Latest news with #Damani
Mint
4 days ago
- Business
- Mint
HDFC Mutual Fund raises stake in THIS Radhakishan Damani-owned stock to 5%. Details here
HDFC Mutual Fund, India's third-largest fund house by assets under management (AUM), raised its stake in logistics company Blue Dart to above 5%, according to a filing shared with the exchanges. The stock is also part of ace investor and DMart promoter Radhakishan Damani's portfolio. As of the June quarter shareholding pattern, Damani held a 1.19% stake in Blue Dart Express, valued at nearly ₹ 164 crore. Meanwhile, HDFC Mutual Fund saw its stake in the company climbing to 5.01% from 4.85% earlier as it acquired 38,934 shares of Blue Dart, representing a 0.16% stake. The stake was acquired via the open market. The mutual fund holds a stake in the logistics services provider via 12 schemes. The company recently announced its April-June quarter (Q1) results for the financial year 2025-26, wherein it reported a nearly 9% fall as higher expenses offset a rise in volumes. The company said its consolidated net profit fell 8.6% year-on-year (YoY) to ₹ 48.83 crore in the quarter ended June 30. Its revenue from operations, however, rose 7.4% YoY to ₹ 1442 crore, while expenses grew 8.3% YoY to ₹ 1,386 crore. Commenting on the company's performance, Balfour Manuel, Managing Director, Blue Dart Express, said, 'Blue Dart continues to build strong momentum, driven by substantial traction across both B2B and B2C products. Our focus on strategically identified high-growth areas is beginning to yield results, supported by timely investments in new hubs, automation, and digital capabilities.' 'In a landscape marked by evolving trade dynamics and tariff shifts, our commitment to reliability and time-definite services remains unwavering. To sustain this growth trajectory, we are making front-loaded investments that strengthen our operational backbone,' he added. Blue Dart Express shares traded 0.10% higher at ₹ 5813.40 despite a sharp selloff in the Indian stock market. The stock has declined 28% in the last one year and is down 17% year-to-date (YTD). Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
Economic Times
31-07-2025
- Business
- Economic Times
Spandana's top ten investors to buy into Rs 400-crore rights issue
Kolkata: The top 10 institutional investors of Spandana Sphoorty Financial have confirmed their participation in the company's ₹400-crore rights issue of shares, which will open for subscription on August 1, Spandana interim chief executive Ashish Damani told ET. ADVERTISEMENT The list of participating investors includes Kedaara Capital-the promoter of the rural-focused non-banking financial company and a microfinance lender with a holding of 48.13%. Damani also said that Kedaara is likely to remain invested in the company for a longer period though it has a scheduled exit in September next year. "The idea behind the rights issue is to bring the confidence of stakeholders back," Damani told ET in an exclusive interaction. "The top 10-11 investors have confirmed their participation in the rights issue."The rights issue is structured in such a way that Spandana will receive 50% payment immediately and it will raise the balance amount in the next 24 company, which suffered a net loss of ₹1,035 crore in FY25, is otherwise adequately capitalized, with a capital to risk adjusted ratio of 37% at the end of March. Spandana's gross non-performing assets ratio stood at 4.85% at the end of March. Its assets under management shrank by 43% year-on-year to ₹6,819 crore on account of slower loan disbursal and writing off more than ₹1,500 crore of bad loans. ADVERTISEMENT On Kedaara's scheduled exit in 2026, Damani said there is no compulsion for them to exit."This can be best answered by Kedaara. However, as far as I understand, they don't necessarily need to exit," Damani said, adding that Kedaara has the right to invest more than its pro-rata holding if some investors do not subscribe to the rights issue. ADVERTISEMENT The right shares will be offered at a steep discount to make it attractive, given that the microfinance sector is reeling under asset quality stress. The issue is priced at ₹230 per share over a face value of ₹10 Wednesday, Spandana's shares closed at ₹271.85 on the BSE. They were at ₹305.95 on July 18, the day the rights issue price was announced. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
31-07-2025
- Business
- Time of India
Spandana's top ten investors to buy into Rs 400-crore rights issue
Kolkata: The top 10 institutional investors of Spandana Sphoorty Financial have confirmed their participation in the company's ₹400-crore rights issue of shares, which will open for subscription on August 1, Spandana interim chief executive Ashish Damani told ET. The list of participating investors includes Kedaara Capital-the promoter of the rural-focused non-banking financial company and a microfinance lender with a holding of 48.13%. Explore courses from Top Institutes in Please select course: Select a Course Category Digital Marketing Operations Management CXO Others Data Analytics Product Management Management Project Management Artificial Intelligence PGDM Public Policy Design Thinking Healthcare Technology others MCA Leadership Data Science healthcare Cybersecurity Degree Data Science Finance MBA Skills you'll gain: Digital Marketing Strategy Search Engine Optimization (SEO) & Content Marketing Social Media Marketing & Advertising Data Analytics & Measurement Duration: 24 Weeks Indian School of Business Professional Certificate Programme in Digital Marketing Starts on Jun 26, 2024 Get Details Skills you'll gain: Digital Marketing Strategies Customer Journey Mapping Paid Advertising Campaign Management Emerging Technologies in Digital Marketing Duration: 12 Weeks Indian School of Business Digital Marketing and Analytics Starts on May 14, 2024 Get Details Damani also said that Kedaara is likely to remain invested in the company for a longer period though it has a scheduled exit in September next year. "The idea behind the rights issue is to bring the confidence of stakeholders back," Damani told ET in an exclusive interaction. "The top 10-11 investors have confirmed their participation in the rights issue." The rights issue is structured in such a way that Spandana will receive 50% payment immediately and it will raise the balance amount in the next 24 months. The company, which suffered a net loss of ₹1,035 crore in FY25, is otherwise adequately capitalized, with a capital to risk adjusted ratio of 37% at the end of March. Spandana's gross non-performing assets ratio stood at 4.85% at the end of March. Its assets under management shrank by 43% year-on-year to ₹6,819 crore on account of slower loan disbursal and writing off more than ₹1,500 crore of bad loans. On Kedaara's scheduled exit in 2026, Damani said there is no compulsion for them to exit. "This can be best answered by Kedaara. However, as far as I understand, they don't necessarily need to exit," Damani said, adding that Kedaara has the right to invest more than its pro-rata holding if some investors do not subscribe to the rights issue. The right shares will be offered at a steep discount to make it attractive, given that the microfinance sector is reeling under asset quality stress. The issue is priced at ₹230 per share over a face value of ₹10 each. On Wednesday, Spandana's shares closed at ₹271.85 on the BSE. They were at ₹305.95 on July 18, the day the rights issue price was announced.
Time of India
03-07-2025
- Business
- Time of India
Radhakishan Shivkishan Damani portfolio: Ace investor's NSE stake hits Rs 9,300 crore ahead of IPO; exchange becomes his No. 2 holding by value after DMart
As the National Stock Exchange (NSE) moves closer to its long-awaited IPO, ace investor Radhakishan Damani 's early-stage investment in the bourse is delivering massive paper gains. His 1.58% stake—equivalent to 3.91 crore shares—is currently valued at around Rs 9,300 crore in the unlisted market, based on the latest grey market price of Rs 2,389 per share. This makes NSE Damani's second-largest holding by value, trailing only Avenue Supermarts ( DMart ), the retail major he founded, and placing it ahead of other notable portfolio bets such as Trent (Rs 2,788 crore) and VST Industries (Rs 1,560 crore). While it remains unclear whether Damani plans to offload any of his NSE shares during the IPO, the listing is poised to become a significant catalyst for his overall net worth, according to an ET report. The NSE stake stands out in a portfolio best known for high-conviction plays in consumer-facing sectors. Damani's core holding in DMart is currently valued at Rs 1.92 lakh crore. His investment in NSE reflects a broader strategic shift into financial infrastructure—low-noise, high-value assets with long-term tailwinds. As per data available for March 2025, Damani's portfolio across 12 publicly disclosed companies stands at over Rs 1.99 lakh crore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo The NSE holding, now nearing Rs 10,000 crore in value, could add a powerful new dimension to that tally once the exchange is listed. The NSE IPO is expected to attract strong investor interest, given the exchange's dominant market share in cash equities, robust financials, and the resolution of key regulatory hurdles. The exchange received SEBI's green light to file its Draft Red Herring Prospectus (DRHP), with a potential listing likely by the final quarter of FY26. While legacy issues such as co-location and dark-fibre access had delayed NSE's IPO plans in the past, the resolution of these concerns has cleared the way for a formal listing process. Analysts expect strong demand for the issue, driven by the scarcity of listed plays in the financial infrastructure space. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
News18
03-07-2025
- Business
- News18
Radhakishan Damani's Rs 9,300 Crore Jackpot? NSE IPO May Unlock Massive Gains
Last Updated: This holding now ranks as Damani's second-largest investment by value, behind only Avenue Supermarts (DMart) NSE IPO: Ace investor Radhakishan Shivkishan Damani — widely regarded as one of India's sharpest market minds — is poised to gain significantly from his strategic investment in the National Stock Exchange (NSE), which is edging closer to its long-awaited IPO. As per recent shareholding disclosures, Damani holds a 1.58% stake in NSE, translating to 3.91 crore shares. At the prevailing unlisted market price of Rs 2,389 per share, the value of his stake stands at a staggering Rs 9,300 crore. It's important to highlight that it is still unclear whether Damani intends to sell any part of his stake in the forthcoming IPO. This holding now ranks as Damani's second-largest investment by value, behind only Avenue Supermarts (DMart), the retail powerhouse he founded. It comfortably eclipses other major holdings in his portfolio, such as Trent (Rs 2,788 crore) and VST Industries (Rs 1,560 crore), highlighting the importance of NSE in his broader investment strategy. While Damani is best known for his high-conviction investments in the retail space — particularly his Rs 1.92 lakh crore stake in DMart — his relatively low-profile bet on NSE underscores a long-term vision aligned with India's evolving financial ecosystem. With an overall portfolio of over Rs 1.99 lakh crore across 12 listed companies (as of March 2025), NSE stands out as one of the few financial infrastructure plays in his holdings — and potentially among the most rewarding. The NSE IPO, expected to launch in FY26, could significantly boost Damani's net worth. The listing process is expected to gain momentum following SEBI's anticipated nod to the DRHP, possibly by July 2025. The exchange has also submitted two settlement applications to resolve pending co-location and dark fibre cases, a step that could remove regulatory roadblocks and pave the way for its public debut. During NSE's Q4 earnings call on May 7, MD & CEO Ashishkumar Chauhan confirmed that the exchange had responded to SEBI's February 28 letter and formally applied for the No Objection Certificate (NOC) required to move ahead with the IPO. The NSE's IPO is likely to see overwhelming investor interest, driven by its market dominance, strong financials, and monopoly status in the cash equities segment. While the issue structure will only become clear post-DRHP, the March 2025 shareholding pattern already shows significant participation from marquee institutions like SBI, LIC, GIC Re, and New India Assurance. As the IPO approaches, all eyes will be on whether Damani chooses to offload a portion of his Rs 9,300 crore holding or stays the course with what could be one of the most lucrative investments in his legendary portfolio.
