Friday, October 02
Global investment firm TPG offloaded stake worth Rs 1,505 crore in Sai Life Sciences through block deals on Friday, paving the way for a host of marquee investors to step in, including Norges Bank and leading Indian mutual funds.TPG sold over 2 crore shares in two tranches at Rs 722 per share, a price that reflected a 1% discount to Thursday’s closing price.Among the key buyers, Norway’s central bank, Norges Bank, acquired 11.5 lakh shares worth Rs 83 crore, signaling strong foreign institutional interest in the Indian pharmaceutical sector.On the domestic front, several top mutual funds participated in the transaction:-- Nippon India Mutual Fund bought over 40 lakh shares for Rs 290 crore,-- Invesco Mutual Fund acquired 13.5 lakh shares worth Rs 97.5 crore, and-- Aditya Birla Sun Life
Finance Ministry on Friday said CBDT is taking action against people having foreign income and as many as 5,483 taxpayers have filed belated returns reporting foreign assets worth Rs 29,208 crore and additional income of Rs 1,089.88 crore. Suitable action under the extant provision of law is under consideration for non-responsive taxpayers, the finance ministry said in a statement. The finance ministry's statement comes amid reports that money deposited in bank accounts of Indian entities in Switzerland has increased in 2024. Indian money parked in Swiss banks more than tripled in 2024 to 3.5 billion Swiss francs (nearly Rs 37,600 crore) on the back of a huge jump in funds held through local branches and other financial institutions, annual data released by Switzerland's central bank showe
