Latest news with #NSE
Time of India
3 hours ago
- Business
- Time of India
Rakesh Gangwal, family trust offload 5.72% stake in IndiGo worth Rs 11,564 crore
Representative image IndiGo operator InterGlobe Aviation promoter Rakesh Gangwal and the Chinkerpoo Family Trust reduced their stake by 5.72 per cent in the airlines through open market transactions, garnering Rs 11,564 crore. The bulk deal data on NSE showed that Gangwal and the trust, managed by Shobha Gangwal and JP Morgan Trust Company of Delaware, divested 2.21 crore equity shares. R akesh Gangwal individually sold 22.10 lakh shares, equivalent to 0.6 per cent stake. The Chinkerpoo Family Trust separately sold nearly 1.99 crore shares across three transactions, representing 5.15 per cent ownership in the Gurugram-based company. The shares were sold between Rs 5,230.99-5,235.31 per share, totalling Rs 11,563.79 crore. Following these transactions, Gangwal's holding decreased to 4.7 per cent from 5.30 per cent, whilst the trust's stake reduced to 3.08 per cent from 8.23 per cent in IndiGo. The combined ownership of Gangwal and Family Trust has now decreased to 7.81 per cent from 13.53 per cent. Meanwhile, co-founder Rahul Bhatia, his family, and InterGlobe Enterprises collectively maintain a 35.74 per cent stake. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Esta nueva alarma con cámara es casi regalada en Quilmes (ver precio) Verisure Undo The NSE data did not reveal the identities of the share purchasers. The company's shares closed at Rs 5,307 on Tuesday, declining by 2.08 per cent. Previously in August 2024, the family trust sold 5.24 per cent stake for Rs 9,549 crore, following earlier sales in March. This divestment aligns with Gangwal's February 2022 decision to reduce shareholding after disagreements with Rahul Bhatia regarding corporate governance. Since February 2022, both Gangwal and Shobha Gangwal have been selling their holdings. Notable transactions include a September 2022 sale of 2.74 per cent stake for Rs 2,005 crore, Shobha's February 2023 divestment of 4 per cent for Rs 2,944 crore, and her August sale of approximately 2.9 per cent for over Rs 2,800 crore. Following disputes with Bhatia, Gangwal stepped down from InterGlobe Aviation's board in February 2022, announcing plans to gradually reduce his equity stake over five years. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
India Gazette
3 hours ago
- Business
- India Gazette
Krishival Foods Limited (NSE: KRISHIVAL) Audited Financial Results & Operational Highlights for FY 2024-25
iMEQ Mumbai (Maharashtra) [India], May 27: Krishival Foods Limited (NSE: KRISHIVAL), incorporated in 2014, is among India's fastest-growing FMCG companies, specializing in premium nuts, dried fruits, and ice cream. The company operates under two distinct and rapidly expanding consumer brands: 'Krishival Nuts' - A trusted name in high-quality dry fruits and nuts, offering a diverse product range including cashews, almonds, pistachios, figs, and flavored varieties. 'Melt N Mellow' - An emerging ice cream brand known for its unique flavors and strong retail footprint, especially in Western and Southern India. The Company has announced its Audited financial results for the half year ended March 31, 2025 and for the year ended March 31, 2025. Strong Financial Performance - FY 2024-25 Krishival Foods Limited delivered robust financial results, reflecting the company's strong execution and growing market demand: * Total Income: Rs206.30 crore * 97% YoY (Rs104.70 crore in FY 2023-24) * EBITDA: Rs25.23 crore * 66% YoY (Rs15.17 crore in FY 2023-24) * Net Profit (PAT): Rs13.54 crore * 44% YoY (Rs9.35 crore in FY 2023-24) * Earnings Per Share (EPS): Rs6.08 * 39% YoY (Rs4.37 in FY 2023-24) These numbers underscore Krishival's accelerated growth, driven by strong performance in both core and acquired business segments. Segment-wise Performance 1. Nuts and Dried Fruits ('Krishival Nuts') * Revenue: Rs175 crore (up 67% YoY from Rs104 crore). * EBITDA: Rs23 crore (up 50% YoY from Rs15 crore). * Strong core segment growth supported by wide product portfolio and retail expansion. 2. Ice Cream ('Melt N Mellow') * Revenue: Rs51 crore (up 38% YoY from Rs37 crore). * EBITDA: Rs3 crore (up 783% YoY from Rs0.35 crore). * Significant EBITDA improvement suggests operational efficiency. * As the Ice cream business was acquired in September 2024, the financials from 22nd sept 2024 to 31st March 2025 are merged in consolidated financials. Operational Highlights * Geographic Reach: * Krishival Nuts presence in 102+ Tier II and III cities. * 25,000+ retail touch-points for Melt N Mellow ice cream in Maharashtra, Karnataka, Goa, Telangana. * Retail expansion with flagship Krishival Nuts shoppes in Calangute(Goa), Candolim (Goa), Alibaug and Dapoli. * Online & Export Channels: * Strong e-commerce partnerships with platforms like Amazon, Flipkart, and quick- commerce leaders such as Blinkit, Zepto and Big Basket. Exports of 'Krishival Nuts' to Singapore with presence in over 300 retail touch-points. Strategic Positioning & Outlook * Strong dual-brand strategy with 'Krishival Nuts' as a premium dry fruits leader and 'Melt N Mellow' targeting aspirational ice cream consumers. * Focus on aspirational consumption in underpenetrated markets is paying off. * Robust growth in both legacy and newly acquired businesses bodes well for future scalability and profitability. (ADVERTORIAL DISCLAIMER: The above press release has been provided by iMEQ. ANI will not be responsible in any way for the content of the same)
The Print
4 hours ago
- Business
- The Print
Rakesh Gangwal, family trust sell 5.72 pc stake in IndiGo for Rs 11,564 cr
According to the data, Rakesh Gangwal sold 22.10 lakh shares or 0.6 per cent stake in InterGlobe Aviation. A total of 2.21 crore equity shares or 5.72 per cent were offloaded by Gangwal and his family trust, the Chinkerpoo Family Trust, whose trustees are Shobha Gangwal and JP Morgan Trust Company of Delaware, as per the bulk deal data on the NSE. New Delhi, May 27 (PTI) InterGlobe Aviation promoter Rakesh Gangwal and his family trust on Tuesday trimmed their holdings by divesting a 5.72 per cent stake in the airline for Rs 11,564 crore through open market transactions. In addition, the Chinkerpoo Family Trust disposed of nearly 1.99 crore shares in three tranches, representing a 5.15 per cent holding in Gurugram-based InterGlobe Aviation. The shares offloaded in the price range of Rs 5,230.99-5,235.31 apiece, taking the combined transaction value to Rs 11,563.79 crore. After the latest transaction, Rakesh Gangwal's holding in InterGlobe Aviation declined to 4.7 per cent from 5.30 per cent and the Chinkerpoo Family Trust's stake has also dipped to 3.08 per cent from 8.23 per cent in India's largest airline IndiGo. Also, the combined holding of Gangwal and Family Trust stake in InterGlobe Aviation has declined to 7.81 per cent from 13.53 per cent. Promoter and co-founder of IndiGo Rahul Bhatia, his family and Bhatia-led InterGlobe Enterprises owned a combined 35.74 per cent stake in the airline. Details of the buyers of InterGlobe Aviation's shares could not be ascertained on the National Stock Exchange (NSE). On Tuesday, shares of InterGlobe Aviation fell 2.08 per cent to close at Rs 5,307 apiece on the NSE. In August 2024, Rakesh Gangwal's family trust sold a 5.24 per cent stake in the airline for Rs 9,549 crore. Before that, it had sold shares in March. The share sale is part of Gangwal's decision in February 2022 to trim his shareholding after a bitter feud with co-founder Rahul Bhatia over alleged corporate governance issues. Since February 2022, Gangwal and his wife Shobha Gangwal have been offloading their shares in IndiGo. In September 2022, Rakesh Gangwal and Shobha Gangwal sold a 2.74 per cent shareholding for Rs 2,005 crore. In February 2023, Shobha divested a 4 per cent stake in the company for Rs 2,944 crore. Later in August, she sold a nearly 2.9 per cent stake in the company for a little over Rs 2,800 crore. Amid differences with co-founder Rahul Bhatia, Gangwal, in February 2022, resigned from the board of directors of InterGlobe Aviation and Rakesh Gangwal said that he would gradually reduce his equity stake in the airline over the next five years. PTI HG DR BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
&w=3840&q=100)
Business Standard
4 hours ago
- Business
- Business Standard
Ahead of IPO, Scoda Tubes raises Rs 66 crore from anchor investor
Stainless-steel tubes and pipes manufacturer Scoda Tubes on Tuesday raised Rs 66 crore from anchor investors, a day before its initial share sale opening for public subscription. The anchor investors who invested in the company are Malabar India Fund, MNCL Capital Compounder Fund 2, Aarth AIF Growth Fund, IMAP India Capital Investment Trust - Catalyst New India Fund, Chhattisgarh Investments and Swyom India Alpha Fund, according to a circular uploaded on BSE's website. As per the circular, Scoda Tubes allotted 47,14,200 equity shares to these anchor investors at Rs 140 a piece, which is also the upper end of the price band. The Gujarat-based company's IPO is entirely a fresh issue of equity shares, aggregating up to Rs 220 crore with no offer for sale (OFS) component. The issue, with a price band of Rs 130-140 per share, will open for public subscription on May 28 and conclude on May 30. Proceeds of the issue will be used to expand the production capacity of seamless and welded tubes and pipes, working capital requirements and general corporate purposes. The company is valued at around Rs 840 crore at the upper end of the price band, the brokerages said. The company is a stainless-steel tubes and pipes manufacturer, catering to a diverse range of customers like EPC, and industrial companies engaged in oil and gas, chemicals, fertilisers, power, etc. Monarch Networth Capital is the book-running lead manager to the IPO. The shares of the company are expected to be listed on the BSE and NSE on June 4.
Mint
5 hours ago
- Business
- Mint
Neilsoft refiles DRHP for IPO, plans ₹90-crore fresh issue to fuel expansion
Engineering services firm Neilsoft Ltd, backed by Japan's Fujita Corporation, has refiled its Draft Red Herring Prospectus (DRHP) with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO includes a fresh issue of shares worth up to ₹ 90 crore and an offer-for-sale (OFS) of up to 8 million equity shares by existing shareholders. Neilsoft Ltd has revived its IPO plan as it looks to strengthen its capital base and fund key growth initiatives. The company plans to utilise ₹ 63.52 crore from the fresh issue proceeds primarily towards capital expenditures and general corporate purposes. The DRHP also allows for a potential pre-IPO placement of up to 20 percent of the fresh issue, which could reduce the size of the actual offering. Promoted by a group holding 54.43 percent stake, Neilsoft counts several prominent institutions among its public shareholders. These include Japan-based construction giant Fujita Corporation, which holds a 14.14 percent stake, as well as SIDBI (6.49 percent) and SICOM (4.93 percent). The IPO will follow the book-building route and is proposed to be listed on both the NSE and BSE. The issue will be managed by Equirus Capital Private Limited and IIFL Capital Services Limited as the book-running lead managers. The share allocation is structured to target 75 percent of the offer to qualified institutional buyers (QIBs), 15 percent to non-institutional investors (NIIs), and 10 percent to retail investors. Founded in 1991, Neilsoft operates in the high-growth engineering research and development (ER&D) space, offering specialised services in digitalisation, digitisation, and automation. Its core focus spans sectors such as architecture, engineering and construction (AEC), manufacturing, and industrial plants. The company runs delivery centres in Pune, Ahmedabad, Bengaluru, Bad Soden (Germany), and Tokyo, while its sales operations extend across India, Canada, and the United Kingdom. With a strong global footprint, Neilsoft serves clients in the Americas, Europe, Asia-Pacific, and India. Key clients include NBBJ Architecture, Praj Industries, and Hilti AG. Neilsoft has reported consistent growth in its financials. Revenue from operations rose 11.96 percent year-on-year to ₹ 325.85 crore in FY24 from ₹ 291.03 crore in FY23. Profit after tax also saw a strong 24.05 percent rise to ₹ 57.85 crore over the same period. For the nine months ended December 31, 2024, the company posted revenue of ₹ 289.06 crore and a PAT of ₹ 41.28 crore. With subsidiaries in Germany, Switzerland, Japan, and the United States, and R&D centres in Pune and Bad Soden, Neilsoft is well-positioned to benefit from rising global demand for engineering and digital transformation solutions.
