Adani Green Energy share hits upper circuit as firm eyes Softbank s majority stake in SB Energy
Adani Green Energy stock touched an intraday high of Rs 1142.55, rising 5% on BSE. Later, the stock closed at same level
BusinessToday.In | May 17, 2021 | Updated 18:20 IST
Adani Green Energy stock opened with a gain of 4.67% at Rs 1,139 on BSE.
Adani Green Energy share hit upper circuit of 5% today amid reports that the firm was vetting a proposal to buy out Japan s SoftBank Group s majority stake in solar power producer SB Energy. Adani Green Energy stock opened with a gain of 4.67% at Rs 1,139 on BSE. The stock has gained 8.81% in the last 2 days and has risen 8.81% returns in the period. The large cap stock touched an intraday high of Rs 1142.55, rising 5% on BSE. Later, the stock closed at same level.
Publishing date: May 16, 2021 • 4 hours ago • 1 minute read •
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(Bloomberg) Adani Green Energy Ltd., majority-owned by Indian billionaire Gautam Adani, is in advanced talks to acquire privately-held SB Energy Holdings Ltd., according to people familiar with the matter.
A deal could value SB Energy, owned by SoftBank Group Corp. and Bharti Enterprises Ltd., at more than $650 million, said one of the people, who asked not to be identified as the information is private. Adani Green is exploring a buyout of the renewable energy company through an all-stock deal, another person said.
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SoftBank’s $525m sale of Indian solar power firm SB Energy to CPPIB called off
May 13, 2021
Japan’s SoftBank Group Corp.’s proposed sale of its controlling stake in SB Energy to Canada Pension Plan Investment Board (CPPIB) has been called off, said two people aware of the development.
SoftBank Group Corp. was planning to sell its controlling stake in SB Energy, which has a 7.7 gigawatts (GW) solar power portfolio in India, for an estimated $525 million. SoftBank owns 80% of SB Energy, with the rest held by Bharti Enterprises Ltd. Bank of America and Barclays were handling the sale process that was in the works for around a year.
3 hours ago
On Thursday, the Reserve Bank of India (RBI) released a list of eight entities/promoters who wish to apply for universal commercial bank and small finance bank licenses. The top contenders include Sachin Bansal’s Chaitanya India Fin Credit, forex major UAE Exchange and Dvara’s micro-finance arm.
Recently, the central bank appointed an expert committee to evaluate applicants for bank licenses. This committee will evaluate fresh applicants who wish to apply for ‘on tap’ bank licenses over the next three years, in addition to non-bank lenders and payments bank that wish to convert to an SFB or universal bank. In 2014, the RBI gave universal banking licenses to Bandhan Bank, a micro-finance lender, and IDFC Bank, a development finance company. IDFC Bank was merged with Capital First and is now called IDFC First Bank.
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