Market Regulator SEBI has approved US-based State Street Global Advisors’ proposed stake acquisition in Groww Asset Management, a wholly-owned subsidiary of Billionbrains Garage Ventures, the investment platform said on Monday. Following the proposed transaction, SSGA will acquire shares in Groww AMC and, upon completion of the deal, will hold voting rights of 4.85 per cent and an economic interest of 22.94 per cent in the asset manager’s fully diluted share capital. The development follows earlier approvals from the company’s board and the Competition Commission of India (CCI) for the proposed transaction.
has received a Letter of Acceptance from Lucknow Development Authority for a ₹194.40 crore EPC contract to construct a 4-lane flyover with two loops and two ramps at the Shaheed Path Intersection on the RHS bank of the Gomti River in Lucknow, UP. The contract must be completed within 24 months and involves no related-party or promoter-group interests.
has made a significant investment in Aggne, a leading consulting and managed services company serving the insurance and Insurtech industries. With this investment, Wipro becomes a majority shareholder in Aggne, gaining access to a highly sought-after and unique set of capabilities and Intellectual Property (IP) in the property & casualty (P&C) insurance space. The combined capabilities of Wipro and Aggne will help deliver enhanced value, faster speed-to-market, and differentiated services to clients in the P&C sector.
Mining, disinvestment and regulatory approvals
State-owned iron ore producer on Monday said that its production increased by 19.9 per cent to 5.31 million tonnes (MT) in May. The production was 4.43 MT in the year-ago period. However, the company’s sales in the last month dropped by 6.9 per cent to 4.04 MT from 4.34 MT in the year-ago period, according to provisional figures from NMDC.
The government on Monday said it will sell up to 6 per cent stake in at a floor price of Rs 71 per share through an offer for sale (OFS) beginning on Tuesday. “Government of India announces OFS in NHPC Ltd with a base offer of 3 per cent of its equity and an additional 3 per cent Green Shoe Option in case of oversubscription. Floor price fixed at Rs 71 per share,” Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said. The floor price of Rs 71/share is at an 8 per cent discount over Monday’s closing price of the scrip at Rs 77.19 on the BSE. The OFS opens on June 2 for non-retail investors and on June 3 for retail investors.
Equitas Small Finance Bank has informed the exchanges that the Reserve Bank of India has granted approval to Mirae Asset Mutual Fund to acquire an aggregate holding of up to 9.50 per cent of the paid-up share capital or voting rights.
Capital raising and fintech initiatives
has opened its qualified institutional placement (QIP) issue at a floor price of Rs 37.74 per share. The company’s board, in a meeting on Monday, approved a proposal, “authorising the opening of the issue today, i.e. June 1, 2026”, Ola Electric said in a regulatory filing. It also approved a “floor price of Rs 37.74 per equity share for the issue”, which is calculated based on the pricing formula as prescribed under SEBI ICDR Regulations and other applicable provisions, it said.
Fino Payments Bank Ltd has announced a strategic partnership with fintech platform Ezee.ai to build a lending ecosystem and strengthen its capabilities as it prepares for its transition into a Small Finance Bank (SFB). Under the partnership, Ezee.ai will deploy its artificial intelligence-enabled Loan Origination System (LOS), Business Rules Engine (BRE), and Collections Management Platform to support the bank’s lending operations, Fino Payments Bank said in a regulatory filing. The collaboration aims to enable AI-driven automation, intelligent decision-making, and operational efficiencies as the lender advances its SFB roadmap.
Market transactions and financial services
BNP Paribas on Monday bought nearly 9 lakh shares of Lloyds Metals and Energy from Morgan Stanley for Rs 161 crore through open market transactions. BNP Paribas, through its investment banking and market division BNP Paribas Financial Markets, purchased 8,96,293 equity shares of Lloyds Metals and Energy, according to the block deal data available on the BSE. The shares were picked up at Rs 1,802.10 apiece. Meanwhile, US-based Morgan Stanley, through its affiliate Morgan Stanley Asia (Singapore) Pte, offloaded the same number of shares.
Private lender on Monday said it has raised its stake in Axis Max Life Insurance Company to 19.9 per cent. Based on approval granted by the Acquisitions, Divestments and Merger Committee of the board of directors, Axis Bank has additionally invested in equity shares of Axis Max Life Insurance Company for an amount of up to Rs 380 crore, the lender said in a regulatory filing. “Post this investment, the aggregate shareholding of Axis Bank and its subsidiaries – Axis Securities Ltd and Axis Capital Ltd – will thereby increase from 19.02 per cent to 19.99 per cent,” it said.
Hospitality and data centre expansion
has announced the debut of the 126-key Taj Hessischer Hof Frankfurt in Germany, marking the brand’s entry into Continental Europe. “The opening of Taj Hessischer Hof Frankfurt marks Taj’s debut into Continental Europe, in line with our international strategy to grow our presence in key gateway cities of the world,” IHCL Managing Director and CEO Puneet Chhatwal said in a statement.
Anant Raj Ltd has signed an agreement with the Haryana government to invest Rs 20,000 crore in developing data centre infrastructure in the state. In a statement on Monday, the company said it has signed a Memorandum of Understanding (MoU) with the Haryana government to invest Rs 20,000 crore in developing large-scale data centre infrastructure across the state. Currently, Anant Raj operates 28 MW of IT load across its campuses in Manesar and Panchkula. Building on this foundation, the company is expanding its data centre footprint across Haryana. It aims to achieve a total capacity of 307 MW by 2031-32 across Manesar, Panchkula, and Rai, supported by a planned capital expenditure of about USD 2.1 billion.