Ok, Understand … update the sheet afterwards.
Equity dilution at discount … who are these people ?!!
I still uncomfortable with promoters behavior!!
It seems like you don’t understand how warrants work. They took the warrants in August when the share price was around 490-500 rupees. Then how is it at a discount?
In fact, the promoters are paying for the warrant within 3 months which is much less than 1-3 years that is the normal expiry period of the warrants. It shows that the promoters are really keen to invest in the company and also to increase their stake at the market valuations.
I understand when people raise questions about transactions that is not clearly explained by the management but to blame the management without understanding the process is not good, especially on this forum.
I am adding this link below so people can have better understanding of how warrants work-
and please remember that Warrant is a perfectly legal and normal process for raising money in Indian markets, and many big companies in the past have used this route.
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Timeline of convertion of warrants
Timeline of promoter selling
Promoter is booking profits from warrants.
This deal should be called a related party transaction if what you suggest is true.
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We need to understand that Promoter is not one specific person in this case. There are many promoters in Praveg, some are buying stake via warrants while some others are selling. Since most of the promoters are from the same family, it can be due to some internal family related issues.
I have seen similar cases in other companies e.g. Usha martin has a promoter who is selling the shares consistently while the other promoter (brother of the first one) is increasing the stake (although in smaller quantities).
Regarding Eulogia, I agree the management didn’t make enough disclosures but I am surprised that none of the investors raised this topic in the recent concall. If the people here are so concerned about these transactions, why isn’t someone asking these questions in the concall?
For me, I don’t see any of the above mentioned points alarming and hence haven’t raised it in any discussion with management. But many members are raising these issues since many months but are unwilling to take it to the management? Has anyone written a mail to the management or raised this topic in the investors’ call? If not, then it seems suspicious that one is only raising the issues here.
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Another bomb dropped by Promoter Group as Transfer of scripts within the grp, entire series of transfer right from resignation, warrant issue, merger and now Share transfer make this very complicated for retail investor. Can someone explain what is happening, are we sensing any wrong intention here… Expert pls help
Report on new Praveg tent city in Ayodhya, 200 metres from the Ram mandir.
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e7ef8ec4-d382-4193-b8b5-2f909dcc98dd.pdf (bseindia.com)
December 20, 2023: Praveg Limited, India’s leading eco-responsible luxury
resorts company, announced receiving the work order for Development, Operation, Maintenance and Management of at least 50 tents at Agatti Island, UT of Lakshwadeep, with a Cloak Room, Changing Room, along with commercial activities like Scuba Diving, Destination wedding, corporate functions and many
more facilities. The work order is for a period of three (3) years that could be extended up to another two (2) years.
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Shares moves on news - order receipt and equity dilution. Equity dilution is real and order execution is not sure!! At this valuation, one should be careful !
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Praveg-658
Market cap-1490 cr
Triggers;-
On 26th December there’s a board meeting for issue of raising money…most probably preferential issue… company is continuously getting more orders… company is on hyper growth path…q3 is usually the strongest… companies lot of new properties are becoming operational…valutions looking at future growth and management track record looks cheap…sage one owns near 1.75%, they are one of the smartest investors in Bharat.
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December 26, 2023: Praveg Limited, India’s leading eco-responsible
luxury resorts company, announced receiving the work order for Operation, Maintenance and Management of Jalandhar House, Diu and Damanganga Circuit House, Silvassa. The work order for both properties is for a period of Seven (7) years that could be extended up to another Three (3) years.
Jalandhar House and Damanganga projects are spanning across a sprawling 15,000 and 12,000 square meters respectively. These expansive properties represent an exciting addition to Praveg’s portfolio, aimed at delivering an elevated and premium guest experience, further enriching our commitment to
exceptional hospitality.
With the addition of these properties, Praveg will now have 9 properties in operation and 12 under development. Company aims to further add more eco-responsible luxury resorts across India.
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I understand they are rapidly expanding and grabbing opportunities every right, left, and center. But just wanted to get the community’s opinion if these places are exciting enough to garner 70-75%+ occupancies? Or are they adding additional opeX with the market’s assumption of guaranteed growth/demand?
Discl: Small Tracking Position
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how are the valuations cheap at these levels??
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Management has given Revenue Guidance of Rs 300 Cr for FY 25 and Rs 700 Cr for FY 27
Now lets assume EBIDTA Margin of 50% , Profit for FY 25 would be around 150 cr and PAT would be Rs 100 CR
Current Market Cap is 1600 Cr (Aprrox) , Thus stock is trading at forward PE of 16x.
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Name of Proposed Allottees
1 Tata Mutual Fund* Non-Promoter 5,25,000
2 Kotak Mahindra Life Insurance Company Ltd Non-Promoter 3,00,000
3 Jyotiprasad Taparia Non-Promoter 75,000
4 Sanjeev Taparia Non-Promoter 1,12,500
5 Ashutosh Taparia Non-Promoter 1,12,500
6 Ajay Jaisinghani Non-Promoter 30,000
7 Giridhari Jaisinghani Non-Promoter 15,000
8 Ramesh Jaisinghani Non-Promoter 80,000
9 Saket Agarwal Non-Promoter 1,00,000
10 Monika Garware Non-Promoter 50,000
11 Kiran Patel Non-Promoter 10,000
12 Sudhir Patel Non-Promoter 10,000
13 Rekha Rajesh Patel Non-Promoter 70,000
Total 14,90,000
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Issue price is 670 Rs which seems good
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What’s gotten to the stock ? It’s leaping every day. It’s kind of scary. It’s making me feel to book profits at this level. Looks like ppl pinned too many hopes on this counter.
DISC : Invested heavily at 450 Rs
Hold at least till the results.