Delisting Discussions

Not demerger specifically, but here are few open special situations currently in progress : -

  1. IDFC reverse merger with Bank - Expected completion by end FY22
  2. GFL demerger into IWEL & GFL & subsequent reverse merger - The first part of this is thru with listing of IWEL; second part probly by H1 FY23
  3. Indiabulls Real Estate : - This merger expected to complete by this year end vl see re-rating of the stock due to merger into a bigger entity & new promoters. Thr’s an excellent thread regarding this for reference.

Request fellow pickrs to share views regrdng above & any other special situation opportunities in sight.

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The promoters of the Elcid investments ltd require the company to voluntary delist from both the exchanges. CMP is around Rs. 17 and the floor price has been set at Rs. 1,61,023. Highly illiquid share.

Disc. : holding some shares

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How did u ever manage to buy shares ? I tried for years and then gave up as this was always upper circuit or no volume

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the way in which NOVARTIS is licensing out its drugs ( as to JB CHEMICALS:JBCPL gets trademark assignment of HF drug Azmarda from Novartis for Rs 246 crores) or selling some businesses (like as done to DRL:Novartis India enters distribution pact with DRL for top brands, to lay off 400 employees - The Economic Times)…i have a hunch that they might go for delisting since anyways they own 70% and for successful delisting the promoter ownership should cross 90% so they need to buy 50 lakh shares out of total 2.47 crores at a price of 700 ( average of stock price of last 6 months )…so this amounts to 350 crore and they have reserves of almost 700 crores.

If anyone else can scuttlebutt

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Anyone aware of the Terai Tea delisting offer?

The VP forum does not have any coverage of it. What attracted my attention was:

  1. Low price to BV (Current BV 211, CMP 74), moderate debt

Credit report: Rating Rationale

  1. The tea industry in India likely have favorable days ahead, on account of turmoil in Sri Lanka economy and tea exports of Sri Lanka
  2. Chart of the scrip. I am not an expert, seems to be a CNH formation.

Request seniors and others guide if there is an opportunity in the scrip

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DFM Foods Announces delisting.

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is there some chances of Indian unit getting delisted ?

image

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Advent Announces Proposal to Delist DFM Foods From Stock Exchanges - Advent Announces Proposal to Delist DFM Foods From Stock Exchanges - Equitypandit

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R System International

Special situation: Conditional Delisting

  1. CMP: 260/-
  2. Offer Price: 245/-
  3. Promoters hold 51.67%
  4. Public sharehlding is 48.33%
  5. Minimum number of shares for successful delisting: 90%
  6. Shares held by Bhavook Tripathi: 36.93%
  7. Given the background of Bhavook, he is unlikely to offer at this price and will ask for higher prices. But it will be wholly dependent on the Black stone (Acquirer) to accept or reject (influential side of the trade).
  8. Currently, the company trades at a premium and does not offer any margin of safety.
  9. What if bhavook offers at 245/- Maximum loss of 15/- ( Probablity 10%)
  10. What if bhavook offer at higher prices (say Rs. 350) and the company accepts that price? (0%)
  11. What if bhavook doesn’t offer at all and the blackstone back off (Probability 90%)
  12. Blackstone prima facie doesn’t seem to be desperate to buy and therefore there is little chance of acceptance at higher prices. There can be only one reason for R System acquisition i.e merger with mphasis limited for potential synergy gain.

Disclosure: Have a tracking position as I want to keep it as case study for future.

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