Promoters News

After a critical report by Hindenburg Research, Adani group promoters have raised ₹39,400 crore by diluting stakes in their companies. This move has generated liquidity that could be used for growth spending or to repay debts. GQG Partners, led by respected investor Rajiv Jain, has invested heavily in Adani group companies, providing a vote of confidence. The group's strategic moves could include investments in the renewables sector. Despite the setback caused by the report, the group's companies have seen a recovery in their stock prices. An investigation cleared the group of wrongdoing, potentially attracting more foreign investors in the future.

'A total of nine locations have been raided across Mumbai and Hyderabad in connection with ₹705 crore Mumbai airport scam,' said an ED official

Promoters of 232 firms have brought down their pledges from ₹1.27 tn on 14 Dec 2018 to ₹87,123 cr nowFounders of Essar Steel and Jet Airways are among those who have lost control of their companies in the past year

Rakesh Wadhawan is executive chairman, while his son, Sarang, is MD of the Mumbai-based real estate developerThe arrest of the two promoters comes on the back of their alleged involvement in financial irregularities at PMC Bank

The revised HPCL shareholding statement lists ONGC as a promoter with 77.88 crore shareONGC in January last year bought the government's entire 51.11% stake in HPCL for ₹36,915 crore

Many business tycoons have exploited every loophole in the legal system to defraud the general public

Agreement between Gangwal, Bhatia could be annulled if found violating the Companies ActSebi will look into Gangwal’s allegations of governance failure in the firm

The tiff between IndiGo's co-founders has spilled over into the public domain after Rakesh Gangwal complained to the Securities and Exchange Board of India (SEBI) against co-promoter Rahul Bhatia. As the dispute intensified, InterGlobe Aviation Ltd shares tumbled nearly 20% on Wednesday morning. Although they recovered slightly, but analysts feel the worst is yet to come. Analysts aren’t particularly worried about any immediate impact on the company’s financials but concerns about governance lapses can affect valuation multiples.

Promoters, who now own 52.74% in the firm, don’t intend to dilute the stake furtherThe latest stake sale follows a 10% stake sale by promoters in Feb that helped them raise ₹1,600 crore

Disagreements between co-founders often leave a business floundering, and there are many examples of friends-turned-founders having differences. The two promoters of FMCG giant Emami discuss their 60-year friendship and their business partnership