Radhakishan Damani Buys Stake In NSE

Radhakishan Damani, billionaire investor and founder of DMart supermarkets, has picked up a stake in the National Stock Exchange (NSE), the country's biggest bourse.

According to the latest shareholding data filed by NSE, Damani has bought 7.8 million shares of NSE, which constitutes a 1.58% stake in the exchange. The value of the stake could be anywhere between ₹650 and ₹800 crore, industry estimates suggest. The investment has been done in his personal capacity and Damani is currently the biggest non-institutional shareholder in the exchange, data showed.

The development comes at a time when the stock exchange is looking to revive its initial public offering (IPO) plans, a move that could increase the value of Damani’s holding further due to premium on the shares. NSE is eyeing a valuation of around ₹45,000 crore, say bankers.

Through the purchase, Damani joins the list of over 40 institutions and 200 plus individual shareholders of NSE. Life Insurance Corporation (LIC) is currently the largest shareholder in the NSE with a 12.5% stake. India’s largest public-sector lender State Bank of India along with private lenders such as ICICI Bank and HDFC are among the other marquee shareholders of NSE. Even leading foreign funds such as Citigroup, Morgan Stanley and Goldman Sachs have investments, shareholding data showed.

Damani is well known for picking up large stakes in companies and holding them for long periods. Through various entities, he owns a 74.9% stake in Avenue Supermarts NSE -1.06 %, which operates DMart. He also owns 20.4% stake in India Cements, 26% in VST Industries and 4.4% in Blue Dart. This year, apart from NSE, Damani has picked up a 2.1% stake in Spencer Retail.

Sandip Ginodia , CEO

ALTIUS INVESTECH PVT LTD

We deal in over 60 unlisted companies with 15 years of experience

For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .

Email : ginodiasandip1@gmail.com

Comments

Reliance's JioMart is averaging half a million orders per day; WhatsApp driving growth

JioMart , Reliance's online-to-offline commerce platform that launched in May , has scaled up rapidly, riding on the pandemic-fuelled digital acceleration. The service, which went live in 200 cities across India, is currently processing an average of 500,000 orders per day. " We can go even higher on peak days", Jio Platforms CEO Kiran Thomas revealed at the Facebook for Fuel India 2020 event. He said, "JioMart is empowering millions of kiranas and small merchants through the simple and secure platform of WhatsApp, and linking them to Reliance Retail's pan-India supply chain. We expect to grow manifold in future, and are optimistic about enabling new cohorts of users and making it easier for them to shop for daily essentials." "Customers are transacting seamlessly on JioMart and the conversational nature of the service enabled by WhatsApp has made people adapt to it intuitively," he added. Reliance also stated that it will continue t

Stock broker SMC Global files for IPO

F inancial services company SMC Global Securities has filed draft red herring prospectus with SEBI for public issue of 1,58,67,380 equity shares of face value of Rs 2 each. The issue comprises a fresh issue of 79,33,690 equity shares by the company and an offer for sale of 79,33,690 shares by Millennium India Acquisition Company Inc. As of September 30, 2012, "We service our broking clients through a network of 43 branches and 2,521 registered sub-brokers and authorized persons spread in more than 500 cities and towns. We have also established an office in Dubai for brokerage and trading activities in that region," the company said. SMC has reported a loss of Rs 0.42 crore and total revenues of Rs 292.24 crore in the year ended March 31, 2012. "The proceeds of the fresh issue shall be utilised for margin maintenance with stock exchanges; part repayment of term loan; investments into subsidiary, SMC Comtrade; and general corporate purposes," according to p

TCS merger with TCS e serve

The board of Tata Consultancy Services (TCS) in its meeting on 18 October 2012 has approved the composite scheme of arrangement between TCS, TCS e-Serve (e-Serve) and TCS e-Serve International (TEIL). The composite scheme of arrangement provides for merger of e-Serve into TCS and demerger of TEIL's special economic zone (SEZ) undertaking(s) to TCS. The appointed date proposed for this scheme is 01 April 2013. TCS holds 96.26% of the paid up equity share capital of e-Serve. TEIL is a wholly owned subsidiary of e-Serve. As per the terms of the scheme of arrangement, shareholders of e-Serve (other than TCS) will receive 13 equity shares of Re 1 each of TCS for every 4 equity shares of Rs 10 each of e-Serve held by them. The board has approved the scheme of merger of Computational Research Laboratories (CRL) and Retail FullServe (RFL) with TCS. The proposed appointed date for the merger of CRL is 01 October 2012 and for the merger of RFL is 01 April 2012. Computational Res

Abhishek Securities

Search This Blog