POLICYBAZAAR BLOCK DEAL
Block deals worth over Rs 9,947 crore this week. HDFC Bank, Infosys, Adani Ports among stocks with major action
In the large cap segment, 15 companies witnessed significant block deals worth Rs 5,725 crore led by HDFC Bank with 43 block counts totalling to Rs 2,446 crore. The next in line were Adani Ports and Special Economic Zone (Rs 469 crore), Godrej Consumer (Rs 421 crore), TVS Motor Company (358 crore), Infosys (Rs 339 crore), Interglobe Aviation (Indigo, Rs 288 crore) and Maruti Suzuki (Rs 218 crore).
Block deals worth over Rs 7,640 crore this week. Chandrababu Naidu’s Heritage Foods, Adani Ports see top action
The week was an eventful one. Besides the general election results, D-Street saw some prominent block deals which included over three dozen companies from large, mid and smallcap segments. Shares worth Rs 7,640 crore were traded on screen, which included both buying and selling.
Stocks in news: Vodafone Idea, Biocon, PB Fintech, ZEEL, JSW Steel
Shares of ZEEL, JSW Steel, Godrej Industries, Glaxo and Sobha will be in focus as the companies will announce their quarterly results.
PB Fintech's top executives to offload marginal stakes; floor price at Rs 1,258
Substantial portions of the proceeds from the sale will be used to make the payment of taxes on current and future ESOP exercises. ESOPs are subject to payment of taxes on exercise in addition to the payment of capital gain tax on the sale of shares. Post the sale Yashish Dahiya will continue to have a 4.83% stake and Alok Bansal will have a 1.63% stake in PB Fintech on a fully diluted basis.
Block deals worth over Rs 12,045 crore this week. Kotak Bank, Vodafone Idea among stocks with major action
In the large cap segment, 15 companies witnessed significant block deals on the screen which were worth Rs 6,046 crore led by Kotak Mahindra Bank with 29 block counts, totalling to Rs 1,310 crore.
Block deals worth over Rs 27,500 crore this week. ITC, HDFC Bank, Zomato among stocks with significant action
In the large cap segment, 15 companies witnessed significant block deals on the screen which were worth Rs 23,532 crore led by ITC with 3 block counts, totalling to Rs 19,252 crore.
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Policybazaar shares jump 7% on IRDAI's license upgrade for PB Fintech's arm
The insurance regulator upgraded the license of the company's wholly-owned subsidiary Policybazaar Insurance Brokers Private Limited to 'Composite Insurance Broker' from 'Direct Insurance Broker'
Decoding Paytm’s compliance lapses; Temasek exits Policybazaar
The leadership of fintech firm Patym on Thursday acknowledged that it may have fallen short on compliance issues, triggering punitive action by the central bank. Neither the central bank nor Paytm founder Vijay Shekhar Sharma disclosed the exact reason for which the bank faced such stringent penal action. This and more in today's ETtech Morning Dispatch.
Temasek sells entire holding in Policybazaar for Rs 2,425 crore
According to BSE block deals data, Claymore Investments (Mauritius), a Temasek entity, sold 2.44 crore shares of PB Fintech at Rs 992.8 per share, valuing the transaction at Rs 2,425 crores.
Temasek Holdings exits PB Fintech; sells entire 5.42% stake for Rs 2,425 crore
Singaporean sovereign wealth fund Temasek Holdings on Thursday sold its entire 5.42 per cent stake in Policybazaar's parent firm PB Fintech for Rs 2,425 crore through open market transactions. Temasek Holdings' wholly-owned subsidiary Claymore Investments (Mauritius) Pte Ltd sold the shares of PB Fintech in three tranches on the BSE.
RBI's draft rules on fintech SRO; Pixxel unveils mega facility
The main idea behind the guidelines is to empower the fledgling sector to function and innovate responsibly even in the absence of formal regulations.
Rs 8,800-crore worth block deals take place this week; ITC, Vodafone Idea among stocks with significant action
In the largecap segment, 15 companies witnessed significant block deals which were worth Rs 5,729 crore, led by Kotak Mahindra Bank.
Softbank takes home Rs 914 crore via 2.5% stake sale in PB Fintech
This is the second sale in two months, and this time the investment major accrued a higher profit, thanks to the rally in the market. In October, Softbank had sold 2.5% stake in the owner of Policybazaar for Rs 871 crore.
Softbank divests 2.5 per cent stake in PB Fintech worth Rs 914 crore
Softbank's subsidiary, Svf Python II (Cayman), has divested a 2.5% stake in PB Fintech, the parent company of Policybazaar, for Rs 914 crore (approximately $122 million) through open market transactions. The shares were sold to various buyers, including HDFC Mutual Fund, Mirae Asset Mutual Fund, ICICI Prudential Life Insurance, and others. Following the share sale, PB Fintech's shares fell 2.31% to close at Rs 789.45 apiece on the BSE.
PB Fintech shares jump 6% on likely block deal
PB Fintech shares have rallied over 80% in the last 12 months and have outperformed Nifty which has returned over 15% during this period. The stock is currently trading above its 50-day and 200-day simple moving averages (SMAs).
Block deals worth over Rs 25,200 crore take place this week; RIL, Airtel among stocks with significant action
In the largecap segment, 15 companies witnessed significant block deals on the screen which were worth Rs 12,612 crore led by Reliance Industries (RIL) with a 12 block count, totalling to Rs 2,874 crore. The next in line were Bharti Airtel (Rs 1,769 crore), HDFC Bank (Rs 1,757 crore), Zomato (Rs 1,208 crore), Adani Total Gas (Rs 1,019 crore), Tube Investments (Rs 944 crore), ICICI Prudential (Rs 705 crore) and ICICI Bank (Rs 589 crore).
Q2 a very strong quarter for IT deal wins, has potential for bounce-back in FY25: Ashi Anand
“We expect to see digital platforms in India outperform overall markets over the coming decade in a very similar way to what you saw the Nasdaq do over the overall markets in the US between 2010 to 2020. Therefore our call is not to go in and out of the sector. We see this as a very attractive buy and hold and a long-term compounding story.”
Rs 11,000 crore worth block deals take place this week; HDFC Bank, Suzlon see significant action
In the largecap segment, 15 companies witnessed significant block deals worth Rs 6,668 crore, led by HDFC Bank with a 49 block count, totalling Rs 2,963 crore. The next in line were Axis Bank (Rs 785 crore), Kotak Mahindra Bank (Rs 603 crore), Cholamandalam Investment & Finance Company (Rs 325 crore) and UltraTech Cement Company (Rs 325 crore).
SoftBank sells 2.5% stake in PB Fintech for Rs 869 cr; Goldman Sachs, Nomura among buyers
SoftBank which was one of the early investors in India's tech companies, has been gradually paring stakes in the firms. Earlier in August, it had sold 1.17% in Zomato through bulk deals. Prior to that in July, SoftBank had offloaded about 2% stake in Paytm. In May, SoftBank sold 2.07% stake in the fintech major through a series of open market transactions.
Japan’s SoftBank Group likely sells 2.5% stake in PB Fintech via block deal
Kotak Mahindra Capital is the banker handling the share sale, reports said. As of June-end, SoftBank, through its entity SVF Python II ( Cayman) Ltd, held a 4.39% stake in PB Fintech.
SoftBank likely to sell shares worth up to $105 million in PB Fintech: report
The indicative price for the block deals is likely in the range of Rs 752 to Rs 767 per share, the report said.
Japan’s SoftBank Group to sell 2.5% stake in PB Fintech via block deal: Report
The Japanese conglomerate is likely to offer the stake at a price range of Rs 752-767 per share, which implies up to 2% discount to Thursday’s closing price of Rs 767 of the stock
Nykaa shares fall over 2% on reports of block deal
Shares of Nykaa saw a decline of over 2% in intraday trading due to likely block deals. The stock has recorded a muted performance this year, falling nearly 7% on a year-to-date basis. However, experts believe there is nothing fundamentally wrong with Nykaa's business and consider it a better long-term investment option compared to Paytm. Kotak Institutional Equities has a 'Buy' tag on the stock with a price target of Rs 210, highlighting the healthy growth trajectory of Nykaa's beauty and personal care categories. Jefferies also expects strong growth for Nykaa in the coming years.
Softbank sells 5.1% stake in Policybazaar for Rs 1,043 crore
SVF India offloaded 2,28,42,424 shares, amounting to 5.08% stake in the company
Softbank sells 5.1 % stake in Policybazaar for Rs 1,043 crore
The shares were offloaded at an average price of Rs 456.4 apiece, taking the transaction value to Rs 1,042.52 crore.
PB Fintech rallies 6% amid bulk deal buzz
According to NSE data National Stock Exchange (NSE), 61.19 lakh shares worth Rs 291.46 crore were traded as of 11.30 am. On BSE, 3.57 lakh shares amounting to Rs 17.07 crore exchanged hands, but block deal data is yet to come.
SoftBank likely to sell 5% stake in PB Fintech
As of September 2022, SoftBank held a 10.17% stake in the company that operates the online insurance aggregator. The sale will almost halve this stake. SoftBank and Citigroup, the sole book runner for the deal, did not respond to ET's queries till press time Thursday.
Softbank Group to sell 5% stake in PB Fintech on Friday: Reports
Through the sale, Softbank aims to raise Rs 1,000 crore. It is likely to sell 2.2 crore shares via block deal
ET Startup Awards 2022: All the details
The winners of the 2022 edition of the Economic Times Startup Awards, which recognise and celebrate excellence in the Indian startup ecosystem, have been decided.
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