Invesco Developing Market Funds has decided to reduce its stake in the Zee Entertainment Enterprises Ltd, via a block deal on April 7. Invesco, which currently holds 17.88 per cent stake in Zee, will offload up to 7.8 per cent of its equity. by selling 7.4 crore shares in a price range of ₹270-290 per share.

IDFC Limited and a consortium comprising Bandhan Financial Holdings Limited, GIC and ChrysCapital have entered into a definitive agreement to acquire IDFC Asset Management Company Limited and IDFC AMC Trustee Company Limited from IDFC Limited, for a consideration of ₹4,500 crore subject to receipt of necessary regulatory approvals and customary closing conditions.

Union Bank of India has executed an agreement for sale of its eight per cent stake in India SME Asset Reconstruction Company Limited in favour of Dhansamridhi Finance. The stake sale is subject to obtaining requisite regulatory approvals, it said. Similarly, Bank of Baroda too executed agreement to sell its 14 per cent stake in ISARC.

Choice International Ltd has received the approval from National Stock Exchange of India Limited for listing and trading of all the existing securities (4.97 crore shares) on the Main Board Platform of the stock exchange from April 8.

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Motherson Sumi Systems Limited has successfully completed the acquisition of a majority stake in CIM Tools Private Limited. As announced earlier, MSSL has acquired a 55 per cent stake in CIM Tools Private Limited (CIM). CIM, in turn, holds 83 per cent in Aero Treatment Private Limited (ATPL) and 49.99 per cent in Lauak CIM Aerospace (JV with Lauak International, LCA). CIM, ATPL and LCA are hereinafter referred to as "CIM Group". The three founders — Srikanth GS, Umesh AS and Vishwanath Deshpande — retain the remaining 45 per cent stake in CIM.

The board of Asian Granito has approved ₹441-crore right issue. It plans to issue about 7 crore fully paid-up equity shares each at ₹63 a share. The record date has been fixed as April 12 for the purpose of determining the names of the equity shareholders who would be eligible to receive the rights entitlement. The ratio has been fixed as 30:37 (37 shares for every 30 held). The issue will open on April 25 and end on May 10.

Inflame Appliances Limited, a leading manufacturer of home and kitchen appliances, has announced the most prestigious first trial order for 2,500 chimneys from Green Life Appliances, adding one more milestone to its expansion.

Toyam Industries has entered into a 51 per cent joint venture with Rajwada Cricket League. The joint venture aims to provide the professional cricket league with the best-in-class sporting experience in cricket.

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