SoftBank offloads 1.1% Zomato stake, worth Rs 1,128 crore
In October, the investment major had sold 1.1 per cent stake in Zomato at Rs 111.2 per share to raise Rs 1,040 crore. Last month, Alipay Singapore Holding had sold its entire 3.44 per cent stake in Zomato.
It sold 296 million shares at Rs 112.7 a piece for a total of Rs 3,336 crore. Shares of Zomato have more than doubled this year.
PGIM MF recovers Rs 17 crore stuck in JSEL papers
PGIM India Mutual Fund has recovered Rs 17 crore following the completion of sale of Jorabat Shillong Expressway Limited (JSEL) to Sekura Roads, the fund house said in a recent communication to unitholders.
“Pursuant to the above recovery, PGIM India AMC distributed the entire sum recovered including principal and accrued interest to unit holders of the referred schemes,” the fund house stated in the communication.
PGIM MF had exposure to JSEL papers through five of its fixed maturity plans (FMPs), which matured in 2021.
JSEL, an IL&FS subsidiary, had defaulted on its debt obligations in March 2019. In such cases, funds holding papers of the defaulted entity have to value the holdings at zero.
PE firms offload 7.76% in Five-Star Business
The names of the buyers couldn’t be ascertained. Shares of Five-Star fell 2.5 per cent to finish at Rs 736. In November 2022, Five-Star came out with a Rs 1,593 crore IPO where it offered shares at Rs 474 apiece.
First Published: Dec 08 2023 | 10:37 PM IST