Latest news with #Listing
Mint
4 days ago
- Business
- Mint
Patanjali Foods rejects reports of Centre's notice to Ayurved division: ‘Examining appropriate action'
Patanjali Foods Ltd on Sunday junked reports of Patanjali Ayurved Limited receiving notice from the Ministry of Corporate affairs, saying it has not received any communication. In a stock exchange filing, Patanjali Foods said its sister concern Patanjali Ayurved is not being investigated by the Centre. 'Pursuant to Regulation 30(11) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, based on confirmation from Patanjali Ayurved Limited, we may clarify that Patanjali Ayurved Limited has not received any communication from Ministry of Corporate Affairs('MCA') for the proposed investigation by MCA as appearing in mainstream media,' the filing noted. Patanjali Ayurved is exploring legal options to address the issue, the company said. 'Their legal counsels are examining appropriate action in this regard,' Patanjali Foods said. In a report on May 30, Bloomberg reported that yoga guru Baba Ramdev's company Patanjali Ayurved is under the scrutiny of Centre due to 'suspicious' activities. The Centre has asked Patanjali Ayurved to explain some transactions deemed suspicious, according to the report quoting people familiar with the matter. As per the report quoting unnamed sources, the Union Ministry of Corporate Affairs sent a notice to the company after the federal economic intelligence wing found transactions it said was abnormal and dubious. The sources quoted by Bloomberg did not however reveal the exact amount of transactions involved in the case. They cited early stages of investigation as the reason. The company will have about two months to respond to the notice, according to the report. The corporate affairs ministry will further confirm if the company committed any corporate governance breaches and fund diversion. While Patanjali Ayurved is a closely held company, its unit Patanjali Foods Ltd. is publicly traded. Patanjali's face, Yoga Guru Ramdev, found himself in a soup earlier this year regarding some controversial comments. On May 2, Ramdev gave an undertaking in the Delhi High Court saying he will not issue any disparaging statement or publish on social media, posts similar to his "sharbat jihad" remark against Hamdard's Rooh Afza. A similar undertaking was also tendered by Ramdev's Patanjali Foods Ltd. The court passed the order while dealing with a lawsuit by Hamdard National Foundation India against Ramdev and his Patanjali Foods Ltd over the controversial remarks. Hamdard claimed while promoting Patanjali's "gulab sharbat", Ramdev alleged the money earned from Hamdard's Rooh Afza was used to build madrasas and mosques.
Mint
09-05-2025
- Business
- Mint
SBI to sell 13.19% stake in YES Bank to Sumitomo Mitsui Banking for ₹8,889 crore. Check details
India's largest lender State Bank of India (SBI), and seven other top lenders like HDFC Bank, Kotak Mahindra Bank, ICICI Bank, and Axis Bank, among others, are cumulatively offloading a 20% stake in YES Bank in favour of Japan's Sumitomo Mitsui Banking Corporation (SMBC), the private lender informed exchanges on Friday, May 9. SBI announced that it will sell a 13.19% stake held in YES Bank to SMBC for a consideration of ₹ 8,889 crore. SBI will offload 4,13,44,04,897 equity shares, amounting to a 13.19% stake, of YES Bank to Sumitomo Mitsui Banking Corporation at ₹ 21.50 per equity share. 'Pursuant to Regulation 30 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we advise that the Executive Committee of the Central Board (ECCB) of the Bank, in the meeting held on 9th May, 2025, has accorded approval to divest 4,13,44,04,897 equity shares of YES Bank Limited (YBL), being equivalent to approximately 13.19% of YBL's shares, to Sumitomo Mitsui Banking Corporation (SMBC) at Rs. 21.50 per equity share," SBI said in a filing. The total consideration for this transaction amounts to ₹ 8,888,97,05,285.50 (approximately ₹ 8,888.97 crores), subject to receipt of all regulatory and statutory approvals by the acquirer, it added. SBI held a 23.97% stake in YES Bank as of the March 2024 quarter. Following the deal, its stake in the company would drop to 10.78%. The stake sale is subject to receipt of all regulatory and statutory approvals by the acquirer, it said. The said stake sale is expected to be completed within 12 months from the date of execution, SBI added. Additionally, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis bank, IDFC First Bank, Federal Bank and Bandhan Bank will collectively sell 2,136,830,297 equity shares, representing 6.81% stake, of YES Bank to Sumitomo Mitsui Banking Corporation. ICICI Bank, HDFC Bank, Kotak Mahindra Bank, Axis Bank and Life Insurance Corporation of India together hold an 11.34% stake in Yes Bank. It was first in 2020 that these companies had acquired stakes in YES Bank, as part of RBI's bailout plan to stabilise the troubled private lender. These investments were part of a ₹ 10,000 crore infusion to recapitalise YES Bank and facilitate its restructuring under the RBI's guidance. Mint was the first to report that Japan's SMBC has secured the Reserve Bank of India's (RBI) go-ahead to acquire 51% in Yes Bank. SMBC will either buy less than 26% in YES Bank and do a merger through a share swap, or may buy up to 26% and launch an open offer, Mint had reported. Sumitomo Mitsui Banking Corporation is a Japanese multinational financial services company belonging to the Sumitomo Mitsui Financial Group. It has a market capitalisation of nearly ₹ 7.601 lakh crore. YES Bank shares closed the session nearly 10% higher at ₹ 20 apiece on the BSE ahead of the announcement.
Yahoo
06-02-2025
- Business
- Yahoo
Las Vegas home prices surge to all-time record in January, LVR report shows
LAS VEGAS (KLAS) — Las Vegas home prices started 2025 with a bang as prices for single-family homes set an all-time record in January, according to Las Vegas Realtors (LVR). The price jumped $10,000 in a single month, landing at $485,000 and passing the May 2022 record of $482,000. Condominiums and townhomes were selling at a median price of $293,000 in January, up $3,000 since December. The median price is the one in the middle — half sold at higher prices and half sold for less. Comparisons to prices from a year ago show that single-family homes have gone up 9.0%. Condos/townhomes are up 6.5% over last year's prices. LAST MONTH: Las Vegas home prices drop back as 2024 ends, finishing the year 5.6% higher 'The increase in our median price is another sign of the continued demand for housing here in Southern Nevada,' according to LVR President George Kypreos. It's also good to see our housing supply increasing in recent months so people have more choices when looking for a home,' Kypreos said. 'Overall, I remain confident that the local housing market will remain as strong as any in the U.S.' As of Feb. 5, interest rates in Nevada are 6.71% for a 30-year fixed mortgage and 5.93% for a 15-year fixed mortgage, according to Bankrate. LVR reported a total of 1,991 homes, condos and townhomes sold in January. Compared to January 2024, sales were up 6.7% for homes, but down 13.2% for condos and townhomes. Condo prices peaked in October at a median price of $315,000. The monthly report includes homes sold through LVR's Multiple Listing Service (MLS). It excludes new construction and homes sold by owners. Online broker Redfin said last week that the Los Angeles wildfires are pushing up rental searches and pushing down home sales. Roughly one of every six homes in the Palisades and Eaton fires have been destroyed or damaged, creating a ripple effect of people searching for temporary or permanent housing. The Las Vegas sales pace in January equates to a housing supply of just over two and a half months. Last year at this time, fewer homes were listed for sale. Home sales have been rebounding from a slow year in 2023, according to LVR. A total of 31,305 existing local homes, condos and townhomes sold during 2024. That was up from 29,069 sales in 2023 – the slowest year for existing local home sales since 2008. About 28.5% of all local property sales were cash transactions in January. That's up from 27.4% one year earlier, but well below the January 2013 cash buyer peak of 59.5%. By the end of January, LVR reported 5,215 single-family homes listed for sale without any sort of offer. That's up 46.9% from one year earlier. The 1,896 condos and townhomes listed without offers in January represent a 66.9% jump from one year earlier. LVR reported 72.5% of all homes and 73.6% of all condos and townhomes sold within 60 days. Both levels were slightly below 2024's pace. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
