Latest news with #CABasqueInvestments
Economic Times
4 days ago
- Business
- Economic Times
YES Bank shares in focus as Carlyle arm trims 2.62% stake
Shares of YES Bank will be in focus on Thursday after the private sector lender announced that CA Basque Investments, a Mauritius-based special purpose vehicle owned by the Carlyle Group, has offloaded 2.62% of its stake in the bank, reducing its holding to 4.22%. ADVERTISEMENT With this sale, CA Basque has fallen below the minimum shareholding threshold required to retain board nomination rights under the investment agreement signed with YES Bank on July 29, 2022. As per the agreement, CA Basque's right to nominate a director to the bank's board automatically ceases once its stake drops below the prescribed level. Also Read: MRF snatches India's highest-priced stock crown back from Elcid Investments Separately, YES Bank on Tuesday said its board has approved a fundraising plan of up to Rs 16,000 crore through a combination of equity and debt instruments to support its business board cleared a proposal to raise up to Rs 7,500 crore via equity securities through various permissible routes. The bank noted that the total dilution from this issuance, including any conversion of convertible debt securities, will not exceed 10%. ADVERTISEMENT Also Read: These 10 Nifty microcap stocks can rally 70-200% in the next 12 months In addition, the board approved raising up to Rs 8,500 crore via eligible debt securities in Indian or foreign currency, with the same dilution cap of 10%. The board also approved amendments to the Articles of Association, in line with the share purchase agreement dated May 9 between YES Bank, Sumitomo Mitsui Banking Corporation (SMBC) and State Bank of India (SBI). The changes are subject to approval from the Reserve Bank of India (RBI) and the bank's shareholders. ADVERTISEMENT Also Read: Ola Electric, Kalyan Jewellers among 10 firms where promoters pledge increased in Q4 According to Trendlyne, the average target price for YES Bank is Rs 16, implying a potential downside of 22% from current levels. Of the 12 analysts tracking the stock, the consensus rating is 'Sell'. ADVERTISEMENT On Wednesday, YES Bank shares closed 1.44% higher at Rs 21.15 on the BSE, while the Sensex gained 0.32%. The stock has rallied 29% in the last three months but is still down 3% over the past year. The bank's market capitalisation stands at Rs 66,328 crore. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
India Today
5 days ago
- Business
- India Today
Stocks to watch on June 4: HDFC Bank, Wipro, Ola Electric, Nestle, Yes Bank
The stock market had a rocky session on Tuesday, as Dalal Street ended the day on a low note amidst mixed global Nair, who leads research at Geojit Investments Limited, mentioned that geopolitical tensions and a volatile currency market, driven by a weak USD, are keeping the domestic market Bank Yes Bank saw a buzz of activity when CA Basque Investments sold off 82 crore shares at an average of Rs 21.65 per share. This amounts to a 2.6% stake worth Rs 1,774.89 crore. As of March 2025, CA Basque Investments held a 6.84% stake in the bank. This transaction is a significant point of interest for investors keeping an eye on company moves and shareholder BankHDB Financial Services, owned by HDFC Bank, got the green light from Sebi for a Rs 12,500 crore Initial Public Offering (IPO) that's expected in the coming IPO will feature a fresh issue of 2,500 crore and an offer-for-sale of 10,000 crore by HDFC Bank, which currently owns a massive 94.36% stake in the subsidiary. This step is crucial as it could sway market viewpoints and pique investor interest in HDFC continues to make strides in the tech world by signing a multi-year deal with Entrust, a leader in identity-centric security solutions. This partnership is designed to boost Entrust's growth through strategic resources and agility, strengthening Wipro's global partnership network in the TechnologiesTPG, a US-based private equity firm, is reportedly selling a 2.1% stake in Tata Technologies through a block deal, valued at around 634 crore. The floor price set for this deal is Rs 744.5 per share. Such market activity is essential for investors tracking ownership stakes and market shifts in the tech ElectricOla Electric Mobility was in the spotlight when Citigroup picked up over Rs 8.61 crore shares in a transaction worth Rs 435 crore via a block deal. This deal saw Hyundai Motor Company and KIA Corporation as the sellers. The acquisition underlines Ola Electric's enduring allure among institutional investors looking to enter the electric vehicle Logistics Solutions, which operates as BlackBuck, saw action with institutional investors buying in, while Peak XV Partners cut its holdings. In parallel, Nestle India reported a 3.8% decrease in its full-time workforce for FY25, though the company plans to ramp up capital expenditures and invest in new capabilities, highlighting its focus on workforce and operational Motor is rolling out updates to its premium Hyundai Alcazar SUV, featuring additions like a panoramic sunroof and DTC options. These upgrades are part of Hyundai's ongoing strategy to keep a competitive edge and attract customers in the SUV Watch
