Stake Financial News

₹2,116 crore. The offer price of ₹235 per share represents a premium of 21.91% over the stock's closing price on September 23.

PTI. The United States has made clear that it expects the Indian government to work with Canada on efforts to investigate the possible involvement of New Delhi.

₹134.50 per share, 6.7 per cent higher than the issue price of ₹126, and on the BSE, Samhi Hotels share price was listed at ₹130.55 per share. The initial public offering (IPO) of Samhi Hotels had opened for subscription on Thursday, September 14, and closed on Monday, September 18.

Morgan Stanley has offloaded stake in Gurugram-based hotel operator SAMHI Hotels, which debuted on the exchanges on Friday. SAMHI Hotels listed at a mild premium of 8% on the NSE over its issue price. However, the stock rallied and closed at Rs 146 per share on the NSE, which is 16% higher than the IPO price of Rs 126. According to bulk deals data available with the exchanges, Morgan Stanley, through its various funds, sold a combined shares of 64.6 lakh. It is unclear how much stake in the company these shares amounted to as the shareholding pattern was not yet available with the exchanges. Post the listing, analysts recommended investors to book profits, mainly because of poor financials in the last three financial years. For the year ending March, the company's revenue from operations more than doubled to Rs 738 crore.

Adani Green Energy Ltd. The new JV company will house a 1,050-megawatt portfolio consisting of solar and wind projects, according to the report. "Exciting news! Mint is now on WhatsApp Channels

Glenmark Pharma fell over 6% to Rs 775 in Friday's intraday trade on BSE after the firm received board approval to sell a 75% stake in subsidiary Glenmark Life Sciences to Nirma Ltd. Glenmark Pharmaceuticals has entered into a definitive agreement with Nirma to divest a 75% stake in Glenmark Life Sciences for Rs 5,651.5 crore, at a price of Rs 615 per share, the company said in an exchange filing. Glenmark Life Sciences is the listed subsidiary of Glenmark Pharmaceuticals, and the latter owns more than 82% stake in the former. Post the sale, Glenmark Pharma will continue to own 7.84% in Glenmark Life Sciences, the former said in a release. Glenmark Life Sciences contributed close to 17% to the consolidated revenue of Glenmark Pharmaceuticals in 2023.

₹815.95 against the previous close of ₹828.05 and fell 5.45 per cent to the level of ₹782.90 on BSE. As Mint reported, Glenmark Pharmaceuticals announced on Thursday (September 21) that it would sell a 75 per cent stake in its subsidiary unit Glenmark Life Sciences, to Nirma for ₹615 per share for an aggregate consideration of ₹5.651.75 crore. The Mumbai-based drugmaker will continue to own a 7.84 per cent stake in Glenmark Life Sciences with the stake reduction.

₹625.10 against the previous close of ₹627.10 and slipped 2.3 per cent to the level of ₹612.75. On Thursday (September 21), the company said Nirma had agreed to buy a 75 per cent stake in it for ₹5,651.5 crore in a deal that values the company at ₹7,535.4 crore. Mint reported first on 15 August that the cement-to-detergent maker was the sole bidder for the stake put on the block by parent Glenmark Pharmaceuticals Ltd, which is selling shares to Nirma at ₹615 apiece.

ICICI Bankshare price is likely to be in focus on Friday (September 22) as a day ago on September 21 it informed exchanges that it had entered into an agreement for the investment of about ₹5 crore in Quantum CorpHealth. The time period for the completion of the acquisition is by the end of October 2023 with a cash consideration of nearly ₹4,99,95,000 for 9.99 per cent shareholding of Quantum CorpHealth Private Limited.

The firm behind stablecoin Tether (USDT) has invested an undisclosed amount into German-based crypto miner Northern Data Group in a move backing artificial intelligence (AI) initiatives.

Ether (ETH) has seen a 36% year-to-date increase in its price in 2023 in U.S. dollar terms. This recovery, however, is modest given that ETH is currently trading 66% below its November 2021 peak of $4,870.

Glenmark Pharmaceuticals will sell 75% stake in its subsidiary Glenmark Life Sciences to Nirma Limited, for Rs 5652 crore, at a price of INR 615 per share, stated a company press release. Glenmark Pharma will own 7.84% in GLS after the divestment.

Glenmark Pharmaceuticals announced on Thursday, September 21, that it would sell a 75 per cent stake in its subsidiary unit Glenmark Life Sciences, to Nirma for ₹615 per share for an aggregate consideration of ₹5.651.75 crore. The Mumbai-based drugmaker will continue to own a 7.84 per cent stake in Glenmark Life Sciences with the stake reduction.

Justin Trudeau dropped a bombshell Monday in the House of Commons when he cited “credible” intelligence that agents of Indian Prime Minister Narendra Modi’s government may be linked to the killing of 45-year-old Hardeep Singh Nijjar.Nijjar, a prominent Sikh leader who advocated for the Khalistan movement, was shot dead June 18 outside the Guru Nanak Sikh Gurdwara in Surrey, B.C.Trudeau did not elaborate further on what evidence Canadian intelligence agencies may have.India has strongly denied the allegation, accused Canada of sheltering “Khalistani terrorists and extremists” and warned its citizens in Canada to “exercise utmost caution” due to what it calls “anti-India activities” in the nation.Both nations, which have traded billions of dollars worth of goods over the years, have expelled each other’s diplomats. A former foreign policy adviser to Trudeau says this may be the beginning of a months-long diplomatic spat with India.Here’s what is at stake when it comes to trade.Before the allegation publicly surfaced Monday, trade relations with India were beginning to sour.On Sept.

HDFC Asset Management Company Ltd. (HDFC AMC) for acquiring aggregate holding of up to 9.5% of the paid-up share capital or voting rights of The Karur Vysya Bank Ltd," Karur Vysya Bank said in a regulatory filing.

Emami Group’s AMRI Hospitals for around ₹2,300 crore, a person in the know said. As part of the deal, Manipal will pick up an equity stake as well as assume a portion of AMRI’s debt. In FY23, AMRI reported revenue of about ₹1,000 crore, which will enhance Manipal’s revenues for the year, estimated at ₹4,500 crore, said the person seeking anonymity.

The looming selldown at Queensland Airports Limited – which owns airports at Gold Coast, Townsville, Mount Isa and Longreach – is about to get much larger. Street Talk understands Macquarie’s The Infrastructure Fund is considering parting with its entire 40 per cent stake in the business instead of the 10 per cent it originally put up for sale.

Competition Commission of India (CCI) on Wednesday said it has approved the stake acquisition by Blackstone and TPG in Quality Care India Ltd (QCIL). QCIL is a multi-speciality healthcare provider, which operates a network of multi-speciality hospitals under the brand name 'CARE Hospitals' in several cities across the country. According to two separate releases, CCI said it has approved the acquisition of about 72.49 per cent and 24.16 per cent stake in Quality Care India Ltd by BCP Asia II and Centella Mauritius Holdings Ltd, respectively.

Manipal Hospitals said on Wednesday it has acquired an 84% stake in AMRI Hospitals in its bid to expand its presence in eastern India. Kolkata-based AMRI Hospitals is owned by FMCG-to-realty conglomerate Emami Group and comprises of over 1,200 beds, over 800 doctors and 5,000-plus healthcare professionals. «In an endeavour to focus on our core businesses, we have divested our majority stake in AMRI Hospitals,» Aditya Agarwal and Manish Goenka, directors, Emami Group, said in a statement. Emami will continue to hold a 15% stake in AMRI with the government of West Bengal holding a 1% stake in the firm. Hospitals in India have been buying each other at near record rates, with M&As totalling $4 billion in 2022 and $2.2 billion in the first five months of this year, Reuters reported in June. The private healthcare sector in India has seen a post-pandemic boom with global consultancy firm PwC projecting a 12-14% annual growth for India's private healthcare market, currently worth around $48 billion.

Offer for sale in SJVN opens tomorrow for non-retail investors. Retail investors can bid on Friday. Government will divest 4.92% equity including a Green Shoe option of 2.46%.

₹2.24 lakh crore) in 2022, marking a 37% increase in just four years, as per data from Statistics Canada. Bloomberg quoted Vivek Dehejia, an Economics Professor at Ottawa's Carleton University, as saying, “The financial connections are very strong in both directions." He opined that the recent diplomatic fallout could have a “chilling effect" on investment flows. India holds significant sway in Canada’s education sector, being the largest source of international students in Canadian universities and colleges.