Centrum Broking: Hexaware Technologies - Scarcity Premium To Drive Up Delisting Price
HT Global IT Solutions Holdings Limited has raised USD 600M for repayment of secured and un-subordinated 7% senior notes of USD 368M and to finance the de-listing of the equity shares of Hexaware Technologies Limited. As bond matures on 14 Jul 2021, company have some time to hold this cash amount and fund the de-listing.
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I have been informed by my broker RKSV/Upstox that I will not be able to submit bids for delisting of Hexaware technologies if I have not updated Power of Attoerney with the broker.
Is this true for all the brokers or this is a random roadblock erected by RKSV/Upstox?
I donot think there is such issue. I just submiited the bid on Zerodha. I have not signed any new paper with them.
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generally its sent as an email with link.
you have to click on ACCEPT button.
check with your broker . many broking houses have done this.
A large chunk of shares has been bid at 475. Must be a mutual fund or a large holder. Quite possible that the discovered price is in this range. A price higher than 500 has the risk of rejection or a counter offer even though the company may be keen to go for delisting.
Bids for Hexaware delisting in NSE are miniscule till now vis-a-vis BSE. Not clear why is there so much difference between the two, whereas in OFS etc, the gap is not that wide.
Total silence on this topic with few posts as we approach the end game, after many views in the initial days ?
I have tendered all my shares at 475 (coincidentally the same price as all the smart money) via Zerodha. I got a SMS from CDSL few hours back - all my shares have been debited from my account.
Has this happened with anyone as well? I’m trying to understand how this works - what if I want to sell my shares in the open market the next day? Does it mean that my offer has been accepted - pretty sure not, then why has the liquidity been taken away?
Yes. The biggies are not aggressive this time. Most of the bids are places at around 470 zone. But even if delisting happen at this price it’s rewarding bet for us given the fact that we all started this when price was hovering around Rs. 322. The last game will be played today. The 90% threshold is yet to be completed. Keep tracking and modify your bids accordingly around 2.30 Pm.
You can change bid price.
Give it a thinking and you will get the idea where to invest. CDSL.
yes shares have gone from holding in Zerodha as well. Looks like Zerodha offers no facility to modify price here on.
Whereas the dilisting offer process will close today i.e 15-Sep-20. Last date for revision & submission of bids i.e 14-Sep-20 is already past. As far as my understanding goes nobody will be able to submit the bids now and even if company accepts all the bids people who have bought shares yesterday and today will not be able bid and they will be stuck with shares nowhere to dispose except at the mercy of promoters.
Even then Hexaware had good volume yesterday and even today till 11:00am almost 1.598 millions have already been traded.
I have not been able to understand who is buying these shares and why? Also, today’s price is higher than yesterday.
Thanks.
Even after today, Hexaware will be continue to trade on stock exchanges for a few days until the delisting process completes and stock is delisted from exchanges. If promoter agrees with 475rs bid, market price will move closer to this price.
ah… i missed to bid assuming that the last date is 15th! I don’t see the bid option in zerodha anymore. So yes 14th was the last date. Anyways, it doesn’t matter.
But i am confused, if the bid date was indeed yday, how come the total bid count is increasing even today. its updated every hour. yday it closed at 27M. Today at 10:30 it was 33M and at 11:30 it went to 54M. May be institutions can bid even today ?? The total bid is still at 50%.
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I have submitted my bid today @475 on HDFC Securities. So I guess it is open today also.
Strange…its not there on zerodha!!
I did the same mistake like @shajis and its not showing on ICICI direct. What should be ideal course of action now. Request guidance.
