SHAREHOLDERS
Fairfax Group to sell a 9.72% stake in CSB Bank via block deal
FIH Mauritius Investments is likely to sell a 9.72% stake in CSB Bank on Thursday through block deals to raise about Rs 595 crore. According to the term sheet issued by the banker IIFL, FIH Mauritius is expected to sell 1.68 crore shares in the Kerala-based bank at a floor price of Rs 352.4 per share.
Happiest Minds shares tumble over 9% on promoter stake sale buzz
Happiest Minds shares decline 9.5% as Ashok Soota likely sells 6% stake, 91.3 lakh shares. Q4FY24 PAT up 24.8%, revenue grows 9.5% YoY. Trading in overbought zone near 71 RSI level.
Big US banks expected to be cautious on shareholder payouts
Big U.S. lenders brace for Fed stress tests evaluating capital resilience in economic hardships, impacting returns to investors amid challenges in regional lending and commercial real estate.
NCLT approves Raymond group entities’ strategic demerger, amalgamation
The National Company Law Tribunal (NCLT) has approved Raymond’s composite scheme of arrangement and restructuring, involving the demerger of its lifestyle business and the amalgamation of its consumer trading arm. The approval paves the way for a focused and streamlined corporate structure, separating Raymond Ltd and Raymond Lifestyle, with the integration of Ray Global Consumer Trading. Shareholders will receive equity shares based on the swap ratio post-restructuring.
Sebi orders Religare to apply for open offer before July 12
Sebi directs Religare Enterprises to obtain approvals from all regulators by July 12 for Burman family's open offer to buy more shares. The regulator's order challenges Religare's management, led by Rashmi Saluja, who opposes the Burmans' bid to increase their stake in the company.
Sebi asks Religare Enterprises to apply for regulatory approval for open offer by Burman Group
The Burmans, who founded and control consumer goods conglomerate Dabur India, raised its stake in Religare to nearly 25% in September last year, triggering the so-called open offer requirement that allows them to buy more shares from public shareholders.
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ZF Commercial Vehicle shares tumble over 8% after Wabco Asia sells stake via block deal
Shares of ZF Commercial Vehicle Control Systems fell by 8.2% on BSE after Wabco Asia sold a 7.6% stake worth Rs 2,287 crore via a block deal, with Citigroup as the banker.
Musk plans stock option grants to Tesla's high-performers: Report
Elon Musk plans to introduce stock-based compensation at Tesla following shareholder approval of his $56 billion pay plan. The company aims to provide stock option grants for exceptional performance and award spot option grants for outstanding contributions amidst sales slowdown and intensifying price competition from Chinese rivals.
Elon Musk wins back his huge Tesla payday in shareholder vote
Tesla shareholders voted to reinstate CEO Elon Musk's $44.9 billion pay package, previously rejected by a Delaware judge. The package remains tied up in court as Tesla appeals the decision.
Shareholders have okayed move: Musk
Tesla shareholders voted in favor of a $56 billion pay package for Elon Musk and to relocate the company's legal home to Texas, as announced by the CEO on social media.
What clearing vendor dues via equity means for firms
Vodafone Idea's board approved preferential allotment of equity shares to Nokia and Ericsson to clear dues. Vi's vendor ATC Telecom also benefitted from stock market gains. Vi's move to dilute equity for debt repayment is uncommon in listed companies.
Elon Musk says Tesla shareholders voting yes for his $56 billion pay package
Tesla shareholders are voting on a $56 billion pay package for Elon Musk and to relocate the company's legal home to Texas. The vote outcome will be announced at a meeting in Texas on Thursday.
Tesla shareholder sues Musk to return billions in alleged unlawful profits
Lawsuit accuses Elon Musk of making billions by selling Tesla stock using insider information.
Mphasis promoter entity pares 15% stake for Rs 6,735 crore
Blackstone, promoter of Mphasis, divested a 15.08% stake in the IT and consulting firm for ₹6,735 crore through an open market transaction on the NSE.
EIH Associated Hotels shares rally 17% ahead of bonus shares issue plan
EIH Associated Hotels surged 17% to Rs 845 on BSE as it plans to issue bonus shares. The company's strong performance is evident from Trendlyne data. It is part of The Oberoi Group, known for luxury hotels and various services.
HDFC AMC announces dividend of Rs 70 per share for FY 24
On Friday, during its meeting, the board of directors of HDFC Asset Management Company (HDFC AMC) declared an interim dividend of Rs 70 per share for its eligible shareholders.
Sebi slams ICICI’s canvassing for I-Sec delisting
Sebi reprimanded ICICI Bank for conducting an outreach programme to influence ICICI Securities shareholders during the voting on delisting. Sebi directed ICICI Bank to examine complaints and take action against violations.
ITC Hotels to have a net worth of Rs 10,000 crore and debt-free balance sheet
As of March 2024, ITC Hotels' capital structure stood at approximately Rs 207.85 crore. However, this figure may see slight adjustments on the listing day due to the issuance of shares under the ESOP scheme, according to Puri. This information was shared with shareholders on Thursday during an NCLT-convened audio-visual meeting of ITC Ltd shareholders concerning the demerger process.
Sebi warns ICICI Bank over outreach program for I-Sec delisting, calls action 'inappropriate'
In an administrative warning issued on Thursday, SEBI directed ICICI Bank to thoroughly examine the complaints received directly or through the SCORES portal for any violations of the guidelines of the outreach program by officials of the bank and take appropriate action against such officials.
Sebi warns ICICI Bank over outreach for ICICI Securities delisting
Despite the bank's claim that their outreach program was solely educational and aimed at maximising shareholder participation, SEBI found evidence to the contrary. Investor complaints reveal that some bank officials exceeded their mandate by making persistent calls and requesting screenshots of voting, suggesting a concerted effort to influence shareholder decisions.
ITC shareholders approve demerger of ITC Hotels with 99.6% majority
At a meeting held on Thursday, an overwhelming majority of 99.6% of shareholders approved the resolution of demerger of the hotels business of ITC Limited into ITC Hotels Limited.
Aramco kicks off giant share sale in test of investor appetite
Saudi Arabia is looking to attract more international shareholders after Aramco’s mega IPO five years ago turned out to be largely a local affair. Investors will need to weigh a $124 billion annual dividend payout, one of the world’s heftiest, against shares that are far more expensive than other energy supermajors. Government control and the demand outlook for oil in the face of climate change also present long-term risks.
Tesla shareholder sues Musk for alleged $7.5 billion insider trading
A Tesla shareholder filed a lawsuit accusing CEO Elon Musk of insider trading by selling over $7.5 billion of Tesla shares before disappointing production numbers were public.
Rekha Rakesh Jhunjhunwala earns Rs 224 crore dividend from Rs 38,000 crore portfolio in March quarter
Rekha Jhunjhunwala likely earned Rs 224 crore dividend from her Rs 37,831 crore portfolio in the March quarter, including from companies like Titan Company, Canara Bank, and Valor Estate. She holds stakes in various companies and saw changes in shareholding in Agro Tech Foods and Nazara Technologies.
Minority shareholders to benefit from ITC Hotels demerger: Proxy advisory firms
"The structure will enable ITC Hotels to operate with an optimal capital structure with the ability to access capital to fund its growth requirements.
ITC Demerger: IiAS advises shareholders to vote against splitting of hotels business
IiAS does not see any substantial value unlocking for ITC’s hotel business and thus recommends shareholders to vote against the proposed demerger of the business. The advisory firm called it a lack of clarity on the part of the board of directors on the plan for the 40% holding in the hotels business.
ITC to seek shareholder approval on June 6 for hotels biz demerger
As part of the demerger, which will unlock value for its 36 lakh shareholders and also improve the capital allocation of the parent company, ITC will own 40% of ITC Hotels. The remaining 60% will be owned by ITC shareholders in proportion to their ownership in the parent entity.
Jio Financial seeks shareholders approval for up to 49% foreign equity investments
Among the public shareholders, foreign investors own about 19% stake in the company and mutual funds are holding 4.74%, according to the latest shareholding data available with the exchanges.
Debt, equity holders approve merger of IDFC with IDFC First Bank
"We wish to inform that the resolution approving the Scheme was passed by the overwhelming majority of 99.95 per cent of the equity shareholders, representing more than three-fourths in value of the equity shareholders of the bank voting through remote e-voting and e-voting during the meeting, in terms of the provisions of Sections 230-232 of the Companies Act, 2013," the lender said.
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