Of one observe the trend of holding of axis and vidhit Tulshan it is clear that they had been selling even before delisting announcement . Selling at these prices would rather be more beneficial. Can they tender tomorrow considering that they voted in favour. If they doesn’t it clearly a off market coordination.
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Jupiter has tendered offered at 2500/- on BSE. But this will remain unsuccessful in delisting.
Someone else with a bigger lot has submitted at 1900/- on NSE. Cumulative 7 lakhs now. Only 3 and a half hour left. Only some magic can make it successful.
Hi Naresh, how can we get this top100 shareholder list?
Mail to the company. mention your DP ID compulsorily. Some companies provide some do not.
Axis has also submitted at 1900. This is a mere formality now just to save themselves. This was intended on their part to make it a debacle.
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Still 2 hours left, its aint over till its over
8 Lakh Shares man! In my opinion, the game is already over or should I say has already been played. If we reach even 90% by the end of the day the discovered price will be in the range to 2500-3000. No way this gonna happen. Just see the pattern of rigging here. Axis and Tulshan family which were selling at far lower prices before the delisting announcement have either not tendered or have come late at the party. Connect the dots.
If they sold before delisting announcement, that means they were ok selling right and now they want to hold as they haven’t tendered. I don’t think there are any dots just confusion here
You sell because you didn’t find it attractive naa. Now you intend to hold for what reason? you bid at as higher as 1900/- how on the earth value can swing so sharply for the same person?
Anyway, we always may see things through different lenses.
5.67 lakhs more required. almost 45 minutes remaining.
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Currently 4 lakhs short of it. Tulshan family on its own can take it to the gates of success but they will not. let’s see.
Over now. As per the regulations manager of the issue have to announce the outcome within 2 hours of the closure.
I tried to analyze and provide as much data as I could and shared all the details i had access to but unfortunately, this didn’t go well.
Part of the learning book now.
| Total Shares of TTK Healthcare | 1,41,30,333 |
|---|---|
| IEPF Shares | 1,39,992 |
| Total Shares minus IEPF | 1,39,90,341 |
| 90% Threshold for Delisting | 1,25,91,307 |
| Promoter Holding | 1,05,35,840 |
| 90% minus Promoter (BIDS NEEDED for delisting) | 20,55,467 |
| Shares BID at BSE as of 3:30pm | 7,81,833 |
| Shares BID at NSE as of 3:30pm | 9,20,921 |
| Total Shares BID | 17,02,754 |
| Shortfall (BIDS Needed minus Total Shares BID) | 3,52,713 |
Thank you @Naresh for your guidance. Please confirm if the above number as of closing of BID is correct.
With this delisting mostly failing unless above BID numbers are corrected upwards, What will be the trajectory of the stock price? Back to 800-900 levels seen prior to the delisting attempt?
Also any thoughts on the Promoters strategy on running this company going forward.
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The intention of the promoters was to have access to the cash lying on the books but they didn’t think of a higher discovery price. The buyback would have made the company pay taxes on the distribution and the dividend means shareholders (that includes promoters) to pay taxes. This intention of the delisting was more of a tax arbitrage for the promoters. Higher Discovered prices failed that plan.
I can’t say about the price trend from here. But what I could observe is that the price did not go anywhere in these 3 months but the market went up. The market had already discounted the delisting failure which was evident through the price action, especially in the last 15 days.
The only selling pressure that may come is from those who actively participated in the tendering process and I expect not more than 10% correction should happen from here.
How the promoter will run this business, I Don’t know.
Except for Gripe water, all products have no differentiation and thus have lower margins. I Don’t know about their leadership in ortho or animal division.
In my opinion promoters will in any case will have to think about the cash lying on the books otherwise it will keep hitting the RoCE.
In my opinion either an open offer/special dividend/Buyback is on the way.
Delisting for TTK healthcare has failed as tendered share along with promoter holding is less than 90%
Looking at current market price action after failed delisting, I feel something is cooking up behind the scene.
Usually price should fall to original level on delisting failure, but here is not the case.
Two reasons: First, As i mentioned earlier the delisting has already been discounted. Second, Brokers like Zerodha, choice and angel broking still not showing the holdings in the portfolio. The thing that may come positive now is the plans on the utilization of the cash on the books. On the negative side, If results of this quarter comes terrible, the stock price will go lower.
Top 100 Sharehoders - 14.07.2023.pdf (178.7 KB)
This is the list of the Top 100 shareholders. The same has been obtained under section 94 of the Companies Act.