Hope you are doing well.
On 23rd May’23, we released Shreyas Shipping & Logistics (NSE Code – SHREYAS) Special situation opportunity for our Alpha + members and would like to share with you details on the same.
While the special situation corporate action is still ongoing, we closed it for our members around 380 odd levels.
Basically, we initiated it in May’23 around 331 odd levels. Post that the company announced the floor price for delisting as Rs 292/- and then shared an indicative offer price of Rs 375/-.
The reverse book building for the delisting started on 20th Sep’23 and ended on 26th Sep’23.
The price that was discovered via the reverse book-building procedure was Rs 890.
However, promoters rejected the discovered price of 890 and came up with a counter offer of Rs 400. The bidding period for the same is 11th-17th Oct’23.
Why did we close before reverse book building ended? – On 23rd Sep’23, we shared an update with our members regarding closure of the opportunity. Then the stock was quoting around 378-380 odd levels. Thus, a decent gain of around 14.5% in 4 months.
We closed the opportunity citing the following reasons:
As explained above, there are a lot of uncertainties involved in the delisting process. One cannot be sure till the last day if the enough shares will be tendered, if enough shares get tendered what will be the discovered price, whether the promoters will accept the discovered price, decline it or come up with a counter offer.
Lastly, if the delisting fails, the stock price crashes. Thus, we closed the opportunity.
To understand how delisting opportunities work, thought process behind participating in this opportunity, you can read the report (free access) by Clicking HERE
Just a few days back we released our new stock recommendation for our Alpha and Alpha + Members.
It’s a sub 3,000 crore market cap company wherein we are expecting company might double its profit in the next 3-4 years
The management has introduced a new product line wherein they are targeting 600 crore + sales in FY 26 with EBITDA margins of 20-22%
The company is amongst the top 2 players in its industry
For more details on the stock recommendation – click HERE
Disclaimer: This is not a recommendation to buy/sell Shreyas Shipping and only a way to showcase our research. The securities quoted are for illustration only and are not recommendatory.
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Research Analyst Details
Name: Ekansh Mittal Email Id: [email protected] Ph: +91 727 5050062
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The views expressed are based solely on information available publicly and believed to be true. Investors are advised to independently evaluate the market conditions/risks involved before making any investment decision
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Disclaimer: You can access it here – LINK
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