price. The acquisition involves 6,41,01,646 shares, resulting in a transaction value of ₹18,928 crore.

₹1,022.55 per share on Friday, December 1 on NSE after its promoter company Bharti Airtel acquired an additional 1.35 percent stake in the telecom company from another promoter group entity Indian Continent Investment Ltd (ICIL) via ₹8,301.73-crore block deal. “BTL has acquired 1.35% shares of Bharti Airtel from Indian Continent Investment Limited (ICIL) through block deal mechanism on National Stock Exchange of India Limited for an aggregate amount of ₹8,301.73 crore," BTL said in a stock exchange filing. After the recent block deal, ICIL's ownership in Airtel has decreased to 4.56%.

₹1,000 crore in the next 12-18 months towards EV financing," StrideOne founder Ishpreet Gandhi said. Mintin September had reported that StrideOne was in talks to acquire MoEVing, which would value the latter at around ₹100-120 crore, to enter last-mile EV financing.

Best Agrolife Ltd. (BAL) has made a strategic investment in Kashmir Chemicals and acquired a 99% stake in the company.