So the CEP filed now is for a new product? If yes any idea on what that product is?
any idea who has sold the 4.33 lak shares?
They seem to be OSCL promoters.
The 4.33 lakh shares have been sold by the " person acting in concert" (PAC) with Svaks Biotech. This PAC was holding 81.70 lakh shares of LASA . Now i do not know of any single promoter holding such a big chunk of LASA shares. I think this has got something to do with the mutual swapping of LASA and Omkar shares between the promoters of the two companies. More clarity wil emerge after tomorrows meeting .
As per this link Mr. Omkar Herlekar has acquired 8 lakh shares of LASA and the mode of acquisition is mentioned as null, indicating an offmarket transaction. However this increases the personal holding of Mr Omkar herlekar by 3.5 % . Lot of action going on behind the scenes and the details will emerge after tomorrpws meeting.
Fund raising plans. No further details of use of proposed funds.
In con call Mr Omkar says his Dad has 30 Lakh shares in Lasa but shareholding pattern uploaded on website shows only 13 Lakh shares
So does that mean Mr Pravin herlekar have only 5 lakh shares of Lasa with him…because as on Sep 30 2017, he had some 13 lakh sahres of Lasa .
The press release is slightly confusing. I think the shareholding details will be clear once the shareholders data is released at the end of q3/q4. But two things are clear :
The promoters do not have any pledged/encumbered shares anymore.
The share transfer between promoters of OSCL and LASA is not complete and the final shareholding details will be clear only when the March data are treleased in April/May.
Any clue why stock is hitting lower circuit for 2 days?
We can only guess that this is market’s response to the rights issue.Probably it doesnt like this move
Lasa had a straight run from 131 to 214 which is a pretty decent 60%+ jump. Most stocks would take a breather after this. Neither its a verdict on rights issues, nor has the stock turned bearish. The story is very much intact. Big fishes infact would be looking for impatient ones to sell their holding. Question is, ‘are you the one?’
Are the Ratio and Price of their upcoming rights issue have been declared?
Svaks Biotech India Pvt Ltd(Promoter) sold 46,442 shares
We need to ask what will they do with the money. I hope they will bring the pledge down in omkar.
Omkar and Lasa are separate companies now, The rights issue money can be used by LASA to retire its own debt but it cannot be used get the pledged shares f Omkar released. The main purpose of the rights ssue is to convert the interest free loans that had been given to the company by the promoters, into equity.This will achieve the twin benefits of bringing down the debt burden while also increasing the promoters stake.
The pictures are puzzling. The plant seems to have no walls. Mr. Omkar not present for such an important event.
Is the unit actually operational or this is just a photo op.
Disc. Invested recently small quantity.
Was this demerger and all the hype just a route for the promoters and their coterie to dump their shares in the open market? If the business is so good then why is the Disclosure section only reading of Disposals over the past several weeks? It looks like the dumping is being distributed across quarters as well, going by how much of the disposals have happened since 1st of Jan after a lull in December. I can see that the retail holding is going up as well which is another sign of distribution.
They clearly want the funds to reduce OSCL’s debt. BTW Omkar Herelekar isn’t selling a single share. He is rather looking forward to increasing his holding through the rights issue.
Well, issue of warrants to the promoter is a better option as it could have increased promoters holding without equity dilution. Moreover, a little leverage is always good for the entity as the company as per the quarterly results has the capacity to service the debt. Noting that Omkar has told in the last concall that the company has no plan for further expansion in the next two years right issue at this time looks like another confusing financial move.