PRIVATE PROMOTERS
Integrating climate finance into India's economic blueprint
Pradeep S. Mehta, Secretary-General of CUTS International, suggested that India's 2024-25 Budget should include dedicated climate finance institutions through public-private partnerships during a webinar on accelerating private investment in climate finance. Mehta stressed the importance of private sector involvement for a sustainable and resilient future, highlighting the need for collaboration, innovation, and commitment.
Promoter selling can cross Rs 1 lakh crore mark as retail investors buy using MFs
With retail investors continuing to be on a buying spree using the mutual fund route, the trend of stake sale by promoters in NSE500 companies looks on track to cross the Rs 1 lakh crore mark.
Fresh capital raised via IPOs surges to a 9-year high, hints at private capex revival
Of the ₹33,610 crore raised by 37 companies so far in 2024, about 45%, or ₹15,190 crore, were through new shares, the highest proportion since 2015, when India Inc. raised nearly 48% fresh capital, according to data from primedatabase.com. The funds raised as fresh issues in 2024 were to either finance capital assets or retire existing debt obtained to build capacities, according to IPO documents.
US fund Platinum acquires Inventia Health in India foray
Platinum Equity makes its debut in India by acquiring a majority stake in Mumbai's Inventia Healthcare. With a valuation of Rs 2,500 crore, the deal sees PE investors exiting while the promoter retains a minority stake. Platinum Equity, managing over $48 billion in assets, is well-known for its expertise in the healthcare sector.
Sebi disposes of proceedings against former Unitech promoters
The market regulator conducted a suo-moto investigation to determine if the Chandra brothers routed funds to the Indian securities market through their UBS AG bank accounts, potentially violating the Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) regulations.
Large private banks will do well over next two-three years: Sumeet Kariwala
The banks which have struggled to the asset quality cycle over there the earnings expectations are low, the valuations are depressed and to that extent from a stock market perspective the earnings upgrades as well as valuation re-rating can be quite meaningful and we have seen a lot of stocks double and triple over the last two-three years.
Global PE very active in buying out promoter stakes in listed companies: Gautam Trivedi
But my view is that it is a global product and while we have seen consumption both for defence and railways and infrastructure explode in this country, thanks to the Modi government, I still think that the overall pricing is determined by global factors.So, if prices for steel, for example, were to fall in Shanghai, that impact does come through in our markets as well.
Several firsts to Agnibaan test flight, step closer to launch small satellites: IN-SPACe chief
Agnikul Cosmos' Agnibaan rocket test flight from Sriharikota marked a significant milestone for the private space sector, using a 3D printed semi-cryogenic engine for the first time.
IRB Holding sells Rs 1,444.8 cr worth IRB Infrastructure shares
In a separate deal, Nomura India Investment Fund bought shares of IRB Infrastructure Developers worth 256.59 crore on BSE. Shares of IRB Infrastructure Developers slumped 9.9% to close at 65.5 on Thursday.
IRB Infra promoters likely to sell 4% to raise Rs 1,512 crore
The sellers have put up 240 million shares for sale with a floor price ranging from ₹63 to ₹72.7 per share. This represents a 13% discount on the lower range compared to the closing price on Wednesday.
Grasim promotor Birla Group hikes stake by 4.09% to 23.18% in company
There has been no change in the promoter/promoter group's total holding in the company, which remains at 43.06%. Shares of Grasim Industries closed at Rs 2,435.10 on the NSE on Tuesday, rising by Rs 44.45 or 1.86%. A part of the Aditya Birla Group, Grasim reported a 39% increase in its consolidated net profit for the quarter ended March 2024, excluding exceptional items. The net profit rose to Rs 1,908 crore, compared to Rs 1,369 crore in the same quarter last year.
ULIP offers huge opportunities to states for enhancing logistics ecosystem: DPIIT Secy
ULIP integrates with 37 systems via 118 APIs. Private sector participation with 900 registered companies has led to over 35 crore API transactions. DPIIT Secretary Rajesh Kumar Singh highlighted ULIP's transformative impact on the logistics sector.
Suits & Sayings: Destination Scanner
ET’s roundup of the wackiest whispers and murmurs in corporate corridors & policy parlours
Expect good response on EV policy, FDI reforms in new govt; prepare for low tariff regime: DPIIT Secretary
India anticipates a positive response from numerous automobile companies to its electric vehicle (EV) policy, according to Rajesh Kumar Singh, DPIIT secretary. He noted that the government has adjusted tariffs to attract manufacturers without direct spending. Additionally, he stated that India might further liberalize FDI norms in select areas under the new government.
Cipla promoters sell 2.53% stake for Rs 2,751 crore
"Post transaction, the entire promoter group, including persons acting in concert, continues to hold 31.67% in the company and remains committed to the future of Cipla," the company said in a statement.
Cipla promoters sell 2.53% stake for around Rs 2,600 crore
Promoters of Cipla, including Person Acting in Concert, sold 2.04 crore shares in a block deal worth around Rs 2,600 crore to create liquidity for specific needs, including philanthropy. After the stake sale, the entire promoter group holds 31.67% in Cipla, expressing commitment to the company's future.
Indian investors have reason to cheer with Kazakhstan initiating major economic reforms
Indian private investors are looking for a liberalized economic environment with fair competition in the Central Asian region. Kazakhstan being the biggest and modern economy in the region provides a platform to expand business. Kazakhstan is India’s largest trade and investment partner in Central Asia. F
Government gains PSU muscle as stocks climb peaks
The value had touched a high of 22% of total market capitalisation of listed firms in June 2009, dropping to a low of 5.1% in September 2020 before doubling since then, according to data from primeinfobase.com. Re-ratings amid large valuation discounts, high dividend yields, record cash flows and news of possible privatisation triggered a sharp rally in public sector companies over the last three years.
Haryana RERA imposes Rs 50 lakh penalty on Countrywide Promoters for misleading advertisement
Haryana's real estate regulatory authority (HRERA) in Gurugram has fined Countrywide Promoters Private Limited Rs 50 lakh for a misleading advertisement about its Green Oaks project. The ad showed amenities not part of the project, like a club and other facilities, leading to confusion among potential buyers. Despite mandatory provisions under the Real Estate (Regulation and Development) Act 2016, the promoter did not describe the details properly, violating Section 61 of the Act. The project is an affordable plotted colony at Sector 70-A, Gurugram, under Deen Dayal Jan Awas Yojna Affordable Plotted Housing Policy 2016.
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