Mobility paves Samsung’s silver path
The Korean giant’s early bet on mobile phones helped it hit the $10-bn mark in India, but in its 25th year it ...
AU SFB cuts stake in Aavas Fin
AU Small Finance Bank Ltd on Monday sold 35 lakh shares of Aavas Financiers Ltd worth Rs 530 crore through an open market transaction.
According to bulk deal data available on the BSE, AU Small Finance Bank offloaded 35 lakh shares at an average price of Rs 1,515.16 a share, valuing the deal size at Rs 530.30 crore.
While Nomura India Investment Fund Mother Fund bought 9 lakh shares, SBI Life Insurance Company Ltd bought 6.6 lakh shares at a price of Rs 1,515 each, as per the data. However, the details of others buyers are not known.
With this AU SFB has almost completely exited from Aavas Financiers.
Ingersoll Rand: Stake sale at a discount may weaken stock
Ingersoll Rand India Ltd's promoter Ingersoll-Rand Inc will sell up to 14.3 lakh shares of the company, representing 4.52 per cent stake, through an offer for sale. The floor price has been set at Rs 578.60 a share, the company said in an exchange filing.
The floor price is at a steep discount of about 12 per cent to Monday's closing price of Rs 656.45 on the NSE.
The OFS will open on Tuesday for non-retail investors, and on Wednesday for retail and non-retail investors, who can choose to carry forward their bids through sale on a separate window provided by BSE Ltd.
A minimum 10 per cent of the offer for sale has been reserved for retail investors.
Ingersoll-Rand Inc currently holds 5.52 per cent stake in the company.
International Conveyers’ open offer begins today
An open offer from IGE (India) Private Ltd, along with persons acting in concert Rajendra Kumar Dabriwala, Surbhit Dabriwala, Yamini Dabriwala, RCA Ltd, Dabri Properties And Trading Company Ltd, Pushpa Bagla, Ritu Dalmia, Smiti Somay and Sujata Saraf to the shareholders of International Conveyors Ltd to acquire up to 81 lakh shares representing 12 per cent of the total equity and voting share capital of the target company, at a price of Rs 33.
Shareholders will closely monitor the response to the issue.
Please Email the Editor