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News on Medial
GR Infra shares fall as promoters to sell stake to meet shareholding norms
Money Control
·
1y ago
Medial
Shares of GR Infraprojects dropped nearly 4% as some promoters look to sell up to 5% equity in the company to comply with minimum public shareholding norms. The promoters intending to divest their holding of around 48.34 lakh shares include Laxmi Devi Agarwal, Suman Agarwal, Ritu Agarwal, Lalita Agarwal, and Kiran Agarwal. The stake sale will take place through open market transactions and will not involve any acquisition of shares during the sale period.
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JSW Infra Shares Retreat 3% After Promoters Likely Sell 2% Stake Worth Rs 1,239 Crore
OutlookIndia
·
2m ago
Medial
Shares of JSW Infrastructure fell nearly 3% due to a block deal worth Rs 1,239 crore, involving the likely sale of a 2.03% stake by the company’s promoters, the Sajjan Jindal Family Trust. This move is part of efforts to comply with SEBI’s minimum public shareholding requirements. The transaction, carried out at a discount to the previous closing price, involved approximately 4.26 crore shares. The company aims to increase compliance by March 31, 2026.
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UltraTech Cement must divest 7% stake in India Cements to meet SEBI norms
Economic Times
·
1m ago
Medial
UltraTech Cement must divest approximately 7% of its stake in India Cements, valued at over ₹667 crore, to comply with SEBI's minimum public shareholding norms. This requirement follows an oversubscribed open offer that increased its stake beyond regulatory limits. According to SEBI regulations, publicly listed companies must maintain at least 25% public shareholding, and India Cements has until February 3, 2026, to meet this requirement through secondary sales or rights issues.
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Vedanta block deal: 2.2% equity stake sold for Rs 2,255 crore, GQG likely buyer; stock falls
Money Control
·
1y ago
Medial
Shares of Vedanta Resources fell on NSE on February 15 after 8.2 crore shares changed hands in block deals. The promoters were reportedly looking to sell stake worth $1 billion in the company to investment firm GQG Partners. Around 2.2 percent equity stake worth Rs 2,255 crore in Vedanta Ltd changed hands in the transactions. The news comes as Vedanta faces substantial outstanding debt of $6.4 billion.
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Adani Group to sell stake in joint venture to Wilmar for $1.4 bn
VCCircle
·
7m ago
Medial
The Adani Group plans to sell its stake in Adani Wilmar to joint venture partner Wilmar International for $1.44 billion, aiming to focus more on infrastructure projects. Adani Enterprises will divest a 13% stake to meet India's minimum public shareholding requirements. Wilmar will acquire Adani's remaining 31% stake at a maximum price of 305 rupees per share. Proceeds will support growth in core infrastructure sectors, subject to regulatory approvals.
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Zaggle raises stake in Mobileware with ₹7.25 cr investment
Inshorts
·
4m ago
Medial
Fintech SaaS company Zaggle has acquired 4,622 equity shares for ₹7.25 crore from Mobileware's promoters, gaining a 12.34% stake on a fully diluted basis. Zaggle’s total shareholding in Mobileware now stands at 38.34%, up from 26%. The acquisition will help Zaggle develop new solutions for lending, credit, and card management using Mobileware’s UPI switch technology.
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Cipla promoters plan to sell 2.53% stake
Livemint
·
1y ago
Medial
Promoters of Cipla Ltd, including Shirin Hamied, Samina Hamied, Rumana Hamied, and Okasa Pharma Pvt. Ltd, are planning to sell 2.53% of their stake in the company. They are offering to sell up to 20.45 million shares, with an estimated value of ₹2,637 crore ($316 million). The sale is being managed by Kotak Securities Ltd. This move comes as Cipla's stock price has seen significant growth, with a 45% increase year-to-date.
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Domestic investors, mutual funds increase stake in Paytm
Economic Times
·
1y ago
Medial
According to the latest shareholding pattern, domestic mutual funds have increased their stake in Paytm. Mirae Mutual Funds and Nippon Mutual Funds are among the funds that have increased their stake in the company. Domestic retail investors also increased their shareholding in Paytm, while SoftBank reduced its stake. The founder of Paytm, Vijay Shekhar Sharma, entered into an agreement with Ant Financial to buy a stake in the company. The cost of funds for fintechs and NBFCs is expected to go up due to new regulatory norms.
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Suzlon Shares in Focus: Promoters Likely to Offload Rs 1,295-Cr Stake via Block Deal at 3% Discount
OutlookIndia
·
2m ago
Medial
Promoters of Suzlon Energy plan to sell 20 crore shares of the company, reducing their stake from 13.25% to 11.8%. The shares rose nearly 3% during pre-open trade ahead of this Rs 1,295 crore block deal, which offers a 3% discount on the closing price. Suzlon's recent financial performance showed a significant profit increase, attributed to tax gains, and a strong core operational performance, with a 73% revenue jump.
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Jubilant Group Promoters Sell Shares Worth Rs 1,801 Crore
OutlookIndia
·
1m ago
Medial
Jubilant Group promoters, including Jubilant Consumer, sold shares worth Rs 1,801 crore through separate market deals. Jubilant Consumer offloaded 1.06 crore equity shares of Jubilant FoodWorks Ltd, reducing their stake from 41.94% to 40.33%. Promoter entities of Jubilant Ingrevia sold a 6.2% stake, and Jubilant Pharmova's promoters offloaded a 2.06% stake. Buyers included Societe Generale, Morgan Stanley, and various mutual funds. Jubilant Ingrevia's shares rose, while Jubilant Pharmova's fell in value.
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No plans to sell SUUTI stake in ITC, says DIPAM Secy
Livemint
·
1y ago
Medial
The Indian government has confirmed that it has no current plans to sell its stake in ITC, despite British American Tobacco (BAT) reducing its stake in the company through a block deal. As of December 31, 2023, the government's Specified Undertaking of Unit Trust of India (SUUTI) holds around 7.82% stake in ITC. BAT has announced plans to sell up to 3.5% stake in ITC to institutional investors, which will decrease BAT's shareholding to 25.5%. BAT has had a longstanding relationship with ITC since the early 1900s.
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