Piramal Enterprises Ltd


(Jaclyn) #572

I was looking for an answer to the same question, but my search to answers proved elusive. I went through the offer letter and here (PEL Print.pdf (1.2 MB)) is the edited relevant portion which you can go through to get your concerns answered.

In short, an application can be submitted through plain paper as well. The details are on page number 409. In addition to what has been listed on this page, there are few more details which need to be submitted. I have written it down on a paper to which I don’t have access until the end of the day. I shall edit this post after I have access to it.

In addition to the details listed on page no. 409, the following are to be provided as well in the plain paper application.

PAN Number
Bank A/c Number
MICR Code
IFSC Code

and the letter has to be posted only from an Indian Address and not from overseas address for legal reasons.

I communicated with the registrar and their reply said, on their website the same form will be available after issue opens, which is 12th Feb. I will wait until Monday to see if that is going to be helpful. If not, I will draft my own letter and proceed.

I have ignored the ASBA option considering other issues. Probably you can consider that if that is convenient to you.

An alternative option which I am looking at is if the price goes below 2500, I may give up the hassle of applying for the rights and load up the shares from the market itself. Hence I posted the question few days back on this thread? The idea behind this is to be not penny wise considering some of the constraints I have. :grinning:


(arun10dec) #573

just email to registrar, he will email the form to you…then you have to send the filled application with cheque or DD.i did the same for South Indian Bank Rights issue successfully. I don’t think if there is any online system to apply for rights.


(Marathondreams) #574

Interview in ET times after Q3 results.

Here AP makes important point that although acquisition is a norm for pharma industry, it is difficult in financial services business as in AP’s words “I am not for buying into financial services firms because I am not sure of the quality.” So true as “book value” can hide lot of unknowns…


(atul1082) #575

If one has the application and his bank is also listed in application form, it can be submitted to bank itself and they would block amount and process application


(Deepak Venkatesh) #576

Hey

I think healthcare analytics will not show matching returns on capital for PEL as of today compared to other business lines. This is my hunch I could be totally wrong. They also acknowledge their humility related to growth rates in their annual report. Quoting from there.

Revenue from Healthcare Insight & Analytics business grew to INR 1,222 Crores in FY2017 from INR 1,156 Crores in FY2016, registering 6% Y-o-Y growth. The Company’s modest growth reflects, in significant part, shifting customer demand away from traditional syndicated market research toward data and analytics-driven, technology-enabled offerings. In recognition of this shift, over the past few years the Company has increasingly invested in technology, data assets and analytics capabilities that enable it to provide user-centric solutions directly targeting high-value client problems. These investments are expected to enable the Company to increase its penetration and growth within its addressable market of USD 16 billion.

There is a breakup of the current market sizing. Important point to note is that they say 70% of revenues of DRG comes from Data which is the cream in this segment. They have relationships with 45 of the top 50 pharma companies.
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Usually in such businesses there is too much dependence on a few handful clients. They claim that the max dependence they have is upto 4% on a client.

Many different sources quote different growth rates for the industry: $32 Bn by 2021 or $20Bn by 2024 with a CAGR of 25%+ for this industry.

So in ‘as is now’ terms it appears to be a drag. But as an investor I would not mind this because of the industry segment.

Also I have mailed the registrar for the application form. Will wait and see what happens. Else I will take the route as advised above for a handwritten application. Thanks for info @sgjaclyn

Regards
Deepak


(abhishkjain2626) #577

Read this in Rights issue booklet: SEBI case against the Piramal for violation of Insider trading regulations. Cause of concern?


(Marathondreams) #578

This is an old issue. More of technical in nature. If I am not mistaken, it was discussed on this forum around that time.


(amit) #579

you should exclude good will while calculating book value.


(abhishkjain2626) #580

Yes, I realised that later on, goodwill seems to be too high around 5k cr due to acquisitions


(rahulshares) #581

Also considering 7k is raised recently it will take sone time to deploy it meaningfully. So mkt will take some time to give it x times of bv.
Currently 7k can be safe to assume it as 1x in mv i.e no effect in mkt price.


(abhishkjain2626) #582

Doesn’t the money raised impact the market cap theoretically (Like dividend)?


(rahulshares) #583

Sentiment wise it definitely does impact amd generally its positive. But just speaking theoretically since shares are issued closed to market prices it doesnt impact much. But Im just making a point that as the money has been raised just recently it will take time for Piramal to start generating ROE on the new capital. So the Price to book of 2.7 you calculated bakes in 2.7times price even for fresh capital which will take some time in my opinion.


(Rahul B) #584

Since the goodwill is 5k cr, current book value is 16k cr, market cap is 48k cr. Shall I assume the correct p/b value as (48K/(16k-5k)) = 4.36 instead of 2.7 as mentioned in presentation by reducing the goodwill. i am newbie and may be wrong… please correct me


(Mahendra243) #585

I havent received the rights form yet…if it is not received for obvious reasons what should be the approach i see one above reply to contact registrar…can someone please share the info if they have?


(atul1082) #586

At times,it’s remain available on co website tooolse call registrar and ask him to mailsoft copy


(Marathondreams) #587

Please fill up your details in the link below and make plain paper application form

https://linkintime.co.in/rightsissue/rightsissues-PlainPaper.aspx


(Mahendra243) #588

Thank you so much

So just by reading it what i understand is if the rights share issue is less than 2 Lakhs we have to take the DD and go to Kotak Mahindra bank in the cities enclosed
If it is above 2Lakhs we can go to any banks for ASBA process ?

If my rights issues is 1L and want to apply for more 1L what process needs to be followed?
what are chances are there to get more shares?
if we are not allotted how we will get the refund?

Anyone please share if anyone has completed the process today


(Marathondreams) #589

Any application above Rs 2L has to be done only as per ASBA process as per SEBI directive. I think you need to go to the bank in which you have your dmat account (since dmat account is linked to your bank account)
You can apply for more shares than what is applicable to you. The process does not change. You need to show additional shares you are applying for to arrive at total no. of share you are applying.
I think chances of getting additional shares are low since current stock price is around 2650 but it is worth taking chance!
In ASBA, no refund required as money does not go out of your account.


(manivannan.g) #590

Update on Piramal Finance Ltd.

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(ramanhp) #591