Stake Financial News

Friend.tech, a social platform leveraging Web3 technology, has proposed a new ownership model by  offering its shares to its  users. 

IPOs this week: One mainboard, 12 SME public issues to open for subscription; check full list here The IPO of Bharti Hexacom comprises exclusively of an offer-for-sale (OFS) segment, devoid of any issuance of new shares. Telecommunications Consultants India, the singular public shareholder in the firm, intends to sell 7.5 crore equity shares, equating to a 15% stake in the OFS. Bharti Airtel, led by Sunil Mittal, owns a 70% stake, equivalent to 35 crore shares, while the remaining 30% ownership, comprising 15 crore equity shares, is held by non-promoter TCIL.

AI startup Anthropic will not accept investments from Saudi Arabia in the sale process of 8% of its shares as  part of FTX’s bankruptcy proceedings .

Maruti Suzuki India on Saturday said it has acquired over 6 per cent stake in technology startup Amlgo Labs. The startup operates in data analytics, cloud engineering, machine learning (ML) and artificial intelligence (AI) to assist companies in data-driven decision-making. The investment is being made through Maruti Suzuki Innovation Fund, an initiative to undertake strategic investments in startups exhibiting high levels of technological innovation, the auto major said in a statement.

According to a stock exchange notice on Thursday (22 March), the firm bought close to 0.5% of the trust's shares, as well as an additional 4.57% in equity swaps, crossing the 5% threshold on 19 March. Based on Scottish Mortgage's closing price, Peel Hunt has estimated this represents a substantial exposure to SMT of around £607m.  The Delaware-based investment firm, which is known for its activist shareholder campaigns at companies including GSK and Germany's Fresenius, is led by Paul Singer, recognised for his high-profile, and often combative dealmaking. Trust analysts: Alliance ...

ITC's weight will go up in the S&P BSE Sensex, resulting in likely inflows of $50 million, according to estimates by Nuvama. Today, Sensex will adjust ITC's free float factor as a result of British American Tobacco's (BAT) 3.5% stake sale in the company. Meanwhile, the adjustment on Nifty will be done during the rejig exercise on March 27. Nuvama anticipates a $70 million inflow.

Mint that Inox Wind, a group company focused on wind energy solutions, plans to set up a C&I vertical to primarily cater to the group’s captive power demand, which is around 500-600 MW. Noida-headquartered INOXGFL Group is present in chemicals manufacturing and renewable energy businesses through Gujarat Fluorochemicals Ltd (GFL); GFCL EV Products Ltd; GFCL Solar & Green Hydrogen Products Ltd; Inox Wind Ltd; Inox Green Energy Services Ltd; and Inox Wind Energy Ltd. Inox Green Energy Services Ltd is one of the major wind power operations and maintenance (O&M) service providers in the country, servicing a 3.2 giga watt (GW) portfolio.

Donald Trump’s stake in his social-media company could soon be worth nearly $3.5 billion, giving the former president a potential windfall that could ease his financial pressure and boost his political campaign. Trump’s winning lottery ticket would come from Truth Social, the struggling social-media platform he launched in 2021. After a twisted path that included tens of millions of dollars in losses and insider-trading convictions, the platform could be worth billions of dollars because the former president’s supporters have bid up the shares of its merger partner.

(Reuters) — Energy firm Shell (LON:SHEL) said on Wednesday it had sold its 50% stake in SouthCoast Wind Energy, established to develop wind projects off the coast of Massachusetts, to its joint venture partner Ocean Winds North America for an undisclosed sum.

A Dubai sovereign wealth fund that’s the single-largest shareholder in the Nasdaq stock index plans to sell a third of its shares in the exchange

₹5,600 crore debt from state run Power Finance Corporation (PFC) and REC last year. The company, which is focused on the commercial and industrial (C&I) segment, plans to develop 4 giga watt (GW) of renewable energy capacity—2.55 GW solar power and 1.4 GW wind power. “Serentica is on a rapid growth trajectory and will explore different avenues of capital including internal accruals to fund this growth," a company spokesperson said in an emailed response to Mint’s queries.

MUMBAI: Sterling and Wilson, an engineering, procurement and construction company of the Shapoorji Pallonji Group, will raise ₹700 crore from a group of strategic investors through a stake sale in its data centre business, senior company officials said. «The modalities of stake sale are still under discussion, but the strategic investors (more than one) have agreed to bring in ₹700 crore into Sterling and Wilson,» Prasanna Sarambale, CEO of data centre business at Sterling and Wilson (SWPL), told ET. For this purpose, the company will hive off the data centre business — created in 2015 — as a separate entity, he said. The company will use the proceeds from stake sale to pare overall group debt as well as towards growth capital, Sarambale said.

Stock market today: Despite weakness in the Indian stock market today, JTL Industries share price has been in uptrend since early morning deals. JTL Industreis share price today opened upside at ₹190 apiece on NSE and went on to touch an intraday high of ₹195.95 per share level, logging an intraday rise of nearly 6 percent during Tuesday deals. However, the stock failed to sustain at higher levels after the profit-booking trigger.

Pankaj Pandey, Head Research, ICICIdirect.com, says there are SIP inflows of nearly Rs 19,000 odd crore on a monthly basis. On top of it, there are about Rs 3,000 to 4,000 odd crore of inflows from the ETF perspective. Overall, the domestic liquidity is still quite good and that is where even if there is a bit of a selling there, that is not going to change the market trajectory overall. FPI inflows come and go and which is what we have seen last year also. We had some interesting data that we were culling out talking about the kind of promoter stakes sales that we have witnessed in the last month or so of Rs 43,000 crore. How are you reading into this? MNCs as well as ITC, IndiGo, TCS, etc, are in that list? Pankaj Pandey: From FPI perspective, we have seen inflows of about Rs 40,000 odd crore. But our sense is that most are stock specific cases. For example, in IndiGo, one promoter has been continuously paring down his stake. Whereas in the case of ITC, nothing changes structurally because of the high amount of debt and so a stake sale does not really change the overall texture of the company's growth.

Azure Power Global Limited, India’s first renewable energy company to have listed in the US, is exploring a possible stake sale to a strategic partner or even a complete sale of the business, two people aware of the development said. The company has called a special meeting of shareholders on 20 March at its Gurugram office, according to a 9 February statement. Azure Power, which listed on the New York Stock Exchange in 2016 and subsequently delisted in 2023, has backers in Canadian pension funds Caisse de dépôt et placement du Québec (CDPQ) and Ontario Municipal Employees’ Retirement System (OMERS), which hold 53.4% and 21.4% stake, respectively, in the company.

By Rachel Savage

Multibagger stock: Man Infraconstruction share price today witnessed a sharp upside move during morning deals. The realty stock, which has delivered 160 percent return to its positional shareholders today opened upside at ₹193.25 apiece on NSE and went on to touch an intraday high of ₹197 per share, logging around 6 percent intraday rise during Monday deals. The real estate company hit the headlines during the morning when it declared that one of its promoters Mansi P Shah had raised its shareholding in the company by adding 2 lakh company shares in her portfolio.

(Reuters) -Consumer healthcare firm Haleon said on Monday that U.S. drugmaker Pfizer (NYSE:PFE) will sell down its stake in the company to about 24%.

promoters buy shares in their own company, investors consider it positive. Promoter buying usually indicates that the company may be undervalued or that promoters know something big is going to happen, so they lap up shares beforehand. It means that the promoters, who built the company from the ground up, are once again putting their money on the line.

Paramount Global will exit Viacom18 by selling its remaining 13.01% stake to Reliance Industries for ₹4,286 crore, a deal that will value the Indian media company at about ₹33,000 crore. In separate regulatory filings, the US media and entertainment major and the Mukesh Ambani-led Indian conglomerate have said the transaction is subject to the satisfaction of certain customary conditions, including receipt of applicable regulatory approvals. The transaction is also subject to the completion of the proposed joint venture (JV) involving RIL, Viacom18, and The Walt Disney Company's Star India.

Tata Group is considering buying Walt Disney Co.’s stake in Tata Play Ltd. to give it full control of the subscription television broadcaster, people familiar with the matter said, continuing a shakeup in India’s media industry. The companies are in preliminary talks about an acquisition of Disney’s significant minority stake, which would value Tata Play at about $1 billion or more, the people said, asking not to be identified as the considerations are private. Tata may decide not to pursue a deal, they said. Representatives for Tata and Disney declined to comment.