Institutional investors - both foreign and domestic - lapped up the government’s big-ticket share sales on Friday, helping it add nearly Rs 9,000 crore to its revenue kitty. The Centre sold a nine per cent stake in Axis Bank, held by the Specified Undertaking of UTI (Suuti), worth about Rs 5,500 crore, to a clutch of institutional investors through block trades on stock exchanges. Also, it raised another Rs 3,000 crore by divesting stakes in a handful of central public-sector ... Rediff.com, 1 month ago
Suuti’s merchant bankers give proposal; deal value could be Rs 2,800 croreThe Ajay Piramal-promoted Piramal Enterprises is evaluating a proposal from merchant bankers to acquire a five per cent stake in Axis Bank through block deals. Bankers appointed by the Specified Undertaking of Unit Trust of India (Suuti) are preparing to offload the government’s 20.7 per cent stake. Last week, Suuti had appointed JPMorgan, Citigroup Global Markets and JM Financial as merchant bankers.Rediff.com, 2 months ago
The S&P BSE information technology index has underperformed the S&P BSE Sensex this year, and by a good margin. While the Sensex has gained 6.6 per cent in 2014 so far, the IT index has corrected 3.1 per cent.Investors’ churn away from defensive sectors (IT, consumer goods and pharmaceuticals) is one reason for this fall. Rupee depreciation and expectations of a weak show in the March quarter are other reasons. The elections-driven rally in stock markets has led to a sharp run-up ...Rediff.com, 1 week ago
As per newspaper reports, Rajeev Suri, the head of Nokia's telecoms network equipment division, is likely to become the Finnish group's next chief executive following the sale of its handset business to Microsoft recently. Helsingin Sanomat newspaper, citing ...DNA, 1 month ago
Large private equity (PE) funds have joined the race for a stake in telecom tower company Viom Networks. Sources said buyout PE giants Apollo, Bain Capital and Advent International were interested in getting a significant minority stake in the company. About 45 per cent stake in Viom is held together by Srei Infrastructure and other PE investors. Viom has appointed Credit Suisse and Citi for the fund-raising. The Kanorias of SREI own 18 per cent and control management of the ...Rediff.com, 1 month ago Viom Networks to raise Rs 1,500 cr, may list on London Stock Exchange Rediff.com, 1 month ago
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