Latest news with #Gurugram-headquartered
India.com
2 days ago
- Business
- India.com
Big move by Sunil Mittal & Family, promoter entity sells Bharti Airtel shares for Rs 112270000000 via…, holding reduced to…
Indian Continent Investment Ltd (ICIL), a promoter entity of billionaire Sunil Bharti Mittal and family, on Friday sold nearly 1% stake in telecom major Bharti Airtel for Rs 11,227 crore through open market deals. ICIL is among the key promoter groups of the Gurugram-headquartered Bharti Airtel. ICIL Sells Shares In Bharti Airtel According to the bulk deal data available on the NSE, Indian Continent Investment Ltd offloaded a total of 6 crore equity shares in two tranches or a 0.98 per cent stake in Bharti Airtel. The shares were disposed of in the price range of Rs 1,870.40-1,871.95 apiece, taking the combined deal value to Rs 11,227.05 crore. After the latest transaction, ICIL's holding in Bharti Airtel has come down to 1.49 per cent from 2.47 per cent. Also, the holding of promoters has reduced to 50.27 per cent from 51.25 per cent. Meanwhile, Bharti Telecom Ltd remained the largest promoter entity with a 40.47 per cent stake. Details of the buyers of Bharti Airtel's shares could not be ascertained on the exchange. Bharti Airtel Share After Q1 Results Shares of Bharti Airtel fell 3.28 per cent to close at Rs 1,859.50 apiece on the NSE. On Tuesday, Bharti Airtel reported a 43 pc year-on-year increase in its consolidated profit at Rs 5,947.9 crore in the first quarter ended June 2025. The company had posted a profit of Rs 4,160 crore in the same period a year ago. The consolidated revenue from operations of Bharti Airtel increased by 28.4 per cent to Rs 49,463 crore during the reporting quarter from Rs 38,506.4 crore in the June quarter of the last year, the company said. Bharti Airtel's India revenue increased by 29 per cent YoY to Rs 37,585 crore. Its average revenue per user (ARPU), a key matrix to determine a telecom operator's growth, in India increased to Rs 250 during the quarter under review compared to Rs 211 in the same period a year ago. (With Inputs From PTI)
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Business Standard
05-08-2025
- Business
- Business Standard
IndiGo commences construction work for new MRO facility in Bengaluru
Domestic carrier IndiGo has commenced construction work on its new maintenance, repair and overhaul (MRO) facility here, with the groundbreaking ceremony taking place at the Kempegowda International Airport on Tuesday. To be built on 31 acres of land, the MRO with a capacity of up to 12 bays and the capability to handle both narrow and wide-body aircraft will be fully functional by 2028, IndiGo said. The ceremony was attended by the Commissioner for Industries in the Karnataka Government, Gunjan Krishna, IndiGo Chief Executive Officer Pieter Elbers, Bangalore International Airport Ltd's CEO Hari Marar, among others. IndiGo had signed a memorandum of understanding with BIAL for the allocation of land in May. This facility will also create over a thousand jobs across engineers, technicians and several more, further contributing towards nation building, IndiGo said. "We are very excited as we commence the project to build this grandO facility in Bengaluru. This also strengthens our operational presence in Bengaluru, which is one of our largest bases with over 200 daily flights. This is also an important step towards shaping the future of Indian aviation by developing a holistic aviation ecosystem in the nation," said Elbers. The Gurugram-headquartered airline currently has itsO facilities in Delhi and Nagpur, and the latest facility will be three times bigger compared to the combined capacity of theseOs, the airline said. With more than 400 aircraft in its fleet, dedicatedO facilities will give a significant advantage to IndiGo in terms of aircraft availability, greater cost efficiencies and quicker turnaround, benefiting the airline and its customers, Indigo said, adding the development of such a facility will also help strengthen the aerospace and defence ecosystem in Karnataka.
News18
05-08-2025
- Business
- News18
IndiGo commences construction work for new MRO facility in Bengaluru
Bengaluru, Aug 5 (PTI) Domestic carrier IndiGo has commenced construction work on its new maintenance, repair and overhaul (MRO) facility here, with the groundbreaking ceremony taking place at the Kempegowda International Airport on Tuesday. To be built on 31 acres of land, the MRO with a capacity of up to 12 bays and the capability to handle both narrow and wide-body aircraft will be fully functional by 2028, IndiGo said. The ceremony was attended by the Commissioner for Industries in the Karnataka Government, Gunjan Krishna, IndiGo Chief Executive Officer Pieter Elbers, Bangalore International Airport Ltd's CEO Hari Marar, among others. IndiGo had signed a memorandum of understanding with BIAL for the allocation of land in May. This facility will also create over a thousand jobs across engineers, technicians and several more, further contributing towards nation building, IndiGo said. 'We are very excited as we commence the project to build this grand MRO facility in Bengaluru. This also strengthens our operational presence in Bengaluru, which is one of our largest bases with over 200 daily flights. This is also an important step towards shaping the future of Indian aviation by developing a holistic aviation ecosystem in the nation," said Elbers. The Gurugram-headquartered airline currently has its MRO facilities in Delhi and Nagpur, and the latest facility will be three times bigger compared to the combined capacity of these MROs, the airline said. With more than 400 aircraft in its fleet, dedicated MRO facilities will give a significant advantage to IndiGo in terms of aircraft availability, greater cost efficiencies and quicker turnaround, benefiting the airline and its customers, Indigo said, adding the development of such a facility will also help strengthen the aerospace and defence ecosystem in Karnataka. PTI IAS RAM MR (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: August 05, 2025, 19:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
05-08-2025
- Business
- News18
Sunjay Kapur Succession Dispute: The Saas-Bahu Saga At Sona Comstar Goes International
Last Updated: Sunjay Kapur Succession Dispute: Kapur's sudden death, wife Priya's elevation, wild conspiracy claims by his mother, Rani, and demand for an international probe explained A sudden death, wife's elevation, wild conspiracy claims by his mother and demand for an international probe — high drama is unfolding in the Sona Comstar group after the sudden death of its chairman Sunjay Kapur. Kapur was the chairman of Sona Comstar, a leading automotive components firm with global operations, including manufacturing for EVs across India, China, Mexico, Serbia, and the US. Kapur, 53, died on June 12, following a heart attack during a polo match triggered allegedly by a bee sting. He was reportedly 2703rd wealthiest individual in the world. His publicly listed company was valued at Rs 30,000-40,000 crore. His net worth was estimated at $1.2 billion (Rs 10,300 crore) by Forbes in 2024, with a high point valuation of $1.6 billion (Rs 13,000 crore). Sona Comstar was founded by his father, Surinder Kapur, in 1997. After Surinder's death in 2015, Sunjay Kapur had taken over the reins. Who are the key players in the Sona Comstar succession battle? Rani Kapur: Sunjay Kapur's mother and former chairperson of the Sona Group. She is challenging the company's succession plan and has raised concerns about the circumstances surrounding her son's death, hinting at foul play. Priya Sachdev Kapur: Sunjay Kapur's wife and a former model-businesswoman. She has been appointed as a Non-Executive Director on the company's board. Jeffrey Mark Overly: Appointed as the new Chairperson of Sona Comstar's Board of Directors What about Sanjay Kapur's kids? Ex-wife and actor Karisma Kapoor's children: Samaira and Kiaan She has two kids – Safira, from her earlier marriage, and Azarias with Kapur. According to NDTV, Kapur had gifted Rs 14 crore in bonds to his children and ensured a monthly income of Rs 10 lakh each. Karisma Kapoor received a family-owned property, originally belonging to Kapur's father, during their divorce settlement. Speculation is intense as Priya has changed her Instagram handle to 'Priya Sunjay Kapur', and Safira also allegedly removed 'Chatwal' from her surname. What is at stake in the Sona Comstar succession battle? Rs 30,000-crore empire that has stakes in various international ventures. Race-horse breeder RK Family Trust, which owns the promoter share in Sona Comstar through Aureus Investments Pvt Ltd, has listed Kapur as its sole beneficiary, according to NDTV. At the centre of the power struggle is Sona BLW Precision Forgings Ltd (Sona Comstar), a Gurugram-headquartered company. After Kapur's death, the company announced that his wife, Priya Sachdev Kapur, would be inducted as a non-executive director from July 23, 2025. Protesting against the move indirectly, Rani Kapur, in a letter to his company, Sona Comstar, and Securities and Exchange Board of India (SEBI), has questioned the 'suspicious circumstances", saying there is 'more than what meets the eye". She had asserted that some individuals, were 'purporting to be the largest shareholders" according to information received under compulsion. 'As you are aware, on 12.06.2025, my son Mr. Sunjay Kapur tragically passed away under highly suspicious and unexplained circumstances in the United Kingdom. Despite all attempts, I am not able to receive answers about my son's death. Despite me seeking information, I have been unable to receive any relevant answers and documents explaining the incident and have been confined to the knowledge and version set out by the media. While we're in mourning, some people trying to usurp family legacy," she said She maintained that she has not given her consent to add anyone to the board of Sona group of companies. Rani claimed she has been 'totally denied access" to her accounts. 'I have been left to the mercy of a select few for survival. All this, in less than a month of my only son passing," she said. How did Sona Comstar react to Rani Kapur's letter? Despite her request, the AGM of the group happened on July 25, in which Sunjay Kapur's wife Priya Sachdev Kapur was appointed as a non-executive director with 99.44 per cent votes. Priya's appointment, nominated by Aureus Investments, is vetted by the board's Nomination and Remuneration Committee. Rani called it unauthorised. In its response, Sona Comstar's parent company, Sona BLW Precision Forgings Ltd., rejected her claims, stating that Rani Kapur has not been a shareholder since 2019 and, therefore, has no standing to interfere in company matters. The company emphasized that there was no requirement to defer the AGM. Citing a declaration filed in May 2019, the company said Sanjay Kapur had been identified as the 'sole beneficial owner" of the shares, and that Priya Sachdev Kapur was subsequently nominated to the board based on this ownership. Sona BLW reiterated that the company is not a family-run business. In a statement, it noted that 72% of its shares are held by institutional and public investors, while the promoter entity owns the remaining 28% — without any special rights or control. In the legal notice, Sona Comstar accused Rani Kapur of defaming the company and causing reputational damage. Sona Comstar also responded with a Bombay Stock Exchange (BSE) filing denying all her allegations. View this post on Instagram A post shared by Asian News International (@ani_trending) 'I need closure': On August 4, Rani Kapur approaches UK authorities on son's death On August 4, ANI quoted Rani Kapur as having formally lodged a criminal complaint with the UK authorities, calling for an investigation into the suspicious circumstances of her son's untimely death. 'The events leading to Sunjay's death are very alarming. The turn of events in Sunjay's death are seriously troubling," a family source informed ANI, further saying that the UK authorities have been urged to take immediate action. Given that Sunjay is an American citizen, ANI also confirmed that American agencies have started monitoring the case. 'I still don't know what happened to my son. I am old now. I need closure before I go," Rani said during an emotional interview with ANI, her first ever media appearance since the incident. I still don't know what happened to my son, need closure…I am here to remind the world that our family legacy must not be lost: Rani Kapur (mother of businessman late Sunjay Kapur) to ANI — ANI (@ANI) July 29, 2025 'Our family's legacy must not be lost': Rani Kapur's emotional interview Rani Kapur, in her recent ANI interview, spoke of the origins of the company, she reminisced about Sona Comstar's early days. 'I recall the early days of Sona—founded with care, sacrifice, and love," she stated, emphasising her emotional and historical connections with the company. This contradicted Sona Comstar's statement that she has not been involved with the firm since 2019. top videos View all Due to her advanced age and deteriorating health, Rani Kapur said that she would not make further public statements. 'My legal team will address everything necessary," she said, adding, 'I am here to remind the world that our family's legacy must not be lost. It must be passed on, as my husband always wanted it to be." With Agency, ANI Inputs About the Author Manjiri Joshi At the news desk for 17 years, the story of her life has revolved around finding pun, facts while reporting, on radio, heading a daily newspaper desk, teaching mass media students to now editing special copies ...Read More Get Latest Updates on Movies, Breaking News On India, World, Live Cricket Scores, And Stock Market Updates. Also Download the News18 App to stay updated! tags : Karisma Kapoor news18 specials Priya Sachdev Sunjay Kapur view comments Location : New Delhi, India, India First Published: August 05, 2025, 12:44 IST News explainers Sunjay Kapur Succession Dispute: The Saas-Bahu Saga At Sona Comstar Goes International Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hindustan Times
27-07-2025
- Automotive
- Hindustan Times
Sona Comstar appoints Sunjay Kapur's wife Priya Sachdev as non-executive director amid family tensions
Shareholders of auto components manufacturer Sona BLW Precision Forgings Ltd (Sona Comstar) have approved the appointment of Priya Sachdev Kapur as a non-executive director, amid growing tensions within the Kapur family following the sudden death of Sunjay Kapur. Priya Sachdev Kapur with her husband Sunjay Kapur, former chairman of Sona Comstar. At the company's annual general meeting held on July 25, shareholders passed the resolution appointing Priya, wife of late Sunjay Kapur, with 99.44 per cent votes in favour, the company said in a regulatory filing. Her appointment as an additional director in the capacity of non-executive director took effect from June 23, 2025. Sunjay Kapur, who chaired the Gurugram-headquartered auto parts firm, died on June 12 while playing polo in London. Following his death, the board unanimously appointed Jeffery Mark Overly as chairman on June 23. Rani Kapur alleges power grab, questions son's death However, in a letter to the board dated July 24, Rani Kapur, Sunjay's mother and former chairperson of the Sona Group, alleged that certain people had used the family's period of mourning as an opportunity to 'wrest control and usurp the family legacy.' She also raised questions over the circumstances surrounding her son's death. In a statement issued through her legal counsel, senior advocate Vaibhav Gaggar, she contested the official version of events. 'For my client, as a mother, it's deeply painful to watch this being dismissed as a mere freak accident and cardiac arrest. The truth doesn't match the headlines,' Gaggar said. 'She would not stay silent until that truth is acknowledged,' he added. Rani Kapur also alleged she was pressured into signing documents under distress shortly after Sunjay's passing. She had urged the board to cancel the AGM and warned against the appointment of any new directors under the current circumstances. While she has not initiated legal action, Gaggar said she has sought deferment of the AGM and 'reserves all her rights.' Sunjay Kapur's final rites were performed in Delhi on June 19. He was earlier married to actor Karisma Kapoor, with whom he had two children. After their divorce, he married Priya Sachdev, with whom he had a son, Azarias. With agencies inputs
