Hi Guys,
I just started work on analyzing this company, got following queries :
Disc : No investment yet in this company.
Hi zoro99
Some of your questions may have answers here at BEPL board.
It seems BEPL is giving tough competition to the MNC. In my opinion BEPL Is still a better bet, but there may be different views. Do your homework before investing.
Thanks @Agarwala . I was looking at BEML thread, however this stock has run up quite a bit in last few months hence little skeptical to take position at this stage. Still let me do some research on this sector and then take a call.
Ineos has assigned a floor price of Rs 419 for Delisting and the promoters have indicated a willingness to accept shares tendered at the price of Rs 480, i.e. a premium of about 15% over the floor price. The stock itself has run up to nearly Rs.600 now in the last week or so, which is still quite a ways from the highs it had 18 months ago.
Can someone provide some insight into how this delisting process is likely to work? Given the offer is lower than the current price, will the promoters up the offer price? How long will this take to play out? I believe the last time they tried to delist in 2015-16, it failed.
Disclosure: I hold some Ineos shares and am uncertain as to what to do here.
So, now the postal ballot notice for delisting has been sent. Given the indicative offer price of Rs. 480/-, I am inclined to vote against this proposed delisting. Not that my vote will probably matter :), but for what it’s worth!
Among other things, the postal ballot notice says the following: “The Promoter further informed us that the Indicative Offer Price should in no way be construed as a ceiling or maximum price for the purposes of the book building process and the public shareholders are free to tender the equity shares of the Company held by them at any price higher than the Indicative Offer Price in accordance with the Delisting Regulations”.
It further says “The exit offer price will be determined through the book building process specified in Schedule II of the Delisting Regulations. The final exit offer price will be determined as the price at which shares accepted through eligible bids during the book building process takes the shareholding of the Promoter to 90% of the paid-up share capital of the Company, excluding the shares which are held by a custodian and against which depository receipts have been issued. The Promoter shall have the sole discretion to accept or reject the price discovered pursuant to the book building process.”
How does the “book building process” to discover the final exit offer price work? Can some of the experts (@dineshssairam, @hitesh2710 etc.) here share any pointers? Thank you!
Hi Guys…
Are you planning to tender the shares. If yes, at what price??
Heard that some mutual funds have quoted 899/-.
Any updates/ Information is welcome…
Hi,
Here is the latest status of bidding for delisting. It seems clear that both large MF shareholders Nippon & Sundaram have tendered their holdings at 899 & 900 resp. (adding up to 5.81%)
It might not leave much further room it seems, tomorrow (22 Jul) being last day for bidding, one can review status tomorrow and bid thereafter.
If one were to bid at a price higher than discovered price, they will still be able to tender shares for up to 1 year after delisting, to the Company as per regulatory guidelines.
https://www.bseindia.com/markets/publicIssues/BSEBidDetails_ACQ.aspx?flag=ec&Scripcode=5189
Books built at Rs 1100/-
Let’s see, promoters have 3 options now
a) Accept the price discovered @1100
b) Give a counter offer
c) Scrap the plan
What’s your opinion??
Scrapped. With the big MFs tendering at 900, little surprised that they scrapped it at 1100. Promoter saying they dont intend to give a revised offer. Stock is expectedly down 20% today and i guess more to come next week too. Lets see where this settles.
This was a surprise move. Scrapping without giving a counter offer !!
Stock might go back to 450 levels, considering below par performance over last couple of years.
I dont think it goes back all the way to 450. Performance hasn’t been great thats for sure but with the promoter having tried a buyback, the stock will continue to get a premium over that price at the very minimum i feel.
It is quite a surprising move by Co. which is the 3rd Chemical Co in the world. The Cash outflow from parent was just 300 Crs (approx. 40mn USD) to complete delisting. Also valuation seemed fair at 1100/share, it was around 1.2 Times Sales.
Seems Co. was trying to get away a lot lower valuations.
Again considering that they are not listed anywhere in the world, it further made sense to delist.
Good results
If Q2 results can be maintained, this MNC is possibly the cheapest specialty chemical stock; trading at 16xPE, without adjusting for minor net cash on books.
Company repaid Rs 81 cr of debt in H1FY21 and turned net cash. At first glance seems like a turnaround, with margin improvement and debt reduction.
Invite thoughts on the company and business.
Bhansali Engineering Polymers Ltd. posted spectacular results. Hope Ineos delivers similarly.
Superb results from INEOS Styrolution. Even if Q4 PAT is half of Q3 PAT, EPS will be Rs 100, resulting in a PE of 10; for an MNC
If the prices sustain which they have in January atleast, there can be another good quarter for the company. Any good source for tracking ABS prices?
Any update on trend in ABS prices?
