British telecommunications giant Vodafone Plc sold 484.7 million shares, representing an 18 per cent stake, in tower management company Indus Towers through block deals on Wednesday, raising 15,300 crore.
This marked the largest transaction among domestic markets, which saw block deals totalling ₹28,500 crore ($3.4 billion) on the same day.
Other prominent deals included Wabco Asia's sale of 2,194 crore (7.51 per cent stake) in multinational firm ZF Commercial Vehicle Control Systems India (formerly Wabco India), and Fosun Pharma's 6 per cent equity stake sale in Gland Pharma for ₹1,754 crore.
In addition, private equity major WestBridge sold a 1.75 per cent stake in AU Small Finance Bank for 845 crore.
This surge in share sales reflects a record year for India's domestic markets. According to Bloomberg, India leads Asia in block trades and share placements this year, with transactions exceeding $20 billion (1.7 trillion). This activity is driven by soaring stock prices and substantial inflows into domestic mutual funds.
Denne historien er fra June 20, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra June 20, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
India on top of luxury firms' 'watch' list
Country's appetite for premium watches grows as China sees a downturn
Brand Maggi stronger than ever as Nestlé India gears up for new leader
Nothing has presented \"two minutes\" as tastefully as Maggi since its entry into India over four decades ago.
BURNING ISSUE
Minimum support price has been a bone of contention between the farmers in Punjab and the state and Centre
Missing funds went to legitimate purpose, says Byju's founder
The founder of Byju's, a once high-flying Indian education company that defaulted on its US debts, denied that he orchestrated a scheme to fraudulently transfer $533 million away from lenders.
97% rail electrification done
Indian Railways has completed electrification of 96.68 per cent of its broad gauge network, as it moved swiftly to become fully-electrified by 2024-25. Six more states now have 100 per cent electrified networks, taking the number of such states to 20, according to the national transporter's data.
Fortified rice supply, border roads get ₹21K cr Cabinet push
2,280 km roads to be built in Rajasthan, Punjab border areas
More upside in Zomato's stock, but competition also rising
The filing of Swiggy's DRHP has led to direct comparisons with Zomato, which is a direct competitor in food delivery and the fast-growing quick-commerce segment where Blinkit (owned by Zomato) faces off against Instamart (and Zepto).
No irregularities found in Sebi probe: Zee panel
The Independent Investigation Committee (IIC), set up by the board of Zee Entertainment Enterprises Limited, said that \"no material irregularities\" were found against the company during the investigation by the securities regulator, it said in a release on Wednesday.
India set to join FTSE Russell bond index next year
South Korean bonds to be added to FTSE World Government Bond Index
Mkts erase gains amid sustained FPI selling
India's benchmark indices made positive strides for the second consecutive session on Wednesday, but sustained selling by overseas investors saw them erase their gains.
