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News on Medial
Vedanta to offload Rs 7,500 cr worth stake in Hindustan Zinc via block deals: Report
Economic Times
·
1m ago
Medial
Vedanta plans to sell shares worth Rs 7,500 crore in Hindustan Zinc Ltd via block deals, potentially at a discount of up to 10%, managed by DAM Capital and Citi. Vedanta currently holds a 63.42% stake in Hindustan Zinc. Concurrently, Hindustan Zinc approved a Rs 12,000 crore capital expansion plan to establish a 250,000-tonne per annum integrated zinc metal complex in Rajasthan, aiming to double its production capacity in zinc, lead, and silver.
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Peak XV, Bisque, link to offload ₹583 cr stake in Awfis
Inshorts
·
7m ago
Medial
VC major Peak XV Partners, Mauritius-based investment firm Bisque Limited, and Delhi-based Link Investment Trust reportedly plan to offload Awfis' shares worth ₹583 crore. Citing sources, CNBC-TV18 reported that the three investors will together offload a 12.2% stake, or 85.8 lakh shares, in the flexible workspace solutions company via a block deal.
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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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Antfin Singapore to sell Zomato shares worth ₹3,420 cr: Report
Inshorts
·
11m ago
Medial
Antfin Singapore Holding, an arm of Alibaba Group, is planning to sell 1.54% stake in Zomato worth ₹3,420 crore, through block deals, reported CNBC-TV18. Antfin had 4.3% stake in Zomato as of June 30, 2024, the National Stock Exchange data showed. The floor price for the block deals has been fixed at ₹251.68 per share, the report added.
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Government rejects Vedanta-controlled Hindustan Zinc's plan to split company
VCCircle
·
1y ago
Medial
The Indian government has rejected Hindustan Zinc's plan to split the company into separate units, stating that it is not convinced that this move would benefit shareholders. Hindustan Zinc, a company controlled by Vedanta, had proposed creating separate entities for its zinc, lead, silver, and recycling businesses, but did not consult with the government. The government, which holds a nearly 30% stake in Hindustan Zinc, has raised objections and questioned the rationale behind the split. Hindustan Zinc's CEO believes that the split would enhance the company's market capitalization.
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Govt to take decision on Hindustan Zinc OFS after testing market: Mines Secretary
Money Control
·
1y ago
Medial
The Indian government is considering selling its stake in Hindustan Zinc through an offer for sale (OFS) after testing the market, according to Mines Secretary V L Kantha Rao. The government currently owns a 29.54% stake in the Vedanta group firm. The decision comes after the mines ministry rejected Hindustan Zinc's demerger plan. The company had planned to spin off its businesses into separate entities to increase its market capitalisation. The government was given permission by the Supreme Court in 2021 to disinvest its remaining stake in Hindustan Zinc in the open market.
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Hindustan Zinc gets over ₹91 crore GST demand, Company plans legal challenge
Livemint
·
1y ago
Medial
Hindustan Zinc Limited (HZL), a subsidiary of Vedanta Ltd, has been ordered by the Central Excise and CGST Commissionerate to pay ₹91.9 crore in GST along with penalty and interest. The company plans to challenge the order in the High Court. Furthermore, HZL's restructuring plan to create separate entities for silver and zinc may be put on hold as the government, which holds a 29.54% stake in the company, is hesitant about the proposal. HZL is a leading producer of zinc, lead, and silver.
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ITC Shares Tumble 5% After BAT Likely Offloads Equity Worth Rs 13,344-Cr Via Block Deal
OutlookIndia
·
2m ago
Medial
ITC shares fell nearly 5% after a major block deal saw British American Tobacco (BAT) offload a 2.57% stake worth Rs 13,344 crore. This move is consistent with BAT’s previous offloading of a 3.5% stake in ITC in 2024. Despite the sale, BAT remains ITC’s largest shareholder with a 23.1% stake. Post-transaction, BAT increased its 2025 share buyback programme by £200 million, maintaining its financial guidance.
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Zomato sees INR 1,127 Cr block deal, SoftBank likely seller
Inc42
·
1y ago
Medial
In a recent block deal, around 1.06% stake or 9.35 Cr shares of Zomato were exchanged, fetching a total transaction value of INR 1,127 Cr. The buyers and sellers in the deal remain undisclosed. Japanese tech investor SoftBank's SVF Growth is also reportedly looking to offload another 1.1% stake in Zomato, worth $135 Mn. Zomato shares were trading at INR 123.6 apiece, showing a 1.3% increase from its previous close.
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Honasa consumer sees INR 238 Cr block deal, stocks tank after early gains
Inc42
·
1y ago
Medial
Honasa Consumer Ltd, the parent company of direct-to-consumer brands Mamaearth and The Derma Co, witnessed a block deal resulting in the exchange of around 2% stake or 62.90 lakh shares. The deal, worth INR 238 crore, occurred after market opening, causing the company's shares to trade at INR 379 apiece on the BSE, down 1% from the previous day's closing price. This follows reports of venture capital firm Fireside Ventures planning to offload a 1.9% stake in Honasa Consumer.
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Vedanta, China's Zijin Group part of $9-bn metals deals in Saudi Arabia
VCCircle
·
8m ago
Medial
Saudi Arabia has entered into nine investment deals worth over $9 billion in the metals and mining sector with companies including Vedanta and Zijin Group. The deals were announced as part of the kingdom's efforts to diversify its economy and reduce dependence on fossil fuels. Vedanta plans to invest 7.5 billion riyals in building a copper facility, while Zijin Group will invest 5-6 billion riyals in a zinc smelter and lithium carbonate extraction facility. Additionally, Australia's Hastings Technology Metals and Canada's Platinum Group Metals are also investing in rare earth processing and platinum group metals refining, respectively.
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