Harita Seating Systems Ltd. (M. Cap 510 cr)

Thanks for update, so it goes into 2021 while Mind Ind had said it will get concluded in Mar 20.

Any one any update on merger with Minda Ind??

any update on merger and NCLT ? rajasthan globle has purchased good quantity in last few days . their are only two possibilities of buying harita either they are buying on independent latest results assuming merger not going ahead (which dosn’t seems the case ) or buying as they know the NCLT results and merger cleared so they are getting good arbitrage possibilities

As per investor presentation of Minda Industries “NCLT, Delhi has approved the merger however, we are awaiting copy of the final orders. NCLT, Chennai - Awaiting date for announcement of final decision; the hearings have been completed.”

Good numbers reported by Minda Industries. As stock price of Minda has gone up more, price gap for Harita has widened further.

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Yes but those holding Minda for long term can switch to harita and earn handsome arbitrage gains. As now merger will be max 3 months away

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One more step closer, NCLT Delhi done:)…now waiting for NCLT Chennai.

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NCLT Chennai also done now :slight_smile:

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source pls … thanks

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Record date for Merger on 15 th april

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Anyone has a clue as to when do Harita shareholders receive the shares of Minda? Is it like within a week or much longer than that?

I think may take longer upto 2 months.

But overall Minda ind a much better group with good trackrecord n growth mindset versus staid promoters at Harita. Bumper tractor sales shud help further.

Minda ind promoters remain one of few trustworthy promoter feom Delhi region with superb execution track record like Bharat Rasayan. Both cos can form core PF stocks n cud be held for long long time IMHO

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By default Minda Shares will be allotted…

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No, Minda shares will not be issued by default. Form of acceptance choosing between share swap (no brainer) v/s redeeemable preference share has to be sent to mindaind.harita@linkintime.co.in before 11th June 2021

By default u will get Minda shares . But better read full acceptance letter they have sent

Default option is credit of merged company shares in Demat.

(ii) If the Eligible Member has not submitted the duly completed Form of Acceptance to the Registrar prior to the expiry of the Election Period or has not provided requisite details as may be required in relation to the option or where such Election Notice has not been received by Registrar or the Election Notice has returned undelivered or the ownership of the equity shares of Harita Seating Systems Limited is in dispute, then in that event, such Eligible Member shall be compulsorily issued shares as per the Default Option as stated in Clause 18.15.4 of the Scheme.

Read election notice

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Would you know how long would it take for us to get minda shares in our demat after 11th(final date for election) ?

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Minda Industries in it’s presentation of results mentioned that merger with Harita Seating was effective from 1st April 2019. Now in August 2020,it, came with rights @ Rs: 250 in ratio of 1 share against 27 shares held. Now since merger with Harita Seating is effective from April 2019,shouldn’t we,the new shareholders of Minda Ind also get these rights? I had sent mail to Minda Ind ,but didn’t received reply.

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Meeting for allotment of shares