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Jubilant Life Sciences` promoters offload 3% stake
24 Feb 11:09

Two promoters of drug firm Jubilant Life Sciences has sold 3 per cent stake in the company for over Rs 455 crore, through open market transactions. The promoters are Jubilant Consumer and Jubilant Advisors LLP.Jubilant Consumer has disposed of 27.36 lakh shares, amounting to 1.72 per cent stake in the company at an average price of Rs 914 per scrip, valuing the transaction at Rs 250.07 crore. The Jubilant Advisors LLP has sold 22.38 lakh shares, or 1.41 per cent stake in the drug firm at a price of Rs 917.43 apiece, translating into a transaction of Rs 205.32 crore.Among the buyers of the shares was Copthall Mauritius Investment, which purchased 27.50 lakh shares for Rs 251.35 crore.

LIC trims stake in Tata Global Beverages
24 Feb 11:04

State-owned Life Insurance Corporation (LIC) of India has reduced its shareholding Tata Global Beverages (TGBL) to 3.62 per cent by selling 2.05 per cent stake in open market.LIC sold 1.29 crore shares, representing 2.05 per cent stake, of TGBL in open market between August 23, 2017 to February 21, 2018. The insurance giant had 5.67 per cent stake in TGBL earlier.Tata Global Beverages is a global beverage business with a brand presence in over 40 countries. The company has significant interests in tea, coffee and water and is the world’s second largest tea company.

Tata Teleservices hikes stake in Tata Teleservices (Maharashtra)
24 Feb 10:57

Tata Teleservices increased its stake in Tata Teleservices (Maharashtra) (TTML) by 11.76 percent to 48.3 percent by acquiring the shares that Japanese giant NTT DoCoMo had surrendered on exit from the company. It now held 94.41 crore shares or 48.3 percent stake.Separately, the company informed that NTT DoCoMo has tendered its entire shareholding in TTSL (the promoter of Tata Tele Maharashtra) to Tata Sons and its nominees on October 31, 2017.Tata Teleservices (Maharashtra) is a part of the Tata Group. This telecom services company has its presence all over Maharashtra and Goa.

Idea Cellular raises Rs 3,500 crore via QIP
24 Feb 10:48

Idea Cellular has successfully closed a Qualified Institutions Placement (QIP) to raise Rs 3,500 crore. The company has issued and allotted about 42.42 crore equity shares to qualified institutional buyers at an issue price of Rs 82.50 per equity share (including a premium of Rs 72.50 a share), amounting to about Rs 3,500 crore.DSP Merrill Lynch and Citigroup Global Markets India acted as global co-ordinators and book running lead managers to the issue.This equity raise of Rs 3,500 crore along with recent infusion of Rs 3,250 crore by the company’s promoter/ promoter group will reduce Idea’s net-debt by approximately Rs 6,750 crore.Idea Cellular is an AV Birla group company and provides Global System for Mobile communications (GSM)-based wireless service at the pan-India level.

Biocon to set up R&D lab in Hyderabad
24 Feb 10:37

Biocon is planning to start a Research and development (R&D) lab of its subsidiary Syngene in Genome Valley, Hyderabad, along with an expansion of its existing API/Intermediates facility. While the expansion will lead to creation of 500 new jobs, the R&D facility will generate at least 1,000.Biocon is India’s largest and Asia’s leading Biotechnology Company with a strategic focus on biopharmaceuticals and research services. It is a fully integrated, innovation-driven biopharma enterprise offering affordable solutions for chronic diseases to patient`s worldwide.