Bank of India plans share sale to meet Sebi’s minimum public holding norms

Bank of India plans share sale to meet Sebi’s minimum public holding norms

State-owned Bank of India is exploring the possibility of share sale to investors over the next one year to meet the minimum public holding requirement of 25 per cent. Currently, Government of India holds 81.41 per cent stake in the Mumbai-based bank. “We are exploring options to meet Sebi’s minimum public holding requirement. However, the … Read more

LIC could make a modest debut amid market uncertainty

LIC could make a modest debut amid market uncertainty

Mumbai: Insurance behemoth (LIC) is likely to see a modest stock market debut on Tuesday as uncertain investor sentiment could restrict the opening day gain that some of the previous listings have seen. In the unofficial grey market, the stock is trading around ₹19 below its issue price of ₹949 per share. Though the discount … Read more

Kotak Bank to sell 20 cr shares of Airtel Payments Bank to Bharti Enterprises for Rs 294 cr

NEW DELHI: Kotak Mahindra Bank on Tuesday said it will sell 20 crore shares held in Airtel Payments Bank (APBL) for a cash consideration of Rs 294 crore or more to Bharti Enterprises Ltd. A share purchase agreement has been executed by the bank for divestment of 20,00,00,000 equity shares (8.57 per cent stake) held … Read more

ICICI Bank to raise Rs 15,000 crore through share sale

Mumbai: Private lender ICICI Bank said its board has approved plans to raise Rs 15,000 crore through a share sale. The lender said that its board has approved such fundraising in one or more tranches, through means such as private placement, preferential issue, qualified institutions placement, follow-on public offering or a combination thereof. Over the … Read more