Punjab and Sind Bank is planning to mobilise up to Rs 3,000 crore through a private placement share sale, aiming to comply with SEBI’s minimum public shareholding (MPS) norms. The public sector lender’s move signals a balance between meeting regulatory requirements and strengthening capital plans as it navigates market rules for listed companies.
Ajay Nain, former COO and cofounder of IPO-bound RentoMojo, has petitioned NCLT Bengaluru claiming he was pushed out through a misleading, undervalued share sale in 2023. He alleges fraud and pressure to sell his 9.41% stake, while later buyouts and funding priced shares much higher—casting doubt on the “financial stress” narrative and potentially stalling the proposed IPO.
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John Distilleries founder Paul John says he is open to selling his remaining stake to US spirits group Sazerac. Sazerac already holds a major position in the Indian liquor maker, and both sides are exploring changes in shareholding. John believes Sazerac can support future growth as India’s spirits market is forecast to become the world’s largest by volume.
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