I’ll give a shot.[quote=“Surender, post:41, topic:8233”]
How the Net Capital Gain is 75 Cr?
Basically it’s Asset - Liabilities, wherein some assets are taken at market value/fair value and rest are taken at book value.
It remains to be seen which liabilities that were deducted from asset of MFSL to arrive at valuations of 196.45 crs. And also, whether market value of land bank(if any) was taken into consideration while arriving at valuation of 196.45.
Assets (Issue: Market price of land taken?)…554 crs
(-) Liabilties (Issue: only 82.84 crs clear liability visible)…357.55 crs
= Net Assets of MFSL …196 crs
(-) Valuations at which shares were sold… 405 crs
Premium at which shares were sold…209 crs
Shares sold to Toppan = 35.84%
Gain Realised = 35.84% of 209 Crs = 75 Crores
It is to be noted that no gains would have arise due to issue of fresh shares at a premium. So whole of gains should be from stake sale of 35.84 %.