Stake Financial News

Blockchain security firms Peckshield and Cyvers have detected multiple suspected transactions with wallets linked to crypto casino, Stake. 

IDFC First Bank jumped 5.4% to hit a 52-week high of Rs 98.5 in Monday's trade on BSE after US-based GQG Partners bought a stake in the private lender through bulk deals on Friday. According to exchange data, GQG Partners has picked up 17.1 crore shares or 2.58% stake in the lender for about Rs 1,527 crore. The transaction was done at Rs 89 apiece. Meanwhile, Warburg Pincus affiliate Cloverdell Investment has sold a 4.2% stake in the company.

₹28,953 crore) to acquire shares from its non-controlling interest holders in first half of 2023, said a report by PTI citing Walmart’s statement. During the first half of 2023, Flipkart received $700 million related to new rounds of equity funding for its subsidiary PhonePe, said the Bentonville-based Walmart in a US Securities & Exchange Commission (US SEC) filing. “During the six months ended July 31, 2023, the company paid USD 3.5 billion to acquire shares from certain Flipkart noncontrolling interest holders and settle the liability to former noncontrolling interest holders of PhonePe"said the report quoting Walmart’s US SEC filing.

On August 30, Robinhood entered into a $605.7 million (HOOD) share buyback agreement with the US Marshal Service (USMS) to reclaim shares formerly held by Same Bankman-Fried (SBF) through Emergent Fidelity Technologies.

Wipro said on Friday that the company has signed a definitive agreement to subscribe for the equity share capital in FPEL Ujwal Private Limited for a value of Rs 6.3 lakh. The transaction is expected to be completed before May 31, 2024. The stake acquisition will enhance the proportion of usage of renewable energy for Wipro offices in Karnataka, said the company in a note to exchanges.

asset management firm, has bought 2.58% stake in IDFC First Bank via bulk deals on Friday, according to data available on the bourses. As per BSE data, US-based company acquired 171,602,498 shares of the private banking company for ₹89 apiece, which aggregates to ₹1,527 crore.

Cryptocurrency and stock trading platform Robinhood has announced the purchase of more than 55 million shares of the firm previously held by former FTX CEO Sam Bankman-Fried, also known as SBF.

Nikhil Kamath, cofounder and CEO of leading stock broker Zerodha, is reportedly acquiring more stake in homegrown gaming platform Nazara Technologies. According to CNBC-TV18, citing sources, Kamath is aiming to acquire a total of 3.5% stake in the firm «in his personal capacity».

Sula Vineyards rose 2% to Rs 499 in Friday's intraday trade on BSE after HDFC Mutual Fund, Societe Generale, Morgan Stanley Asia Singapore, and Ghisallo Master Fund bought a 7.06% stake in the winemaker after foreign investor Verlinvest Asia sold a 12.56% stake. The acquisition was facilitated through open market transactions on August 31. At 11.33 a.m., the stock was trading 1% higher at Rs 494.8 on BSE. On a year-to-date basis, the stock has surged 50%, while it has also risen nearly 40% in the last six months. The firm distributes wines under a bouquet of popular brands such as Sula, its flagship brand, besides other popular brands like RASA, Dindori, The Source, Satori, Madera & Dia. Sula Vineyards is majority-owned by public shareholders with a 72.7% stake, while promoters own the rest of 27.2%. Among the public shareholders, mutual funds have a 9% stake, while prominent foreign investors Goldman Sachs, and ADIA also have holdings in the company. In the recent first quarter, Sula Vineyards' consolidated net profit rose 24% year-on-year (YoY) to Rs 13.68 crore.

Bharat Forge CMD Baba Kalyani and his sister Sugandha Hiremath's legal battle for Hikal observes a new twist, another aspect of the family agreement which includes CMD's younger brother Gaurishankar could turn things around for Kalyani, reported TOI. As per a clause of the family agreement between Baba and his parents on June 19, 1994, Gaurishankar, who owns nearly 3 per cent of Bharat Forge, is required to transfer his stake to his older brother after their parents passed away. Neelkanth Kalyani, died in 2013, while their mother, Sulochana Kalyani, passed away on February 25, 2023. Gaurishankar owns a 2.67 per cent stake in Bharat Forge through 10 privately held companies like Jannhavi Investment, Yusmarg Investment, and Dandakaranya Investment. However, if 3 per cent of the stake is transferred to Baba as per the family agreement that is worth Rs 1,300 crore and market capitalisation of more than Rs 47,567 crore, then he will also have to lose 34 per cent stake in Hikal to his sister. Over the course of the legal battle between the family members, the billionaire has been denying the existence of the family agreement by claiming that it cannot be sustainable before the law.Kalyani Investment and BF Investment through an exchange filing said that the Hikal shares they hold “are not the subject matter of any family arrangement as alleged." “We gather from the written statement submitted by Baba Kalyani with the Bombay HC in relation to the suit filed by Sugandha Hiremath that he has denied the existence of the so-called family agreement.” The two firms said the suit is pending and accordingly, the existence of the purported family arrangement is a matter which is sub-judice.

₹947 crore ($114.7 million), news agency Reuters quoted exchange data. Part of Japan's SoftBank Group, the venture capital sold 100 million shares at 94.7 rupees apiece in bulk deals, the report added. According to the data from the National Stock Exchange, the firms who bought Zomato shares include International Monetary Fund, Morgan Stanley Asia Singapore, Societe Generale, Goldman Sachs (Singapore), Invesco Mutual Fund and Kotak Mahindra Life Insurance.

electric vehicle batteries, the company said in an official statement. Earlier in May this year, Hyundai Motor Co announced to investment of around 2 trillion won ($1.51 billion) in Ulsan, South Korea to build a designated electric vehicle (EV) factory.

Zomato share price jumped over 5% in early trade on Wednesday after a block deal in the food delivery giant. Zomato shares rallied as much as 5.12 to ₹99.50 apiece on the BSE. Around 10 crore Zomato shares, aggregating to 1.17% stake in the company, changed hands at an average floor price of ₹94.70 apiece in a block deal on the bourses.

Kerry Stokes’ Seven Group Holdings had UBS’s equities desk rounding up buyers for an up to 3 per cent slice of Boral Limited after market close on Tuesday.

MUMBAI : SoftBank’s Svf Growth (Singapore) Pte. Ltd is set to divest a 1.17% stake in Zomato Ltd on 30 August. The deal is expected to fetch ₹940 crore ($114 million) for the Japanese investor.

SEC) wrongly rejected an application from crypto asset manager Grayscale Investments to list an exchange-traded fund that tracks the price of bitcoin. The case is being closely watched by the cryptocurrency and asset management industries, which have been trying for years to convince the SEC to approve a spot bitcoin ETF. They say it would allow investors to gain exposure to bitcoin, the world's largest cryptocurrency, without having to own it. The SEC, though, worries spot bitcoin ETFs will be vulnerable to manipulation.

By Hannah Lang

Zomato Ltd on Monday via bulk deal on BSE, data on the bourse said today. The US-based venture capital fund offloaded 123,486,408 equity shares or 1.44% at an average price of ₹91.01 per share.

investment firm Tiger Global has sold its remaining 1.44% stake in online food delivery platform Zomato in the open market on Monday. According to BSE bulk deal data, Tiger Global's Internet Fund III PTE has sold 12.35 crore shares at Rs 91.01 apiece to raise about Rs 1,124 crore.

Tiger Global, through its affiliate Internet Fund III Pte, has exited food delivery platform Zomato by selling its entire stake via bulk deals on Monday. Under the transaction, the US hedge fund has offloaded 12.3 crore shares or 1.47% stake in the company on BSE at Rs 91.01 apiece, earning about Rs 1,123 crore. Marquee funds, including Axis Mutual Fund, Goldman Sachs, Citigroup, Morgan Stanley Asia, and Societe Generale were among the buyers in the transaction. Meanwhile, another Russia-based fund Apoletto Asia has sold 3.19 crore shares in a separate deal on NSE, according to exchange data. Earlier, it was reported that Japanese tech giant SoftBank was likely to offload Zomato shares as the lock-in for the post-Blinkit deal ended on Friday. Zomato issued fresh equity shares to all the selling shareholders of Blinkit as consideration for the M&A last year.

Sun Pharma is looking to fully acquire its Israel-based unit Taro Pharmaceutical Industries in order to integrate the dermatology business with itself and keep it profitable amid increasing competition in the segment, according to Managing Director Dilip Shanghvi. The Mumbai-based drug major has proposed to fully acquire Taro through a reverse triangular merger. The company has issued a letter to the Taro board with a proposal containing a non-binding indication of interest to acquire all of the outstanding ordinary shares for a purchase price of USD 38 per ordinary share in cash.Sun Pharma currently owns around 78 per cent stake in Taro. «My own assessment is that the dermatology business, which is the primary focus for Taro, is a business under constant, increasing competition pressure,» Shanghvi said in an analyst call. He further said: «And as a stand-alone company, it will be very difficult for Taro as an independent company to continue to operate that business profitably. So that broadly is the reason why we felt that it's useful for us to consider integrating that with Sun Pharma.»