Latest news with #JamnalalSons
Reuters
4 days ago
- Business
- Reuters
India's Bajaj Holdings sells stake worth $234 million in Bajaj Finserv via block deal
June 6 (Reuters) - Bajaj Holdings and Investment ( opens new tab said on Friday that it sold a 0.65% stake in financial services firm Bajaj Finserv ( opens new tab for 20.02 billion rupees ($233.8 million) via a block deal. On Thursday, news channel ET Now had reported, citing sources, that Bajaj Finserv's founding firm Jamnalal Sons and Bajaj Holdings and Investment would sell a combined 1.58% stake in the financial services firm via block deals, with an option to sell an additional 0.36% stake. ($1 = 85.6200 Indian rupees)
Bloomberg
4 days ago
- Business
- Bloomberg
Bajaj Finserv Founders Seek $679 Million From Share Sale
Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here. Bajaj Holdings and Investment Ltd. and Jamnalal Sons Pvt., part of the founder group of Bajaj Finserv Ltd., plan to raise as much as $679 million collectively via a sale of shares in the financial unit of one of India's oldest conglomerates, according to terms of the deal seen by Bloomberg News.
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Business Standard
5 days ago
- Business
- Business Standard
Bajaj Finserv promoters sell 1.94% stake in ₹5,828 crore block deal
Promoter entities Jamnalal Sons and Bajaj Holdings will sell 31 million shares at a 3.3% discount, with Kotak Securities managing the share sale BS Reporter Mumbai Promoter entities of Bajaj Finserv, Jamnalal Sons and Bajaj Holdings and Investment, will divest a 1.94 per cent stake in the company via block deals on Friday. As per the term sheet, the two entities are offering a cumulative 31 million shares at a base price of Rs 1,880 apiece, a 3.3 per cent discount to Thursday's close of Rs 1,944. The promoter entities will raise approximately Rs 5,828 crore ($679 million) from the share sale. Kotak Securities is the investment bank handling the transaction. Promoter entities hold 60.64 per cent in Bajaj Finserv. In March this year, Bajaj Finserv announced it would buy out Allianz SE's stake in the two insurance joint ventures — Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC) — for Rs 24,180 crore. Bajaj Finserv will acquire approximately 1.01 per cent, Bajaj Holdings and Investment approximately 19.95 per cent, and Jamnalal Sons approximately 5.04 per cent, aggregating to 26 per cent in each of the insurance companies.
Time of India
5 days ago
- Business
- Time of India
Bajaj Finserv founding firms to sell 1.6% stake for Rs 4,750 crore : Report
The founding firms of India's Bajaj Finserv will sell at least a 1.58% stake they own in the financial services company in a deal worth 47.5 billion rupees ($554 million), news channel ET NOW reported on Thursday, citing sources. The firms, which include Jamnalal Sons and Bajaj Holdings and Investment , will sell the 25.3 million shares they own in the secondary market at a floor price of 1,880 rupees per share, the report said. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo The reported floor price is at a discount to Bajaj's closing price of 1,944 rupees on Thursday. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Bajaj Finserv's founding firms have an option to sell another 5.7 million shares, or a 0.36% stake they own in Bajaj Finserv, according to the report. Bajaj Finserv did not immediately respond to a request for comment. Live Events ($1 = 85.7990 Indian rupees)
Reuters
5 days ago
- Business
- Reuters
India's Bajaj Finserv founding firms to sell 1.6% stake for $554 million, ET NOW reports
June 5 (Reuters) - The founding firms of India's Bajaj Finserv ( opens new tab will sell at least a 1.58% stake they own in the financial services company in a deal worth 47.5 billion rupees ($554 million), news channel ET NOW reported on Thursday, citing sources. The firms, which include Jamnalal Sons and Bajaj Holdings and Investment ( opens new tab, will sell the 25.3 million shares they own in the secondary market at a floor price of 1,880 rupees per share, the report said. The reported floor price is at a discount to Bajaj's closing price of 1,944 rupees on Thursday. Bajaj Finserv's founding firms have an option to sell another 5.7 million shares, or a 0.36% stake they own in Bajaj Finserv, according to the report. Bajaj Finserv did not immediately respond to a request for comment. ($1 = 85.7990 Indian rupees)
