Mahindra & Mahindra (M&M) on Thursday said it has sold 3.53 per cent stake in RBL Bank for Rs 678 crore, representing a 62.5 per cent gain on the investment. On July 26, 2023, the Mumbai-based diversified firm had announced the acquisition of a 3.53 per cent stake in RBL Bank as a treasury investment at a cost of Rs 417 crore.
The initial public offering of LG Electronics India Ltd received 54.02 times subscription on the final day of bidding on Thursday, driven by overwhelming participation from institutional buyers.
South Korean automaker Hyundai Motor Company on Tuesday exited Ola Electric Mobility by selling its entire 2.47 per cent stake in the company for Rs 552 crore through an open market transaction. According to the bulk deal data available on the NSE, Hyundai Motor Company sold more than 10.88 crore shares or 2.47 per cent stake in Bengaluru-based Ola Electric Mobility.
Citigroup Global Markets (M) Ltd has acquired 5.67 per cent stake in the Nishar group's Hexaware Technologies Ltd.\n\n\n\n
Cashing in on the opportunities galore courtesy the spurt in Indian equities, foreign fund house Citigroup Global Markets has raised about Rs 400 crore (Rs 4 billion) by selling shares of 24 blue chip firms in just nine trading sessions.
Private fund house Citigroup Global Markets (Mauritius) has hiked its stake in India Infoline, a stock brokerage firm, to 8.42 per cent after buying shares totaling Rs 1,424.17 crore through an open market transaction.
Interestingly, the shares sold by Citigroup Global Mauritius in the open market through the block deal counter of the Bombay Stock Exchange have been bought by another private fund house Credit Suisse (Singapore) at the same price.
Brown's resignation follows that of Citigroup's South Asia CEO, Sanjay Nayar, who has quit the financial services major to join Kohlberg, Kravis, Roberts & Co as its Country Chief.
British multinational BAT Plc on Wednesday trimmed its ownership in conglomerate ITC by divesting a 2.5 per cent stake for Rs 12,927 crore ($1.51 billion) through a block deal, according to a revised term sheet accessed by PTI. Following the stake sale, shares of ITC went lower by 1.15 per cent to trade at Rs 421.15 apiece on the NSE.
Global financial major Citigroup on Wednesday offloaded shares of 22 domestic companies, including 17 Sensex stocks like Reliance Industries and ICICI Bank, in block deals valued at Rs 231.42 crore (Rs 2.31 billion).
Digital payments provider PhonePe has filed draft papers with markets regulator Sebi for its upcoming initial public offering (IPO) using the confidential pre-filing route. On Wednesday, the company's spokesperson said, "PhonePe Ltd has filed the Pre-filed Draft Red Herring Prospectus with Sebi and the stock exchanges, under...the Sebi ICDR Regulations in relation to the proposed initial public offering of its equity shares on the main board of the stock exchanges".
While participants in the domestic financial market are expecting a 25 basis-point policy repo rate cut in the December meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), economists remain torn between a reduction in rate cut and a pause.
The Financial Industry Regulatory Authority has fined Citigroup $650,000 for violation of disclosure and supervisory norms involving a stock borrow programme.
Citigroup Global Markets on Thursday said that foreign inflows into India will be negatively impacted in the next 3-6 months if Sebi's proposals on curbing Participatory Notes are implemented in the current form. Users of PNs are largely hedge funds, a fast-growing asset class globally in recent years and lack of any new issuance of Offshore Derivative Instrument with underlying derivatives would take away hedging options for exposures in the cash market.
Citigroup Global Markets veteran Rajiv Nayar is cautiously optimistic as he sees bouts of risk-on and risk-off sentiments affecting capital raising by Indian companies.
US-based Citigroup is likely to allocate more global roles to India than to any other centre it operates in due to the country's strong talent pool, said Jane Fraser, chief executive officer of Citigroup, on Wednesday in an interaction with CNBC-TV18. Fraser also expressed confidence that India will remain the world's fastest-growing economy.
State Bank of India (SBI), the largest lender in the country, has launched a share sale to institutional investors to raise upto Rs 25,000 crore, the biggest qualified institutional placement (QIP) so far by an Indian firm, and has set a floor price of Rs 811.05, which is at a 2.5 per cent discount on Wednesday's closing price.
The initial public offer of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, got subscribed 2.37 times on the third day of the bidding on Thursday, helped by institutional buyers. This is the largest IPO in the country, surpassing LIC's initial share sale of Rs 21,000 crore. The Rs 27,870 crore initial share sale got bids for 23,63,26,937 shares against 9,97,69,810 shares on offer, translating into 2.37 times subscription, as per NSE data.
The pace of global economic recovery is expected to be subdued even as the financial conditions have been improving in recent months, says Citigroup.
The initial public offer of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, received an 18 per cent subscription on the first day of bidding on Tuesday. The Rs 27,870 crore initial share sale received bids for 1,77,89,457 shares against 9,97,69,810 shares on offer, as per NSE data. The IPO received over 9 lakh applications on the first day.
The IPO wave of 2025 is here, and it's bigger than ever. From fintech unicorns to financial powerhouses and infrastructure giants, some of India's biggest names are all set to make their stock market debut. PhonePe, Zepto, Tata Capital, NSE, NSDL, and JSW Cement are just a few of the highly awaited listings that have investors and analysts buzzing with excitement.
Sebi's probe against Jane Street is part of its efforts to mitigate losses for individual derivative traders.
Global realty funds eye India with $15 bn kitty
The Rs 6,145-crore initial public offer of electric two-wheeler company Ola Electric Mobility got fully subscribed on the second day of bidding on Monday, driven by demand from retail investors and non-institutional investors. The initial share sale received bids for 49,43,63,610 shares against 46,51,59,451 shares on offer, translating into 1.06 times subscription, according to the NSE data.
'Entering India is exciting, but it's also challenging. You have to be prepared for long-term investment.'
Just ahead of its mega FPO opening to public investors, Vodafone Idea (VIL) has announced closure of its anchor book allocation, raising about Rs 5,400 crore from marquee global as well as domestic investors, according to a statutory filing by the telco. This could be the third-largest anchor book after One 97 Communications and Life Insurance Corporation (LIC). One 97 Communications and LIC had raised Rs 8,235 crore and Rs 5,627 crore in the anchor round, respectively.
US strikes on Iran's three main nuclear facilities have once again raised concerns that Tehran might shut down the Strait of Hormuz - one of the world's most critical chokepoints, through which a fifth of global oil and gas supply flows.
The government will launch the mega public offer of LIC by March and file draft papers with market regulator Sebi by the end of this month, an official said. Finance Minister Nirmala Sitharaman had last week reviewed the progress of the initial public offering (IPO) of Life Insurance Corporation (LIC) in a meeting with top officials of the ministry. The official said the September 2021 quarter financials of LIC are getting finalised as well as fund bifurcation is in progress.
A career Citibanker, 'Selva' came into the spotlight as the person who rewired the financial behemoth's Indian retail operations.
Global banking major Citigroup has stuck the biggest property deal in recent years in the country by paying a hefty Rs 985 crore (Rs 9.85 billion) for six floors in the upcoming First International Financial Centre (FIFC) Tower at the coveted Bandra-Kurla Complex, to house its country headquarters.
India, a leading global player in the home textile space, is poised to strengthen its position with an over three fold jump expected in exports by 2010, global financial services major Citigroup said.
In recent months, several pharma multinational corporations (MNCs) are increasingly turning to Indian companies to expand market reach in the country's pharmaceuticals sector. Sanofi's partnerships with Dr Reddy's, Cipla, and Emcure, AstraZeneca and Mankind Pharma - teaming up for asthma medication distribution - are a few instances of this trend. This strategy allows MNCs to leverage established Indian networks and reach a wider audience. Indian companies also benefit from global brands and expertise, say analysts.
The US regulators on Wednesday fined Citigroup, American Express, J.P. Morgan Chase & Co and Putnam Investments a combined $81.25 million for failing to provide customers with necessary information about mutual funds.
With inflation spreading to non-food items, the Reserve Bank is likely to further tighten its monetary stance in its forthcoming annual policy, which may jack up interest rates, Citigroup said.
The government is likely to file draft papers for the mega initial public offering of LIC with market regulator Sebi by next week, while a portion of the issue would be reserved for anchor investors, a top official said on Wednesday.
Foreign institutional investors were the major sellers on the Indian bourses in the last six months, accounting for total outflows of Rs 62,000 crore (Rs 620 billion).
Food delivery platform Zomato has filed preliminary papers with capital market regulator Securities and Exchange Board of India (Sebi) to raise Rs 8,250 crore through an initial share-sale.
Foreign fund house Citigroup Global Markets Mauritius on Tuesday bought 0.97 per cent stake in Tata Motors for Rs 350.13 crore (Rs 3.50 billion) through open market transaction -- as part of the 5.34 per cent residual stake that Dailmer sold in the country's largest automaker.
Financial services firm Citi has retained the projection for India's economic growth in next fiscal at 8.4 per cent, saying there is less challenging atmosphere to various aspects of the economy, including outsourcing.
Technology solutions provider Caritor has reached an agreement with Citigroup Venture Capital International to make an investment in Caritor for joint strategic initiatives.
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