Stake Financial News

IRB Infrastructure Developers Ltd. IRB Infrastructure Trust is an infrastructure investment trust registered with the Securities and Exchange Board of India.

₹4,286 crore), according to a regulatory filing by the US company. Mint was the first to report that Paramount was likely to sell its stake in Viacom18. Reliance currently owns a 57.48% stake in Viacom18, which is a subsidiary of TV18 Broadcast Ltd.

1% on Thursday in early trade after reports it was in advanced negotiations to sell a significant stake in Australian telco Optus to Canada's Brookfield Asset Management. Those reports came after Singtel had dismissed an article in the Australian Financial Review (AFR) on Wednesday saying it would sell the entirety of Australia's second-largest telecommunications group for as much as A$18 billion ($11.93 billion).

Reliance Industries has agreed to buy Paramount Global's entire 13.01% stake in local entertainment network Viacom 18 Media for approximately Rs. 4,286 crore, RIL said in a regulatory filing. «A binding agreement has been entered between Reliance and two subsidiaries of Paramount Global to acquire 13.01% equity stake (on a fully diluted basis) of Viacom 18 Media held by Paramount Global through its two subsidiaries for an aggregate consideration of Rs. 4,286 crore,» the filing said. After the completion of this transaction, Reliance's equity stake in Viacom18 will increase to 70.49% on a fully diluted basis.

₹439.00 apiece on the BSE. Around 43.7 crore ITC shares, amounting to 3.5% of the total equity of the company, changed hands in a block deal that took place in the pre-market block window. The shares were sold at an average price of ₹400.4 apiece, taking the total transaction value to ₹17,491 crore, reports said.

BAT Plc on Tuesday said in a statement that its wholly-owned subsidiary Tobacco Manufacturers (India) Ltd will sell around 3.5% stake in ITC Ltd to institutional investors by way of a block deal and has launched the process. BAT said after the completion of the proposed block deal, BAT will continue to remain a significant shareholder of ITC with around 25.5% holding. BAT wanted to have more than 25% shareholding in ITC to have a strategic influence and veto rights in the company, chief executive Tadeu Marroco had said in December.

MUMBAI : British American Tobacco (BAT) Plc is preparing for its long-awaited stake sale in ITC Ltd in the next two weeks, two people aware of the matter said. The British multinational plans to sell 4% in the Indian company at ₹380-390 per share, a 5-8% discount to Monday’s closing price of ₹409, the people said on condition of anonymity. Around 499 million shares worth around ₹20,000 crore (over $2.4 billion) are expected to change hands, in the biggest block deal since 2021 when Bosch Ltd saw block deals of ₹29,000 crore for 19.98 million shares.

Bank of Nova Scotia’s asset-management arm reduced its stake in Israeli defence contractor Elbit Systems Ltd., an investment that sparked protests last year as the war between Israel and Hamas raged on.

Investing.com — Gary Black has typically been a vocal supporter of Tesla (NASDAQ:TSLA), but a recent filing has revealed that the Chicago-based portfolio manager has cut his fund's position in the electric vehicle (EV) giant.

MUMBAI : IndiGo co-founder Rakesh Gangwal on Monday offloaded a larger-than-anticipated 5.8% stake in InterGlobe Aviation Ltd, the parent company of the airline, through a block deal on BSE. This sale follows previous divestments by Gangwal and his family, indicating a gradual reduction in their shareholding in the company.

NEW DELHI : The Adani group will bid for the Airports Authority of India’s (AAI’s) stake in only Mumbai airport, and is not a suitor for the state-owned airport operator’s residual share in airports in Delhi, Bengaluru and Hyderabad, Karan Adani, managing director of Adani Ports and Special Economic Zone (APSEZ) said. He added that the group will bid for airports that the government plans to put for auctions. “We will bid for (AAI) airports...

IndiGo Co-founder Rakesh Gangwal is believed to have sold around 2.6 crore shares or 6.7% equity in a block deal worth over Rs 7,000 crore of the airline in a large block deal on Monday. While the stock fell initially, it traded around 2% higher at Rs 3,156 on BSE in the late morning session. Details of the transaction would be known only in the evening hours when exchanges release bulk and block deals data. Bloomberg reported that Gangwal had offered the shares at a floor price of Rs 2,925.

₹2,000 crore for the wholly-owned unit, the people said on condition of anonymity. Antara has two lines of businesses–Assisted Care services, including Care Homes, Care at Home, MedCare Products and AGEasy; and independent residences for seniors. The company is in the process of setting up multiple communities and care facilities across different regions of India.

Singtel) has sold a 0.8% stake in Bharti Airtel to US investment firm GQG Partners for about ₹5,884.8 crore (S$950 million) as part of its value unlocking strategy and to raise funds for other ventures like data centres. Singtel, through its wholly-owned subsidiary Pastel, sold 49 million shares of Bharti Airtel at ₹ 1,193.7 apiece. Shares of Airtel touched a 52-week high of ₹1,213.05 apiece on the BSE on Thursday. They closed nearly 1% higher at ₹ 1,203.50 apiece.

The shares were disposed of at an average price of Rs 1,912.04 apiece, taking the deal size to Rs 1,778.19 crore.

Mint. The sale, estimated to be worth ₹3,730 crore ($450 million), will see the offer floor price set at ₹2,925 per share, a 5.8% discount to the last closing price of ₹3,105.7 apiece on the NSE.

By Pesha Magid, Yousef Saba and Clauda Tanios

BENGALURU : Bengaluru: Multinational companies (MNCs) have been selling stakes in their Indian businesses citing high market valuations to use the proceeds for a host of purposes including debt repayment. Over the last month, Conagra Brands announced the sale of its controlling stake in India’s Agro Tech Foods (ATFL), long-time investor British American Tobacco (BAT) indicated it would sell a partial stake in ITC while Japan's Sumitomo Wiring Systems sold 4.4% stake in Samvardhana Motherson International.

Bharti Airtel for S$950 million (or $711 million) to United States-based investment firm GQG Partners, as per a Reuters report. This move is part of Southeast Asia's largest telecom operator's ongoing capital recycling efforts, marking a total of S$8 billion since its strategic reset in 2021. Airtel and GQG Partners did not respond to queries, the report added.

Japan’s Daiwa Securities has decided to acquire a 10% ownership stake in Singapore-based crypto startup Penguin.

PMSL) has initiated a secondary sale of shares in the company as the “family is looking for liquidity for specific needs”, the automobile manufacturer said in a filing with the stock exchanges on Wednesday. The company made the filing as a clarification to a news item on the sale of shares by its promoters. “Post transmission of shares of PMSL held by the former chairman of M&M, late Mr Keshub Mahindra (who passed away on 12th April 2023), to his family members, the family is looking for liquidity for specific needs, and hence proposes to sell a small number of shares held by PMSL in M&M,” the filing said. “The family shall continue to retain the status of the promoter group of M&M and there is no intention to sell further shares in the foreseeable future.”