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Business Upturn
a day ago
- Business
- Business Upturn
Waaree Energies: Promoter Chimanlal Doshi acquires 45.93% equity stake through gift transfer
By Aditya Bhagchandani Published on June 27, 2025, 10:12 IST Waaree Energies disclosed a major promoter group transaction on exchanges today as Chimanlal Tribhuvandas Doshi, a member of the promoter group, has acquired 45.93% equity stake in the company through an off-market gift transfer. According to the stock exchange filing, Doshi received 13.19 crore equity shares on June 24, 2025, taking his holding to 45.93% of Waaree Energies' total paid-up share capital. Before this transaction, Doshi did not hold any shares in the company. The company clarified that the transaction falls under inter-se promoter transfers as per SEBI (SAST) Regulations and was executed between immediate relatives. Waaree Energies' total equity capital remains unchanged at Rs 287.28 crore, comprising 28.72 crore shares with a face value of Rs 10 each. The filing confirmed that there is no change in the total voting capital post this acquisition. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Economic Times
4 days ago
- Business
- Economic Times
CCI okays Bain Capital's proposal to acquire stake in Manappuram Finance
The Competition Commission of India (CCI) has approved Bain Capital's proposed acquisition of a stake in Manappuram Finance and Manappuram Asset Finance. Bain Capital, through its affiliates, will acquire shares via private placement, warrants, and an open offer, potentially reaching an 18% stake in Manappuram Finance. This deal, valued at Rs 4,385 crore, is subject to SEBI's SAST rules. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Competition Commission of India (CCI) on Tuesday approved Bain Capital 's proposed acquisition of a stake in Manappuram Finance Bain Capital through its two affiliates -- BC Asia Investments XXV and BC Asia Investments XIV -- will acquire stakes in Manappuram Finance Ltd (MFL)."The proposed transaction involves four phases, where BC Asia Investments XXV (acquirer 1) will subscribe to 9.29 crore fully paid-up equity shares of MFL through private placement and preferential allotment."Further, subscription to 9,29,01,373 warrants of MFL by acquirer 2 (BC Asia Investments XIV), which can be exercised (in one or more tranches) at any point between 4 to 18 months from their date of allotment, each carrying a right to subscribe to 1 equity share of MFL," the regulator said in a Asia Investments XXV and its persons acting in concert are also offering to purchase up to 24.42 crore fully paid-up equity shares through an open offer, representing 26 per cent of the expanded voting share capital from public shareholders of MFL, as per the the transaction will trigger a mandatory open offer under the Sebi's SAST (Substantial Acquisition of Shares and Takeovers) the competition watchdog also granted its approval for the acquisition of Manappuram Asset Finance Ltd (MAFL) by Manappuram Finance."CCI approves proposed combination involving acquisition in Manappuram Finance Ltd and Manappuram Asset Finance Ltd by Bain Capital," the competition watchdog said in a post on primarily provides gold loans , vehicle loans, and MSME loans. MAFL is mainly engaged in providing gold March this year, Bain Capital announced that it entered into definitive agreements to acquire joint control in MFL through its affiliates, BC Asia Investments XXV and BC Asia Investments XIV, in partnership with the existing part of the agreement, Bain Capital will invest Rs 4,385 crore to acquire an 18 per cent stake in MFL on a fully diluted basis via preferential allotment of equity and deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.
Time of India
4 days ago
- Business
- Time of India
CCI okays Bain Capital's proposal to acquire stake in Manappuram Finance
The Competition Commission of India (CCI) on Tuesday approved Bain Capital 's proposed acquisition of a stake in Manappuram Finance . Bain Capital through its two affiliates -- BC Asia Investments XXV and BC Asia Investments XIV -- will acquire stakes in Manappuram Finance Ltd (MFL). "The proposed transaction involves four phases, where BC Asia Investments XXV (acquirer 1) will subscribe to 9.29 crore fully paid-up equity shares of MFL through private placement and preferential allotment. "Further, subscription to 9,29,01,373 warrants of MFL by acquirer 2 (BC Asia Investments XIV), which can be exercised (in one or more tranches) at any point between 4 to 18 months from their date of allotment, each carrying a right to subscribe to 1 equity share of MFL," the regulator said in a release. BC Asia Investments XXV and its persons acting in concert are also offering to purchase up to 24.42 crore fully paid-up equity shares through an open offer, representing 26 per cent of the expanded voting share capital from public shareholders of MFL, as per the release. Live Events Thereafter, the transaction will trigger a mandatory open offer under the Sebi's SAST (Substantial Acquisition of Shares and Takeovers) rules. Additionally, the competition watchdog also granted its approval for the acquisition of Manappuram Asset Finance Ltd (MAFL) by Manappuram Finance . "CCI approves proposed combination involving acquisition in Manappuram Finance Ltd and Manappuram Asset Finance Ltd by Bain Capital," the competition watchdog said in a post on X. MFL primarily provides gold loans , vehicle loans, and MSME loans. MAFL is mainly engaged in providing gold loans. In March this year, Bain Capital announced that it entered into definitive agreements to acquire joint control in MFL through its affiliates, BC Asia Investments XXV and BC Asia Investments XIV, in partnership with the existing promoters. As part of the agreement, Bain Capital will invest Rs 4,385 crore to acquire an 18 per cent stake in MFL on a fully diluted basis via preferential allotment of equity and warrants. The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.
BBC News
20-06-2025
- Politics
- BBC News
Staff at a Dorset school strike over restructuring plans for two schools
Staff at a state school are taking industrial action in protest at restructuring Sherborne Area Schools' Trust (SAST) said Shaftesbury School and Sturminster Newton High in Dorset had been facing a budget deficit of £1m between them so it was "looking to share some leadership roles across the two schools to reduce overheads".On 17 June, Shaftesbury School staff who are members of the National Education Union (NEU) walked out over the restructure, which the NEU said would "take teaching resource away from the front line."SAST said it continued to engage "in constructive dialogue with union colleagues". Jon Timbrell, who represents the NEU in the South West, said the restructure is "stripping half of the heads of curriculum out of the schools" and "prioritising retaining a large layer of executive management".He said a lot of the changes the trust had proposed "have been really unpopular within the community" and the turnout on Tuesday "was huge", with sixth formers, parents and other residents coming to show support."In negotiations with the trust, we raised the fact that the financial picture has changed quite significantly," Mr Timbrell added, referring to the 4% pay rise for teachers announced by the government and the investment in education proposed in the spending said the union was calling on the trust "to look again at the figures in light of that as well."More strikes are planned for next Tuesday and Wednesday. SAST said the plans were "designed to ensure long-term financial sustainability".It said similar issues were being faced "by many rural secondary schools, who are having to decide whether their sixth forms are sustainable".It had also commissioned an independent report in conjunction with the Department for Education, which looked at ways to reduce costs "whilst maintaining educational provision". The schools already share an executive headteacher and operate in a joint sixth form."We believe that sixth forms should remain in our local communities, and we are therefore looking to share some leadership roles across the two schools to reduce overheads whilst encouraging collaboration between them," the trust added there had been "a full consultation involving staff and union representatives"."We have listened throughout and made considered adjustments in response to genuine feedback, while keeping our focus on what matters most — the experience and outcomes of our students." You can follow BBC Dorset on Facebook, X, or Instagram.
Mint
19-06-2025
- Business
- Mint
Ambuja Cements raises stake in Orient Cement to 72.66%. Details here
Adani Group stock Ambuja Cements has acquired a 26 percent stake in Orient Cement, pushing its total shareholding in the company to 72.66 percent. The strategic acquisition was executed via an open offer under SEBI's Substantial Acquisition of Shares and Takeovers (SAST) Regulations, 2011, and marks a major consolidation move within the Indian cement sector. In a regulatory filing dated June 18, 2025, Ambuja Cements disclosed the purchase of 5.34 crore equity shares in Orient Cement at ₹ 395.40 apiece. This acquisition—amounting to exactly 26 percent of Orient Cement's total share capital—was conducted through an open offer extended to public shareholders. Prior to this transaction, Ambuja held 9.58 crore shares or 46.66 percent stake in the company. With this latest round of acquisition, its total ownership has risen to 14.92 crore shares, accounting for 72.66 percent of Orient Cement's equity. The transaction did not involve any complex financial instruments such as convertible securities, warrants, or pledged shares. Ambuja acquired only direct equity shares with voting rights, making the deal transparent and compliant with regulatory guidelines. The acquisition is part of Ambuja Cements' long-term expansion strategy and dovetails with the Adani Group's broader ambitions in the infrastructure and building materials space. By crossing the 70 percent ownership threshold in Orient Cement, Ambuja is expected to gain greater operational control and the ability to drive synergies across manufacturing, logistics, and marketing. This move comes at a time when the Adani Group is aggressively scaling up capacity through both organic and inorganic routes. With Orient Cement now firmly under its control, Ambuja could leverage its distribution and production capacity more efficiently across regions. In a post-deal note, global brokerage Jefferies maintained a bullish stance on Ambuja Cements. 'We maintain our 'Buy' rating on Ambuja Cement with a target price of ₹ 700, implying a 29 percent upside from current levels,' the brokerage said. Jefferies also highlighted that management is on track to scale cement capacity to 140 million tonnes per annum by FY28, up from 100 MTPA currently. 'The company is focused on cost efficiencies and expects industry demand to recover to 7-8 percent in FY26,' Jefferies added. According to the management, recent pricing trends have also shown improvement, indicating a more favorable operating environment going forward. Despite the strategic significance of the deal, the market reaction has been mixed. Ambuja Cement shares traded flat on June 19, slipping marginally by less than one percent. The stock is down over 2 percent so far in June. Meanwhile, Orient Cement has seen significant volatility. After plunging over 16 percent in the previous session, the stock fell another 1 percent in intra-day trading today. For June so far, Orient Cement has tanked nearly 28.5 percent, likely reflecting investor concerns around valuation, open offer pricing, or future integration uncertainties. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
