Monday, September 14
Abu Dhabi-based IHC on Wednesday divested a 1.83 per cent stake in Adani Energy Solutions for Rs 1,737 crore through open market transactions. Investment management firm IHC through its affiliate Envestcom Holding RSC Ltd offloaded nearly 2.2 crore equity shares, representing a 1.83 per cent stake in Adani Energy Solutions Ltd (AESL), as per the bulk deal data available on the BSE and NSE. The shares were sold at an average price of Rs 790 apiece, taking the combined deal value to Rs 1,736.73 crore. After the stake sale, Envestcom Holding's shareholding in AESL has come down to 0.85 per cent from 2.68 per cent. Details of the buyers of Adani Energy Solutions' shares could not be ascertained on the exchanges. In March this year, IHC sold 84.49 lakh shares in Adani Enterprises for around Rs
Antfin Singapore Holding Pte. Ltd, an affiliate of Ant Group will sell its entire 1.95% stake—equivalent to 18.84 crore equity shares—in food delivery company Eternal via a bulk deal on Thursday. The floor price has been set at Rs 285 per share, valuing the deal at around Rs 5,370 crore ($612 million).The floor price is at a 4.6% discount over today's closing price of Rs 300.05 on the NSE. Eternal shares today settled with declines of Rs 2.10 or 0.70% over the Tuesday closing price.The placement agents to this issue are Morgan Stanley India Company Private Limited and BofA Securities India Limited This marks Antfin’s second exit from an Indian company this week. On Tuesday, Ant Group affiliate Antfin (Netherlands) Holding B.V. divested its entire 5.84% stake in One 97 Communications,
US President Donald Trump’s doubling of existing tariff to 50% on India has prompted the Indian gem and jewellery industry to explore setting up manufacturing units in low tariff nations like Dubai and Mexico from where they can directly export to the US, otherwise they say it's doomsday for their export business.The US is the largest market for Indian exporters of diamonds and studded jewellery worth $10-billion as of 2024-25. The United Arab Emirates faces a 10% tariff while Mexico 25%.Gem & Jewellery Export Promotion Council chairman Kirit Bhansali said the 50% tariff is a doomsday for the Indian gem and jewellery sector. We have to find alternate ways to do business with the US, he said.“We will reroute our products through other countries after studying the tariff structure of
