Friday, June 6, 2025

Creating liberating content

NEW DELHI: Prime Minister Narendra Modi on Friday thanked Canadian

Omada Health smart devices in use. Courtesy: Omada Health Omada

Tiffany Hagler-Geard | Bloomberg | Getty Images Shares of DocuSign

Related News

NEW DELHI: Prime Minister Narendra Modi on Friday thanked Canadian Prime Minister Mark Carney for his invitation to participate in G7 summit. In a post on X PM Modi said,

Omada Health smart devices in use. Courtesy: Omada Health Omada Health shares opened at $23 in their Nasdaq debut on Friday after the virtual chronic care company priced its stock

Travellers flying in and out of Delhi in the upcoming months might see a little turbulence in their plans as Delhi airport will be canceling almost 7.5% of its daily

Tiffany Hagler-Geard | Bloomberg | Getty Images Shares of DocuSign tanked 18% in trading Friday, a day after the e-signature provider reported stronger-than-expected earnings but slashed its full-year billings outlook.

Peoples Democratic Party (PDP) president Mehbooba Mufti on Friday welcomed the arrival of the train to Kashmir, calling it a significant milestone achieved through the combined efforts of successive governments

Investigation finds social media companies help enable explicit deepfakes with ads for AI tools – CBS News Watch CBS News A study found 6% of American teens have been targets

Trending News

Travellers flying in and out of Delhi in the upcoming months might see a little turbulence in their plans as Delhi airport will be canceling almost 7.5% of its daily

India’s foreign exchange reserves slipped by $1.24 billion to $691.49 billion in the week ending May 30, according to data released by the Reserve Bank of India on Friday. Despite

US stock futures edged higher on Friday as markets awaited key labour data, while shares of Tesla rebounded following signs of de-escalation in the high-profile spat between CEO Elon Musk

The US treasury department on Thursday stopped short of labeling China a currency manipulator, but criticised Beijing for its lack of transparency in exchange rate policies. The decision came in

Russia’s central bank lowered its benchmark interest rate to 20 percent on Friday, easing it from a two-decade peak of 21 percent as signs of economic cooling and easing price

The Reserve Bank of India once again raised red flags over cryptocurrencies, warning that these digital assets could threaten the financial stability and monetary policy.Speaking to reporters after the central

Bajaj Finserv promoters to sell 2% stake, eye Rs 5.8k crore

Word Count: 625 | Estimated Reading Time: 4 minutes


Bajaj Finserv promoters to sell 2% stake, eye Rs 5.8k crore

MUMBAI: Two promoter entities of financial services major Bajaj Finserv are set to sell nearly 2% of the company through block deals on Friday, aiming to raise about Rs 5,800 crore ($679 million). Bajaj Holdings & Investment and Jamnalal Sons have put 3.1 crore Bajaj Finserv shares on the block at a base price of Rs 1,880, as shown in the term sheet for the deal.Currently, the Bajaj family holds about 60.6% in the NBFC major. If the two entities sell the entire stake put on the block, the promoters’ stake will decrease to 58.7%, currently worth about Rs 1.8 lakh crore.The base price of the shares being offered is Rs 1,880, a 3.3% discount to Bajaj Finserv’s Thursday closing at Rs 1,944 on NSE. At the initial stage of the deal, the promoters are offering a little over 2.5 crore shares of Bajaj Finserv, translating to about 1.6% of the company. At the base price, this stake will fetch about Rs 4,750 crore ($554 million) for the promoter family, as indicated in the term sheet. In case there is strong demand for the shares of the NBFC major, they will offer an additional 57 lakh shares (0.36%) of the company. This will accrue an additional Rs 1,078 crore ($126 million) to the promoters.Lately, the revival in the stock market prompted several promoters to offload part of their overall holding in their companies. In May alone, promoters sold about Rs 48,000 crore worth of stocks in their companies through block deals, reports showed. Last month, Singapore Telecom, one of the promoters of telecom services major Bharti Airtel, sold part of its stake in the company for about Rs 13,300 crore. In another large block deal, BAT, a promoter of tobacco to FMCG major ITC, sold part of its stake for over Rs 12,000 crore.





Source link

Most Popular Articles

Sign In

Welcome ! Log into Your Account