CCI Clears Blackstone’s 9.99 Per Cent Stake in Federal Bank
ECONOMY & POLICY

CCI Clears Blackstone’s 9.99 Per Cent Stake in Federal Bank

The Competition Commission of India has approved Blackstone’s proposal to acquire a 9.99 per cent stake in Federal Bank through warrants, clearing a key regulatory hurdle for the transaction, the fair-trade regulator said in a press release on Tuesday.

The acquisition will be executed through Blackstone’s arm, Asia II Topco XIII Pte. Ltd. Following the transaction, Blackstone will have the right to nominate a director to Federal Bank’s board, provided it maintains a minimum shareholding of 5 per cent.

The bank’s board had approved the strategic investment in October, which is set to result in a capital infusion of about Rs 61.97 billion. Federal Bank said the funds will strengthen its capital adequacy, support its next phase of organic and inorganic expansion, and help accelerate its ambition to rank among India’s top five private sector banks.

On Tuesday, shares of Federal Bank closed 1.5 per cent lower at Rs 265.10 on the NSE.

The Competition Commission of India has approved Blackstone’s proposal to acquire a 9.99 per cent stake in Federal Bank through warrants, clearing a key regulatory hurdle for the transaction, the fair-trade regulator said in a press release on Tuesday. The acquisition will be executed through Blackstone’s arm, Asia II Topco XIII Pte. Ltd. Following the transaction, Blackstone will have the right to nominate a director to Federal Bank’s board, provided it maintains a minimum shareholding of 5 per cent. The bank’s board had approved the strategic investment in October, which is set to result in a capital infusion of about Rs 61.97 billion. Federal Bank said the funds will strengthen its capital adequacy, support its next phase of organic and inorganic expansion, and help accelerate its ambition to rank among India’s top five private sector banks. On Tuesday, shares of Federal Bank closed 1.5 per cent lower at Rs 265.10 on the NSE.

Next Story
Infrastructure Urban

Rosatom Delivers Nuclear Fuel for Kudankulam Unit 3

Rosatom has recently supplied nuclear fuel for the initial loading of the VVER-1000 reactor core at Unit 3 of the Kudankulam Nuclear Power Plant, marking a key milestone in the second stage of the Russian-designed nuclear power project in southern India.The fuel was supplied by Rosatom’s Nuclear Fuel Division, managed by TVEL, and manufactured at the Novosibirsk Chemical Concentrates Plant. The delivery includes the initial reactor load along with reserve fuel assemblies and is part of a long-term contract covering the entire operational life of Units 3 and 4.Building on operational experien..

Next Story
Infrastructure Transport

CBL International Enables First LNG Bunkering at Xiaomo Port

CBL International recently completed the first-ever LNG bunkering operation at Xiaomo Port, supplying liquefied natural gas to vessels operated by BYD in support of its maritime decarbonisation strategy. The operation was facilitated through a physical supplier in collaboration with China National Offshore Oil Corporation (CNOOC), which supported the port’s inaugural LNG bunkering activity. The milestone represents a strategic expansion of CBL International's sustainable fuel offerings beyond biofuels, while also diversifying revenue streams. As global shipping intensifies efforts to cut em..

Next Story
Infrastructure Urban

Aimtron, Aurassure Partner for IoT Weather Systems

Aimtron Electronics has recently entered into an OEM manufacturing engagement with Aurassure to produce new-age, IoT-enabled weather and environmental monitoring systems in India. The collaboration supports the growing demand for real-time environmental intelligence across urban, industrial and infrastructure applications. The engagement comes as global focus on climate-risk management and data-driven planning accelerates. The global weather monitoring systems market, valued at around USD 2.1 billion in 2024, is projected to reach nearly USD 4.8 billion by 2034, driven by the rapid adoption o..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Open In App