Claris Lifescience Delisting


(AJ) #1

On 5th of February 2018 the promoters of Claris Lifesciences has made an announcement for voluntary delisting of shares from BSE. Shareholders are requested to tender the shares and the reverse book building shall start from 12th February 2018, ending 20th February 2018. The floor price is Rs. 351.6 and the committed exit price is Rs. 381. I’m sure we have many of us invested in Claris and this is the time we should come forward and act as a group. Comments and suggestions are welcome!

Claris Delisting Proposal.pdf (1.8 MB)

Disclosure: Invested in Claris


(AmitContrarian) #2

They are delisting from both ? or just BSE ?


(AJ) #3

I hope a scrip which is listed only on BSE need delisting from BSE alone!


(8sarveshg) #4

Looks interesting and I have been buying this for a while. Since the indicative delisting price is 381 which will basically act as a floor for the stock price going forward and current price is 386, downside is very limited and upside will be dependent on what FIIs are going to put their orders at. I think the company can get delisted at a price between 390-430. So some upside is still possible from current levels with very limited downside. Since 10 FII investors hold almost 30% stake - I see low chance of a delisting failure. Great place to park your cash amidst volatility.

Disclosure - invested from lower levels


(AJ) #5

The current book value is about 460 per share. I think it is fair for us to look for that price near 460.
Totally agree with you on FII’s and the mutual funds being the deciding factor. I’m sure the promoters have already stuck a deal with them. It would be interesting to know at what price they are tendering.

Another interesting factor is that the retail share holding as at 31st December being about 11%!

Do you know whether the tender details(price and quantity) will be disclosed by BSE once the process start on 12th?


(8sarveshg) #6

Yes it will be available on BSE.


(pradeepkanwar) #7

Claris PR team has called me twice already to make sure I offer my shares. They need 90% overall participation incl promoters. If they target 381 it wont happen given mkt is higher than that price already. Polaris just delisted at ~460…almost 100% premium to orig delisting price target.


(Matt1985) #8

Thanks Pradeep…! I haven’t received any calls so far? Do you hold substantial portions?

Regards,
Matt


(pradeepkanwar) #9

Negligible … ~0.01% of mkt cap


(pradeepkanwar) #10

Did anyone here participate in Polaris delisting?


(Arun Kumar) #11

yes…i did participate in polaris.


(Chandra) #12

This is first Co where I am participating the de-listing. Today I received Delisting Offer Letter through Speed Post. Called queries contact mentioned in the Post Cover 8879673001/2 , asked how to tender my shares, they advised me to call my broker and tell the Offer Price which should be equal or above Floor Price ( Floor Price. Rs.351.6). I am having these shares in Zerodha A/c… I am not sure what price I should offer …CMP is Rs.387…I think one should offer shares for not less than 445 Rs. I dont know what is the fair valuation for this Co. Views /suggestions are welcome…


(pradeepkanwar) #13

Arun, why was there such a gap in floor and final price in Polaris? Promoters trying to trick?..Claris has been losing cash v fast from its books…not very nice for investors, I feel they really want to cash out cheaply


(Rahul B) #14

I have few questions regarding delisting. Can someone please help me

  1. What is for price and committed exit price? Why two things were mentioned?
  2. Can I buy shares in open market today and participate in the delisting
  3. At what price shall I offer the shares for delisting. Can I sell at 500/+
  4. When will the delisting process will complete (when will I receive money back to my account)

Please help me in this regard.


(jajushobhit) #15

The book value on 30 Sept 2017 was Rs. 525/- which is also mentioned in the letter of offer. I am not sure if shareholders will be tendering shares below the book value for delisting.

Regards
SJ


(Matt1985) #16

Hi Sarvesh - Just wondering, what is the process involved as many of the investors including me are participating in the de-listing process for the first time. Is there a timeline by which one should offer our shares or waiting for a while give an opportunity to get a higher price. I am literally clueless…! Appreciate your help and and guidance on this.

Regards,
Matt


(AJ) #17

As at end of 1st day total shares tendered is only 499800 which is just 1.84% of shares outstanding. It would be interesting to see how this is progressing:

Claris Offer to Buy status - BSE


(ranviraaj) #18

Question is what if the delisting goes successfull and I am left out with the shares ,? what are the options with those shares , which can not be traded in open market after successfull delisting?
where to sell those share if decided to do so?


(jajushobhit) #19

The shareholders can tender shares to promoters at the delisting price up to one year from delisting date. After one year, the promoters may reject the shares tendered by shareholders.

Regards
SJ


(gaurav) #20


For the benefit of members, attaching the previously delisted companies, their final exit price and other aspects. Please note that for almost all cases, except one, final exit price have been at a ~30% premium at minimum.