Equity Moves

The Power Finance Corporation’s (PFC) plan to buy a 52 per cent stake in the Rural Electrification Corporation (REC) has been approved by the Competition Commission of India (CCI). The government is expected to acquire […]

SBI has signed an MoU with cash-strapped Jet Airways to convert its outstanding debt to equity. According to reports, SBI will hold about 15 per cent equity stake in the airline (based on the value […]

Airtel Africa Limited has announced that the Qatar Investment Authority (QIA) will invest $200 million in the company through a primary equity issuance. The proceeds will be used to reduce Airtel Africa’s existing net debt. […]

According to reports, Mauritius-based Bidvest Services, one of the shareholders in Mumbai International Airport Limited, has found a buyer for its 13.5 per cent equity stake in the airport. At present, Bidvest’s shareholdings are being […]

Reliance Industries Limited (RIL), along with its group companies (including Jio Content Distribution and Jio Internet Distribution Holdings) has announced an open offer to acquire an additional 26 per cent stake in Hathway Cable and […]

Vodafone Idea Limited’s (VIL) board of directors has approved the plan to raise Rs 250 billion through fully or partly paid-up equity shares of the company and other convertible securities such as convertible debentures. To […]

Petroliam Nasional Berhad (Petronas) is in talks with I Squared Capital to acquire a majority stake in Amplus Energy Solutions Private Limited. The value of the transaction is expected to be about Rs 27 billion. […]

Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) has sold its stake, held through wholly owned subsidiary CDP Groupe Infrastructures, in Resurgent Power Ventures Pte Limited to the sovereign wealth funds of […]

Reliance Industrial Investments and Holdings Limited has signed an agreement to acquire an 88 per cent stake in Kanoda Energy Systems Private Limited (KESL). Currently, all statutory approvals for the investment have been received and […]

The Cabinet Committee on Economic Affairs (CCEA) has accorded in-principle approval for the sale of the central government’s 52.63 per cent stake in the Rural Electrification Corporation (REC) to the Power Finance Corporation (PFC) along […]

Shell Gas, a subsidiary of Royal Dutch Shell plc, has completed the acquisition of a 26 per cent equity stake of Total Gaz Electricite Holdings France (Total) in the Hazira Port LNG Terminal Expansion Project. […]

The share purchase agreement (SPA) signed by Malaysia Airport Holdings Berhad (MAHB) to sell its entire 11 per cent equity stake in GMR Hyderabad International Airport Limited (GHIAL) to GMR Airport Holding Limited has been […]

The Competition Commission of India (CCI) has approved Renascent Power Ventures’ acquisition of a 75 per cent stake in Prayagraj Power Generation Company Limited (PPGCL). It has approved the acquisition of certain equity shares and […]

The board of Infrastructure Leasing and Financial Services Limited (IL&FS) has initiated the process of exploring the divestment of the IL&FS Group’s equity stake in road assets/businesses. These include seven operating annuity-based road projects aggregating […]

Bharti Airtel’s board has decided to sell 32 per cent of its stake in Bharti Infratel (subject to shareholder approval) to Nettle Infrastructure Investments Limited. After the completion of this transfer, the shareholding structure of […]

The Hindustan Construction Company (HCC) has raised Rs 4.98 billion through a rights issue of its equity shares. The issue was oversubscribed with HCC receiving applications worth Rs 5.51 billion. The company will retain Rs […]

The board of the Oil and Natural Gas Corporation (ONGC) has approved a buyback of 252.9 million shares for Rs 40.22 billion as part of the government’s plan to get cash-rich public sector units to […]

Delta Airlines has evinced interest in buying a 24 per cent stake in Jet Airways which is currently facing a financial crisis. In addition to buying the stake, Delta will also infuse capital into the […]

Reportedly, Petronet LNG and ONGC Videsh Limited (OVL) are jointly considering buying a stake in Tellurian, Inc.’s proposed Driftwood project in Louisiana, USA. Tellurian is offering a 60-75 per cent equity interest in Driftwood Holdings. […]

The Canada Pension Plan Investment Board (CPPIB) is in talks to acquire Goldman Sachs’ stake in ReNew Power Limited. Goldman Sachs is planning to sell around 20 per cent stake through a private sale. Goldman […]