Looks like Piramal is slowly aligning its corporate structure for eventual demerger of Pharma and Finance business…
Based on the news which got published today in ET?
But i think it will be done somewhere in 2020 when financial service will be one of the big giants
Any idea how to apply for this rights issues on icicidirect?
You can’t apply online for this rights issue. It has be done offline either by filling up CAF sent by company or by filling up plain paper application from as mentioned above.
I have downloaded the plain paper form and will be going to kotak bank in Hyderabad…I have called them…they said only that branch is receiving the right issue applications…but i am spectical to give the cheque or DD…sometime cheque will not be honoured and return back if there is slight mismatch in signature…
So anyone who has finished can throw some light which is better option?
Say if i have 10 right share can i take direct DD for 23800 in the name of “PIRAMAL ENTERPRISES LIMITED - RIGHTS ISSUE - R”
I’m first time applicant for any rights issue so have some doubts:
- I’m eligible for, say, 10 shares and I’m going to apply for 13 shares. There may be many with less than 23 shares and wouldn’t be eligible. Or people who are not interested, forgot, etc. Logic is I am planing to apply 1.3-1.4 times my eligibility. Is my logic right? What would happen if I’m allotted only 10 shares that I’m eligible for?
- If I send a cheque, would it have to be a “payable at Mumbai” cheque only? What extra amount I’ve to add in case of a DD?
I feel the best way for under 2 lakh people would be to apply though the CIF received (or which can presumably downloaded) and then apply through cheque/DD.
Is it possible to tick the ASBA option and submit to bank where you hold the account instead of cheque/DD to kotak bank?
It is 2018 and still no online options for corporate actions. Demat providers need to do more deserve AMC.
Any one knows if ICICIDirect offers the option to apply for rights issue online?
Please read above this has been answered…you have to visit Kotak Mahindra Bank in your city if your right issue is less than 2Lakhs or else you can do ASBA
It’s seems even for retail investors less than 2 lac amount can apply through either ASBA or non ASBA, is it
Is there an Ambit report being bullish on anything at all?
Yes, they mention ‘Buy’ for Icici and BoB right at the end of this report.
For an investor every piece of information is valuable. With that in mind, wont it be more appropriate to discuss the concerns highlighted in the report than doubting the credibility of Ambit.
It is a known fact which could be traced to quarterly investor presentations of all these companies mentioned that they are increasing the exposure to LAP - which is of higher risk levels though rewarding. Part of the compulsion towards LAP is to maintain their growth. This could become a double edge sword and that exactly is highlighted in the Ambit report. All the NBFCs mentioned as well as the HFCs including the names mentioned and those not mentioned like DHFL are active in this domain.
The RE prices have corrected to some extent however, they are still inflated. Any downward spiral of RE could increase the NPA levels of these companies and consequently affect their valuations adversely.
The “Snake Oil” Affordable housing didn’t pick up steam yet for the HFC and NBFCs in this sphere.
Notable exceptions to LAP story is Gruh and CanFin - one is market’s darling and the other is not.
Let us make an effort to challenge the thesis of Ambit, than rubbish it.
Discl. I had investments in most, but exited most HFCs and NBFCs mid Jan , Not invested in Piramal, Now watching at the sidelines with interest, and for an opportunity to enter at lower levels.
Though m admirer of ambit research quality (not recommendation quality ),this time disappointed on research quality too. Looks like Ambit is 2 steps behind and Piramal 2 steps ahead. Based on Q3 transcripts of many real estate firms and sales booking plus other data point, future looks fir sure on a changing track . Point no 2, Mr jijna has explained multiple times that real estate profitability is a very localized conCept depending on micro location, price band, BS size . Point no 3, I think AP is well aware that competitive intensity will be higher and hence he has given enough sighs of areas from where next Few years of growth will come .
One can go through Ashiana, kopte, sobha numbers of sales booking n transcripts of Q3. However, still I would say real estate remains a non generalized market to a great extent . AP signals about commercial real estate and hotels (the demand supply data by respective area research agencies look convincing ), ARC n retail HFC as next area for growth so, I think 1. He is aware on a higher retail estate b2b loan book it is difficult to grow at that pace and hence he has already identified area to grow 2 he is again thinking ahead. But this is only an educated guess backed my some of articles n Real Estate backed by Q3 numbers n research reports
Note: I just love ambit research reports n their research quality. Yes, might be an outlier but have my share of disagreements n this is one of them. A strong admirer of Saurabh Mukharjee n waiting for his next book to arrive via Amazon
Real estate is an ever green sector. People will require a roof over their top thousand years before us and a thousand years ahead of us. I will always be happy to back someone who makes that dream a reality. So what differentiates this sector is only irrationality. I will be more happier to barrack for someone who has proven over the last 5 to 10 years or in other words who had been rational over this period. DHFL, CanFin, IBHousing, obviously the HDFC Group have a proven track record over this period. PNB Housing was not public over this time. Repco, LIC Housing, HUDCO, GIC have faltered over this time. so On an valuation basis Iam happy to back DHFL, IBHousing and PNB Housing.
Apologies for barging in the middle of a conversation. Apparently the game is changing as highlighted by @suru27
So while the past business of HFCs have been a dream run, the business model of past may have little relevance to their future growth thrust. They are venturing into potentially riskier terrains (or waters) as the case may be, which makes riskier bets than they were in the past. While the growth story may continue at same or higher pace, but at what cost and consequence?. That is the question.
On this thread, let us overall focus on how these are gonna affect PEL
Thanks for hilighting . Also, there r two parts to it. The risk side n reward side. Some of new lending areas may be more risky or more cyclic than traditional areas n point accepted , the brighter side counter point could be
1.new avenues to keep growth continuous with flavor of quality intact could b possibility
2 . Related diversifications r good n add stability to books in specific turbulent times . Like how some of the nbfcs ve evolved from pure play brokerage to multi asset financial class. Add more stability specially in single asset class turbulent times
Apologies for diverting back to the rights issue. One of my friends is entitled to 13 rights shares. He isnt applying. Can I apply for them? And how?