Jobaaj Stories
COAL INDIA
On June 1 and 2, the promoter, the Government of India, will sell its 9.24 crore equity shares, or 1.5% ownership in the nation's largest coal mining firm. In the event that the oversubscription option is exceeded, it also has the option to sell an additional 9.24 crore shares in the company.
The offer-for-sale issuance will become available to institutional investors on June 1. On June 2, retail investors can take part in the offering. The offer's floor price represented a 6.7% reduction from Wednesday's closing price of Rs 241, which has been set at Rs 225 per share.
HDFC LIFE INSURANCE COMPANY
Promoter firm Abrdn (Mauritius Holdings) 2006 Limited sold all 3.56 crore shares—or 1.66% of the company to several investors for an average price of Rs 570.60 per share to depart the life insurance company. Also, the stake sale brought in Rs. 2,036.7 billion. After the stake sale, Abrdn won't own any business equity shares.
MOIL
Beginning on June 1, the Miniratna state-owned manganese ore mining firm has increased rates for a few grades of manganese ore (BGF452, CHF473, and GMF569) by 10%. For June, the company has kept the same rates for the ferro grade, SMGR, fines, chemical grades, and electrolytic manganese dioxide.
Also read, Indian Sugar Mills Maximize Exports
Max HEALTHCARE INSTITUTE
Through open market transactions, the Government of Singapore acquired an extra 66.6 lakh shares of the company for Rs 366 crore, or Rs 549.53 on average. A total of 90.33 lakh shares of the company were sold by BNP Paribas Arbitrage for Rs 492.6 crore at an average price of Rs 546.56 per share, and a total of 75.43 lakh shares of Max Healthcare were sold by UBS Principal Capital Asia for Rs 413.42 crore at an average price of Rs 548.03 per share.
LAURUS LABS
The pharmaceutical company has signed official contracts to pay Rs 80 crore for a 7.24% interest in Immunoadoptive Cell Therapy (lmmunoACT), an innovative cell and gene therapy company. Following the transaction, Laurus Labs' ownership of ImmunoACT will rise to 33.86%. Additionally, some Laurus Labs promoters and senior management would pay Rs 4 crore at the same amount to purchase a 0.54% interest in ImmunoACT.
— Harshita Kumar
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