Stake Sale | The Asian Age

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The LIC board will meet on Tuesday to decide on the modalities for increasing stake in debt-ridden IDBI Bank to 51 per cent, a move that will provide the insurance behemoth entry into the banking space.

LIC board to meet tomorrow to decide IDBI Bank stake hike plan

LIC is in the process of picking up additional 7 per cent stake in IDBI Bank through preference shares.

03 Sep 2018 11:57 AM

IDBI Bank on Friday approved LIC's proposal to pick up additional 7 per cent stake in the bank, a move that will eventually lead to acquisition of 51 per cent shareholding by the insurance behemoth in the debt-ridden lender.

IDBI Bank approves issuance preference shares to LIC

The move will eventually lead to acquisition of 51 per cent shareholding by the insurance behemoth in the debt-ridden lender.

31 Aug 2018 3:25 PM

The LIC board will meet on September 4 to decide on the modalities for increasing stake in debt-ridden IDBI Bank to 51 per cent, a move that will provide insurance behemoth entry into the banking space.

LIC Board to meet on Sept 4 to decide on raising stake to 51 pc in IDBI Bank

The board will consider the proposal on August 31.

30 Aug 2018 1:01 PM

IDBI Bank on Tuesday said Life Insurance Corporation (LIC) will buy 14.9 per cent equity stake in the bank, a move that would eventually lead to acquisition of the majority stake in the state-owned lender.

LIC to buy 14.9 per cent stake in IDBI Bank

Union Cabinet had approved LIC's proposed acquisition of up to 51 per cent stake in debt-ridden IDBI Bank.

28 Aug 2018 7:10 PM

Jet Airways on Monday brushed off reports of a possible stake sale and also put to rest questions on rising debts that raised concerns on its ability to keep the airline flying.

Jet Airways denies stake sale, allays fears of debts

Jet Airways is reportedly suffering heavy losses and has been passing through a tough phase.

14 Aug 2018 8:31 AM

IDBI Bank on Wednesday said it has received approval to bring down the government stake to below 50 per cent and get acquired by insurance behemoth LIC.

IDBI Bank gets govt nod for acquisition by LIC

Post the transaction, IDBI Bank would become a subsidiary of LIC, which will have 51 per cent stake in it.

08 Aug 2018 5:38 PM

The board of ONGC has, for the second time in just over a month, approved selling its entire 49 per cent stake in helicopter service provider Pawan Hans alongside government's privatisation bid, officials with direct knowledge of the development said.

ONGC board approves stake sale in Pawan Hans

ONGC board had first on June 29 approved exiting Pawan Hans.

06 Aug 2018 4:11 PM

The Cabinet on Wednesday cleared the purchase of 51 per cent controlling stake in IDBI Bank by state-run insurer Life Insurance Corporation (LIC), sources said.

LIC-IDBI Bank deal gets clearance from Cabinet

The LIC-IDBI deal has been approved, after the meeting of Union Cabinet, chaired by Prime Minister Narendra Modi.

01 Aug 2018 4:05 PM

Fortis Healthcare on Thursday said extra ordinary general meeting (EGM) of the company will be held on August 13 to seek shareholders nod for its acquisition by Malaysia's IHH Healthcare.

Fortis EGM on Aug 13 to seek shareholders nod for stake sale to IHH

IHH Healthcare is expected to shell out a total of Rs 7,300 crore to acquire 57.1 per cent stake.

19 Jul 2018 6:31 PM

Fortis said it has received interest from various parties on May 31, as per the timeline specified in the fresh process for bidding.

Fortis Healthcare shortlists 4 entities for stake sale

Earlier this week, Fortis Healthcare initiated a fresh time-bound bidding process for its sale.

01 Jun 2018 4:05 PM

ONGC Chairman and Managing Director Shashi Shanker said the company is hoping to close the deal by March 31.

ONGC receives information memo from govt on HPCL stake sale

Cabinet had on July 19 approved sale of government's entire 51.11 per cent stake in HPCL to ONGC.

02 Nov 2017 2:53 PM

At a floor price of Rs 94 a piece, sale of 5 per cent stake would fetch about Rs 800 crore to the exchequer. (Photo: DC/File)

NLC Divestment: Institutions bid for Rs 1,000 cr worth shares

Govt has already raised over Rs 19,000 crore through minority stake sale in PSUs in current fiscal.

25 Oct 2017 6:09 PM

Air India is surviving on Rs 30,000 crore bailout package extended by UPA government.

Govt will prefer selling Air India to domestic buyer for its divestment

Govt says it has yet to decide what to do with carrier’s debt burden of Rs 55,000 crore.

17 Oct 2017 10:40 AM

IndiGo is owned by InterGlobe Aviation Ltd.

IndiGo may buy stake in Jet Airways as it dreams big

IndiGo wants to be an India-based airline with significant international presence.

06 Sep 2017 4:29 PM

Sale of this stake by Bharti is consistent with management's commitment to strengthening its balance sheet and reducing debt.

Airtel stake sale in tower arm credit positive: Moody's

Moody's Investors Service rated 3.65 per cent stake sale in Bharti Infratel as credit positive for Airtel.

11 Aug 2017 11:30 AM

Shares of the telecom major ended the day 0.08 per cent up at Rs 416.40 on the NSE.

Bharti Airtel CEO sells stake in firm to Bharti Telecom

Bharti Airtel sold 1.21 lakh shares of the company to promoter firm Bharti Telecom for over Rs 5 crore.

11 Aug 2017 9:42 AM

The airline has a debt burden of more than Rs 50,000 crore.

'Govt will continue to support Air India during stake sale process'

Air India has drawn up a proposal to offer voluntary retirement scheme to around 15,000 employees.

10 Aug 2017 4:45 PM

Bank has called a pre-bid meeting on August 14 and the final bids are to be sent in by 3 pm on August 22.

BoI to raise up to Rs 626 crore via STCIF stake sale

Bank of India holds 1,13,83,781 shares in STCIFL representing 29.96 per cent stake.

07 Aug 2017 2:59 PM

HPCL stake sale: Govt seeks bids for bankers, legal firms

Government is keen to complete the transaction within the current fiscal.

30 Jul 2017 12:49 PM

Finance Ministry has further amended Securities Contracts (Regulation) Rules, 1957.

Listed PSUs can meet public holding norm till Aug 18

Deadline has been extended to avoid bunching of share sale offers from state-owned firms.

14 Jul 2017 3:43 PM

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Abhijit Bhattacharyya