Swiss financial services company UBS Group on Wednesday bought shares of HDFC Bank for over ₹543 crore through an open market transaction. According to the block deal data available on the BSE, UBS Group’s arm UBS Principal Capital Asia purchased 30.72 lakh shares of the Mumbai-based bank. The shares were picked up at an average price of ₹1,768.05 apiece, taking the transaction value to ₹543.27 crore. These shares were offloaded by Paris-based BNP Paribas through its affiliate BNP Paribas Financial Markets at the same price.
Reliance Power has informed the exchanges that its subsidiary, Rosa Power, has prepaid ₹850 crore of its debt to Singapore-based lender Varde Partners. Following Reliance Power’s achievement of zero debt, Rosa Power is now on track to become debt-free. The company aims to settle its remaining debt in the next quarter, completing the process before the end of the current financial year.
Infosys has collaborated with Swedish electric performance car brand Polestar to create a base for the latter’s development of in-car infotainment, software and electrical/electronics engineering, user experience, and cloud-powered digital services. As part of this partnership, Infosys will establish a global technology hub for Polestar at its development center in Bengaluru, a regulatory filing said.
Tech Mahindra has inked a pact with New Zealand’s University of Auckland (UoA) to drive research and innovation in artificial intelligence, machine learning and quantum computing. The collaboration will enhance the cooperation between industry and academia, with the goal of improving UoA graduates’ employability, Tech Mahindra said in a statement.
Uno Minda’s subsidiary Minda Onkyo India Private Ltd has entered into a technical license agreement (TLA) with Hyundai Mobis Co Ltd, Korea that will enable it to manufacture licensed products, specifically speakers, for Hyundai Mobis.
IDFC Ltd has received the green light from the National Company Law Tribunal (NCLT), Chennai, for the merger of IDFC Financial Holding Company with IDFC and their merger into IDFC First Bank.
SBI Mutual Fund has hiked its stake in KPR Mill to 7.74 per cent by snapping up an additional 2.85 per cent shares worth over ₹900 crore through an open market transaction. According to the bulk deal data on the BSE, SBI Mutual Fund bought 97.35 lakh shares or 2.85 per cent stake in apparel manufacturing company KPR Mill. The shares were picked up at an average price of ₹925 apiece, taking the transaction value to ₹900.54 crore. Meanwhile, KP Ramasamy, one of the promoters of KPR Mill sold 1.05 crore shares or 3.07 per cent stake in the company at an average price of ₹925.12 apiece.
Fintech firm Zaggle Prepaid Ocean Services has acquired a 26 per cent stake in Mobileware Technologies for ₹15.6 crore. The acquisition will enable Zaggle to leverage Mobileware’s expertise and infrastructure to enhance its payment offerings, the company said in a statement.
Nishant Pitti, one of the promoters of Easy Trip Planners, has divested a 14 per cent stake in the company for ₹920 crore through open market transactions. According to the bulk deal data available on the NSE, Nishant Pitti sold 24,65,49,833 shares in the price range of ₹37.22-38.28 apiece, taking the combined transaction value to ₹920.06 crore. After the stake sale, Nishant Pitti’s holding in Easy Trip Planners has come down to 14.22 per cent from 28.13 per cent. Also, the combined shareholding of the promoters has declined to 50.39 per cent from 64.30 per cent. Meanwhile, Core4 Marcom picked up 5 crore shares of Easy Trip Planners and Craft Emerging Market Fund PCC — Elite Capital Fund acquired 1.05 crore shares of the company, the data showed on the National Stock Exchange (NSE).
The board of Vedanta will meet on October 8 to consider the fourth interim dividend for FY25. The record date for the dividend, if declared, has been fixed as October 16.
