Its already mid September but no sign of listing…Will this be a slowest the demerger in the history of Indian market !!
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I guess listing price will be in between 2281 to 2567 Rs as total no of shares are 35058286
No, Total Share count As per Exchange filing released by edelweiss & Below Business standard article is 1,05,28,746 Edelweiss Financial Services shares trade ex-spin off; stock rises 5% - BusinessToday
Hi Malik, where did get this 3,50,64,294 shares number?
Equity Shares of Nuvama shall be listed and admitted for dealing on BSE Limited and National Stock Exchange of India Limited from September 26, 2023 : https://www.bseindia.com/xml-data/corpfiling/AttachLive/8f3f939d-be4d-4910-89b3-624251101a7e.pdf
News reports say that Nuvama made a profit of 323 cr in 2023. But if I see the financial reported uploaded on their website, that number is 140 cr. Why is that? Any idea?
Financial Report uploaded on Nuvama Welath website:
Any update on listing price? 9,000cr mcap/10.5m shares of rs 10. Is this calculation appropriate?
Am I correct in assuming that the price of Nuvama should be around Rs 2500 if we are expecting 9000 Cr mkt cap?
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Then it will be cheapest compared to its peers…As per 1st quarter results this year PAT Must around 400 Cr…
Assuming 123cr pat for the 1st quarter, it turns to be 492cr for the year.
Regarding nuvama wealth what is their business model can anyone explain. Seems to be operating in a good space of wealth management and Mohnish Pabrai was interested in this stock mostly for its wealth management division.
Corporate presentation (as of September 2023) -
Consolidated entity results are here -
The 123 cr PAT figure is only due to 1 time accounting entry of the demerger restatement. Actual Q1FY24 PAT is about 85 crs.
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Looks like some legacy selling is going on in Nuvama?
Below 2000 it looks good to add given the valuations other names are trading at currently (Anand Rathi & 360ONE; although Anand Rathi has a different business model altogether)
Thoughts?
Is anyone aware when do shareholders receive the cash portion of fractional entitlement of Nuvama shares for those who did not hold Edelweiss shares in multiples of 90? (since demerger ratio was 1 Nuvama share for every 90 Edelweiss shares)
Do we need to follow up with the RTA?
Thanks a lot in advance for your help 
Im not sure, but the fractional shares will be transferred to a trust and from there it will be sold in market rate at that point of time and then it will be distributed,
this may happen in 3 months time
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Thanks a lot!
The reason I asked was because I never received the cash portion of fractional entitlement when Pilani Investment (Birla Group) underwent a corporate event. Although I didnt follow up last time because the value owed was the price of a large pizza, I intend to do so this time
Hopefully the RTA promptly responds.
For any past issues (like pilani or any corporate issue), you can always reach out to the Registrar of the company to recover your dues. You will need to share your demat account details which were to receive the money or the physical folio details.
Once more than 7 yrs Registrar will transfer any pending to IEPF, but they will still be the contact for recovering from IEPF.
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