Corporate News     22-Sep-22
Triveni Engineering & Industries divests its entire stake in Triveni Turbine
Triveni Engineering & Industries announced the divestment of its entire 21.85% stake in Triveni Turbine (TTL) worth Rs 1,609 crore, unlocking significant value for shareholders. Driven by strong investor demand, the sale of shares was to marquee investors including sovereign wealth funds such as GIC, Abu Dhabi Investment Authority (ADIA), foreign institutions such as Nomura, Plutus and leading mutual funds such as SBI MF, Aditya Birla MF, Sundaram MF, Invesco MF.

The Company has undertaken the sale on 21 September 2022 in the following manner:

1) 10% of the total paid-up capital of TTL was sold to Rati Sawhney, one of the existing promoters by way of inter-se transfer between promoters at a price of 229 per share(based on the previous day closing price of 228.95 per share on NSE) through block trading window on stock exchange; and

2) 11.85% of the total paid-up capital of TTL was sold to multiple leading institutional investors through block trading window on the screen-based trading system of the stock exchanges at a price of 226.70 per share.

Previous News
  Triveni Engineering and Industries to hold AGM
 ( Corporate News - 24-May-24   13:54 )
  Board of Triveni Engineering and Industries recommends final dividend
 ( Corporate News - 21-May-24   10:04 )
  Triveni Engineering and Industries consolidated net profit declines 15.38% in the March 2024 quarter
 ( Results - Announcements 21-May-24   07:26 )
  Board of Triveni Turbine recommends final dividend
 ( Corporate News - 16-May-24   18:34 )
  Triveni Turbine consolidated net profit rises 36.86% in the March 2024 quarter
 ( Results - Announcements 16-May-24   18:25 )
  Triveni Engineering and Industries to table results
 ( Corporate News - 13-May-24   16:33 )
  Triveni Turbine to announce Quarterly Result
 ( Corporate News - 10-May-24   11:34 )
  Volumes jump at ITI Ltd counter
 ( Hot Pursuit - 22-Apr-24   14:30 )
  Jai Corp Ltd leads gainers in 'A' group
 ( Hot Pursuit - 22-Apr-24   12:00 )
  Triveni Turbine re-appoints Dhruv M. Sawhney as MD
 ( Hot Pursuit - 01-Apr-24   08:34 )
  Board of Triveni Turbine appoints CEO and COO
 ( Corporate News - 30-Mar-24   14:37 )
Other Stories
  Khadim India to conduct EGM
  20-Jun-24   20:01
  Persistent Systems AGM scheduled
  20-Jun-24   20:01
  Tyroon Tea Company AGM scheduled
  20-Jun-24   18:10
  Synergy Green collaborates with Senvion Wind Technology to develop 4 MW parts
  20-Jun-24   18:03
  Nirlon inducts Arjun Khullar as nominee director
  20-Jun-24   17:51
  Brahmaputra Infrastructure secures work order of Rs 59.84 cr
  20-Jun-24   17:49
  RailTel wins work order from South Central Railway
  20-Jun-24   17:44
  Goa Carbon launches its first branded product 'gcarb+'
  20-Jun-24   17:41
  Jupiter Electric Mobility achieves milestone in its battery technology for India Railways
  20-Jun-24   17:37
  Colab Cloud Platforms diversifies into sports management and sports tech space
  20-Jun-24   17:34
Back Top