Stake Financial News

Suniel Shetty has picked up a minority stake in Pro Panja League, a professional arm-wrestling tournament launched by celebrity couple Parvin Dabas and Preeti Jhangiani through their company Panja Sports. «I am on board with Pro Panja League as an equity partner at the group level,» Shetty told ET. «My shareholding will be in the single digits.» Pro Panja League was founded in 2020.

₹30,000 crore of support to state-run oil retailers and keeping all things constant, the government will be left with ₹9,000 crore to 10,000 crore after the rights issues of IOC and BPCL. The amount is expected to be used for HPCL which has a current market capitalization of ₹39,650 crore. The officials said that it will translate into a significant stake depending on the prices of the shares.

Five years after it exited the company, the government is set to get a significant stake in Hindustan Petroleum Corporation Ltd (HPCL) as it looks to infuse equity in fuel retailers that lost money on selling petrol and diesel at discounted rates last year, officials said.

Macquarie-managed The Infrastructure Fund has ordered a strategic review of its 7.19 per cent stake in Perth Airport as it looks to take profits after the airport returned to pre-pandemic passenger volumes in February.

Baring PE Asia EQT (BPEA EQT) will acquire 60-65% of Indira IVF for $650-700 million, the largest provider of fertility services in India and in the top five globally in terms of annual in vitro fertilisation (IVF) cycles. The deal was signed before other contenders could submit binding offers by this week's deadline, said people directly involved in the matter. The chain has been valued at $1.1 billion (₹9,000 crore), they said.

Shriram Finance helped Piramal Enterprises report Rs 509 crore consolidated net profit for the April-June quarter, barring which it would have been in deep red, according to a company statement. In the June 2022 quarter, the company booked a net profit of Rs 8,155 crore. And in the reporting quarter the same printed at Rs 509 crore led by a gain of Rs 855 crore from the sale of its 8.34% in Shriram Finance for Rs 4,820 crore, the company said in a statement.

Saudi Arabia has made the first big deal in a push to deploy its vast wealth into the global mining industry, agreeing to buy a stake in Vale’s base metals unit.

French luxury conglomerate Kering has reached a cash deal to purchase a 30% stake in Italian fashion house Valentino for 1.7 billion euros from a Qatari investment firm

There’s no shortage of activity at the country’s major aviation assets, with Queensland Airport Limited’s shareholders joining those at Brisbane Airport in weighing up their options for the future of that investment.

Cipla rose 6% in early trading on Thursday, a day after the company reported quarterly profit that beat analyst estimates on strength in its domestic and North American drug businesses. More to come…

Cipla are in talks with top private equity (PE) players to sell a part of their total holding in the company, according to a media report. An investment bank has been hired to advise on the deal, and Blackstone, Baring Asia, among others, are in talks to explore a deal, the report said, citing three independent sources. The promoters own a 33.47% stake in Cipla, and this move is seen as a step towards succession planning for the company, the report said.

Marico will acquire a majority stake in Satiya Nutraceuticals, which owns plant-based nutrition brand Plix, for a consideration of Rs 369.01 crore. The company has signed a definitive agreement to acquire a majority stake of 58 per cent in Satiya Nutraceuticals for a consideration of Rs 369.01 crore, Marico said in a regulatory filing on Wednesday.

MUMBAI : Mahindra and Mahindra (M&M) Ltd has evinced interest in acquiring as much as a 9.9% stake in private bank RBL Bank Ltd, after picking up a 3.53% stake in the latter a week ago. “We may consider further investment subject to pricing, regulatory approvals, and required procedures. However, in no circumstance will it exceed 9.9%," said the Mahindra group in a regulatory filing on Wednesday evening while commenting on the stake acquisition in RBL Bank, which has recently expressed its new strategy to shift from bulk to granular deposits model to expand the bank’s margins beyond 5%.

NEW DELHI : Packaged consumer goods company Marico Ltd has signed a definitive agreement to acquire a majority stake in Satiya Nutraceuticals Private Ltd that owns plant-based nutrition brand Plix for ₹369 crore. “In line with our strategy to accelerate our diversification journey, the investment in Plix not only expands our total addressable market in value-added wellness foods and nutrition segments, but also brings another digital-first brand with a distinct value proposition into our fold," Saugata Gupta, MD and CEO, Marico, said in a filing with the exchanges. The acquisition of 32.75% of the paid-up share capital of Satiya Nutraceuticals on a fully diluted basis, through primary infusion and secondary buyouts, was completed on 26 July 2023; acquisition of remaining 25.25% of the paid-up share capital of the company will be completed in one or more tranches by May 2025, subject to terms and conditions of the definitive agreements, the company said in its filing.

Rail Vikas Nigam Ltd's 5.36 stake, it informed via a stock regulatory filing.

RBL Bank for ₹417 crores. The company also broached the possibility of additional investments up to a 9.9% stake.

SBB abruptly ended talks with Canada’s Brookfield Asset Management Ltd. over the sale of a 51 per cent stake in a portfolio of school buildings, reflecting the struggles the embattled Swedish landlord faces to close a looming funding gap.

Narendra Modi government. Speaker Birla has said that he will inform the members about the date for a discussion on the matter as per rules after discussing the same with leaders of all parties. The move comes amid an ongoing outcry about the violence in north eastern state of Manipur between Meitei and Kuki Zo community that broke out on 3 May this year.

Mahindra group entity has acquired close to 4.9% stake in RBL Bank through open market route. Under RBI norms, if the shareholding of one company reaches 5% in a bank, the RBI’s approval is needed for any further stake buy. RBL shares were up 4%, trading at Rs 232 apiece on BSE.

Qatar Investment Authority (QIA) is looking to get a minority stake in Indian billionaire Mukesh Ambani's Reliance Retail Ventures, the Financial Times reported on Wednesday, citing sources. The QIA may consider picking a minority stake in RRVL, the FT report said, with a $1 billion investment giving it a stake of about 1 per cent and valuing the business at around $100 billion.

Apollo has snapped up a minority stake in PetSmart, nearly a decade after it first tried to acquire the US pet chain.