Stake Sale

  • Government sells Axis Bank stake for over $900 million: sources March 21, 2014

    Mumbai: The government has raised more than $900 million by selling a 9 per cent stake in Axis Bank Ltd, two sources with direct knowledge of the development said on Friday. The government held 20.7 per cent in Axis Bank, India's third-largest private-sector bank by assets, via a trust fund called...
  • SpiceJet in 'advanced' stage of discussion for stake sale July 28, 2013

    Mumbai: Budget carrier SpiceJet is in advanced stage of discussion with a potential investor for stake sale and expects the negotiations to be concluded soon. "Discussions are going on with a foreign carrier. We hope to conclude these negotiations expeditiously," a source said. However, the sources refused to divulge any further...
  • EGoM to meet today to decide 9.33 pc MMTC stake sale June 12, 2013

    New Delhi: A panel of ministers on disinvestment headed by Finance Minister P Chidambaram will meet on Wednesday to decide the base price for the sale of stake of Metals and Minerals Trading Corporation of India. The sale of 9.33 per cent of MMTC's stake is expected to begin by...
  • Govt to get over Rs 11,500 cr from NTPC share sale February 7, 2013

    New Delhi: The government on Thursday said it is satisfied with the response to National Thermal Power Corporation (NTPC) share sale and expects to garner more than Rs 11,500 crore from the offer, the biggest disinvestment mop up so far this fiscal. "The government is satisfied with the response to this...
  • Govt set to auction 9.5 pc shares of NTPC February 7, 2013

    New Delhi: The government will sell 9.5 per cent stake in country's largest power producer NTPC on Thursday at a likely price of Rs 145 per share, nearly seven per cent discount to the current market price. The NTPC disinvestment, which would be the biggest so far this fiscal, is...
  • Government's Rs 12,000 crore NTPC stake sale on Feb 7 February 6, 2013

    Mumbai: The government expects to raise around Rs 12000 crore by selling a 9.5 per cent stake in state power utility NTPC Ltd in a share auction on February 7, Disinvestment Secretary Ravi Mathur said. The floor price for the offer will be announced on Wednesday, he said. Share sales in state...
  • NTPC's $2 billion share sale likely on Feb 7: Sources January 26, 2013

    Mumbai: India's plan to raise about $2 billion selling a stake in power producer NTPC Ltd will likely take place on February 7, three sources with direct knowledge of the situation said on Friday. The government, which owns 84.5 per cent of NTPC, plans to sell a 9.5 per cent stake...
  • SpiceJet says 'premature' to comment on stake sale January 15, 2013

    New Delhi: Shares in SpiceJet rose by as much as 8.5 per cent on Tuesday after the Times of India reported the budget carrier was close to selling a stake to a foreign carrier, which it said was most likely to be Qatar Airways. SpiceJet said in a later statement that...
  • Stake sale target seen on track; Oil India next December 18, 2012

    New Delhi: India is looking at new ways to attract investors to sales of shares in state-run industries and large offerings in Oil India and power company NTPC are set to come in the next few weeks, a top finance ministry official said. Selling equity in large public industries is a...
  • Jet shares at 52-week high on stake sale reports December 4, 2012

    Mumbai: Shares of Jet Airways on Tuesday surged seven per cent to touch its one-year high level in morning trade amid reports of a possible deal between the airline and United Arab Emirates' Etihad Airways for stake sale. Following the market buzz, the stock opened the day on a bullish...
  • Govt clears 9.5 per cent stake sale in NTPC November 22, 2012

    New Delhi: The government on Thursday approved 9.5 per cent stake sale in state-run power producer NTPC, hoping to garner around Rs 13,000 crore. "The Cabinet Committee on Economic Affairs has approved 9.5 per cent paid-up equity capital ( about 78.33 crore shares) in NTPC out of government's shareholding of...
  • 'Did not consider stake sale talks price-sensitive' September 29, 2012

    Mumbai: Facing flak from the exchanges for not informing them about stake sale talks, Kingfisher Airlines on Friday said the matter was not disclosed to the bourses first as the carrier did not consider it as a "price-sensitive information". The National Stock Exchange and the BSE...
  • Transglobal sells Kingfisher shares worth Rs 7.43 cr August 22, 2012

    Mumbai: Brokerage firm Transglobal Securities on Wednesday offloaded more than 74 lakh shares of ailing Kingfisher Airlines for about Rs 7.43 crore. Transglobal Securities sold 74,52,261 at Rs 9.98 apiece valuing the deal at over Rs 7.44 crore, according to information available with the National Stock Exchange. Shares of the debt-laden airliner...
  • Stake sale soon: Kingfisher CEO tells executives June 13, 2012

    New Delhi: At a time when Kingfisher Airlines is undergoing a series of crisis, Sanjay Aggarwal, the company's CEO met his top rung executives on June 12 to allay their concerns and convince them to hang on for some more time. In a three-hour meeting in Mumbai, Aggarwal seemed to be...
  • Mallya may sell UB stake to Heineken: sources March 29, 2012

    Mumbai: Tycoon Vijay Mallya, scrambling to raise funds to rescue his ailing Kingfisher Airlines Ltd, is considering the sale of all or part of his stake in United Breweries (UB), his flagship beer business, to Dutch brewer Heineken NV, said people familiar with the situation. They added that Mallya has the...
  • Auction outcome tarnished ONGC's image: Moody's March 5, 2012

    New Delhi: Ratings agency Moody's on Monday said the result of the Government stake auction in ONGC has tarnished the image of the oil major. On March 1 the Government had auctioned 5 per cent of its stake in ONGC. "The result of the ONGC auction highlights how the Government's own...
  • Govt set to raise Rs 12,500 cr by ONGC stake sale March 1, 2012

    New Delhi: The government is set to raise at least Rs 12,500 crore by selling a 5 per cent stake in Oil & Natural Gas Corp (ONGC) on Thursday, aiming to patch up its widening fiscal deficit and revive its stalled privatisation agenda. The government on Tuesday decided to fix...
  • Government to sell 5 pc ONGC stake on March 1 February 28, 2012

    New Delhi: Running against time to meet the Rs 40,000-crore disinvestment target, the Centre on Tuesday decided to offload 5 per cent stake in ONGC through auction route on March 1 at a likely floor price of Rs 290 a share that could fetch the Exchequer about Rs 12,000-13,000 crore. "The...
  • EGoM headed by Pranab clears ONGC stake sale February 15, 2012

    New Delhi: The government cleared stake sale in its Navratna PSU ONGC on Wednesday. The divestment has been cleared by the Empowered Group of Ministers (EGoM) headed by Finance Minister Pranab Mukherjee. Sources say five per cent government stake in ONGC will be offloaded. This is the first divestment cleared by...
  • Government calls off IFCI stake sale December 19, 2007

    New Delhi: The IFCI stake sale has been called off by the Government and IFCI has decided not go for any further bids. The financial institution had been in the process of roping in a strategic partner through the private placement of 26 per cent equity. There was only one bidder left...
  • CLB halts sale of UNI stake to Chandra June 21, 2007

    New Delhi: The Company Law Board (CLB) on Tuesday put a brake on the controversial sale of majority stake in news agency UNI to Subhash Chandra's Essel group declaring that the deal did not appear to be bona fide and was prima facie not valid. Ordering status quo be maintained, CLB...