News of Stake Sale in Gujarat

ULTRATECH CEMENT to divest its stake in Emirates Cement (Bangladesh), Emirates Power Co

MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory filing submitted to the Indian Stock Exchanges, Mumbai headquartered Indian Cement manufacturing arm of Aditya Birla Group – UltraTech Cement Ltd said of its Middle East subsidiary will divest its entire shareholding in Emirates Cement Bangladesh Ltd and Emirates Power Company Ltd, for an enterprise value

LUPIN inks pact to divest its stake in KYOWA PHARMA (Japan) to UNISON CAPITAL

MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory filing submitted to the Indian Stock Exchanges, Mumbai headquartered pharmaceuticals company Lupin Ltd said of the company board having approved the divestment of its entire stake of 99.82% in Kyowa Pharma – Japan to Unison Capital for an enterprise value of JPY (Japanese Yen) 57,361 million.

COCHIN SHIPYARD acquires unlisted subsidiary HOOGHLY COCHIN SHIPYARD

COCHIN | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory filing submitted to the Indian Stock Exchanges, Cochin headquartered ship-building company Cochin Shipyard Ltd said of having acquired its unlisted subsidiary company Hooghly Cochin Shipyard Ltd from Hooghly Dock & Port Engineers Ltd for consideration of 50 million (~5.06 crore) rupees. The filing submitted

BERGER PAINTS acquired 96% stake in STP Ltd for 1.68 billion rupees

KOLKATA | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a press-release submitted to the Indian Stock Exchanges, Kolkata headquartered Berger Paints (I) Ltd said of having acquired 95.53% stake in STP Ltd for an enterprise valuation of 1.68 billion (~167.5 crore) rupees, of which the Company has till now acquired 91.94% of the paid-up equity

JITF INFRALOGISTICS divests 49% stake in JWIL INFRA, to a promoter group co

NEW DELHI | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory update submitted to the Indian Stock Exchanges, New Delhi headquartered Jindal Group Companies’ infra-logistics arm – JITF INFRALOGISTICS LTD said of one of its subsidiary company having entered into share purchase agreement to divest 49% stake in JWIL Infra Ltd to another promoter

Promoters inter-transfer 21.15% stake in IGARASHI MOTORS INDIA

CHENNAI | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory update submitted to the Indian Stock Exchanges, Chennai headquartered automobile parts & equipment manufacturing company Igarashi Motors India Ltd said of its 21.15% promoters stake comprising of 6.6 million (~‭66,58,033) ‬acquired by Igarashi Electric Works Ltd, Japan and Agile Electric Sub Assembly Pvt Ltd

M&M Financial Services acquired 58.20% stake in Sri Lankan Finance Company

COLOMBO (SRI LANKA) | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory filing submitted to the Indian Stock Exchanges, Mumbai headquartered Indian Auto Major Mahindra & Mahindra Financial Services Ltd said of having acquired 58.20% stake of a finance company in Sri Lanka. The filing submitted by the company to the Indian Bourses and

JK Tyre raises 5% stake in Cavendish Industries paying Rs.400 mln

NEW DELHI | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory update submitted to the Indian Stock Exchanges, JK Tyre & Industries Ltd said of having raised its stake in Cavendish Industries Ltd from 80% to 85% paying 40 crore (~400 million) rupees The statement submitted to the Indian Bourses read that, Directors of

KNR Cons to sell-off KNR Shankarampet Projects to Cube Highways & Infra

HYDERABAD | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory filing submitted to the Indian Stock Exchanges, Hyderabad headquartered KNR Constructions Ltd said of having entered into an agreement with Cube Highways & Infra for sale of KNR Shankarampet Projects, in phased manner. The statement submitted by the company to the Indian Bourses read

Bhoruka Supply Chain buys additional 0.20% promoters group stake in TCI

SECUNDERABAD | MUMBAI | AHMEDABAD-GANDHINAGAR-RAJKOT – In a regulatory filing submitted to the Indian Stock Exchanges, Indian logistics major Transport Corporation of India (TCI) Ltd said of 1,50,000 shares owned by Ms Chandrima Agrawal, part of promoters group has been acquired by Bhoruka Supply Chain Solutions Holdings Ltd. The statement further read that on acquisition

Info Edge (India) stake in Agstack Technologies reduced by 3%

NOIDA | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory update submitted to the Indian Stock Exchanges, Noida headquartered Info Edge (India) Ltd said of reducing its stake in Agstack Technologies Pvt Ltd from 37.21% to 33.21%, as Agstack Technologies has signed agreement to raise funds from a couple of other investors. The filing

GTPL Hathway acquires SOCD18 Networking (TV Cable Network in Maharashtra)

AHMEDABAD | MUMBAI | RAJKOT – In a regulatory filing submitted to the Indian Stock Exchanges, Gujarat headquartered television cable company GTPL Hathway Ltd said of having acquired 100% stake of  SCOD18 Networking Pvt Ltd on August 5, 2019 paying 11.20 crore (~112 million) rupees. The statement submitted by the company read that, GTPL Hathway

Reliance invests 2.95 bln INR, to buy 87.6% stake in an E-Comm Software Firm

MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory update submitted to the Indian Stock Exchanges, Indian Conglomerate – Mukesh Ambani led Reliance Group (Reliance Industries Ltd) said of one of its subsidiary companies having brought 87.6% stake in a software technology company for e-commerce, investing 295.25 crore rupees. The statement submitted by the company

Exaxe Holdings becomes a wholly-owned direct subsidiary of Majesco (USA)

MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory update submitted to the Indian Stock Exchanges, Mumbai headquartered Information Technology major – Majesco Ltd said of Exaxe Holdings, Ireland becoming a wholly-owned direct subsidiary company of Majesco, USA. The statement submitted by the company to the Indian Bourses, read that, In continuation to our earlier letter

ZEE’s Debt Breather | ZEE Ent promoters sell 11% stake for 42.24 bln (~4,224 Cr)

NEW DELHI | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a press release submitted to the Indian Stock Exchanges, New Delhi headquartered Entertainment major ZEE Entertainment Enterprises Ltd said of having sold promoters 11% stake to Invesco Oppenheimer Developing Markets Fund, for 42.24 billion (~4,224 crore) rupees. The press release titled, “Essel Group Announces Stake

Prism Johnson acquires 30% stake in Sunspring Solar

HYDERABAD | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory filing submitted to the Indian Stock Market, building materials producer Prism Johnson Ltd said of having acquired 30% equity stake in Solar products company Sunspring Solar Pvt Ltd. The statement submitted to the Indian Bourses by the company read that, Company has agreed to acquire

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