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The Insurance Regulatory and Development Authority of India (Irdai) has increased scrutiny on the ultimate beneficiaries in share transfers within the insurance broking sector, leading to extended approval timelines. The regulator is examining general partners (GPs), alternative investment funds (AIFs), and venture capital/private equity funds associated with these transfers.
The overall promoter group shareholding of Aditya Birla Capital will remain unchanged
Stocks to watch: Shares of firms like HDFC, GATI, Tata Motors, IDFC First Bank, Vedanta, CCD, and others will be in focus on Tuesday's trade.
Stock Market Today: Trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 66.50 points in step with the Wall Street ending marginally up and Asian markets trading in gains
The company said the sale involves the transfer of all 25.65 lakh shares of Rs. 10/- each, representing 50.002% of the issued and paid-up share capital of ABIBL, to Edme Services Private Ltd, which is part of the Samara Capital Group and an affiliate of Samara Alternate Investment Fund