Hope you are doing well.
On 13th Oct’23, we released Glenmark Lifesciences (NSE Code – GLS) Special situation opportunity for our Alpha + members and would like to share with you details on the same.
The corporate action is still ongoing and we haven’t closed the opportunity as yet.
Basically, we initiated it in Oct’23 around 650 odd levels and the current price is around 720. In between, the company also paid out Rs 22.50/- per share dividend.
What was the special situation in this opportunity? – Basically, on 21st Sep’23, Nirmal Ltd entered into a definitive agreement with the existing promoters of GLS to acquire 74.84% stake in the company at 615/- per share.
Post transaction, existing promoters would be left with 7.83% stake in the company.
Also, Nirma announced a mandatory open offer to acquire 17.33% stake in the company from the public shareholders at Rs 631.20/- per share.
Why did we initiate a recommendation on this opportunity at 650 to our members? – We looked at it as an opportunity with known low downside and an unknown upside. The reasons were as follows:
As explained above, during the tendering period, one can tender shares at Rs 631.20/- with 100% acceptance and limit the downside in case of a fall.
To understand how open offer opportunities work, thought process behind participating in this opportunity, you can read the report (free access) by Clicking HERE
Currently we have 5 stocks in our buy-list.
Also, recently we recommended a new stock to members wherein Promoters themselves have increased stake through open market purchases.
You can get the above stocks and other recommendations by signing up HERE
Disclaimer: This is not a recommendation to buy/sell Glenmark Lifesciences and only a way to showcase our research. The securities quoted are for illustration only and are not recommendatory.
SEBI Research Analyst Registration No. INH100001690
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
This report is for the personal information of the authorized recipient and does not construe to be any investment, legal or taxation advice to you. Ekansh Mittal/Mittal Consulting/Katalyst Wealth is not soliciting any action based upon it. This report is not for public distribution and has been furnished to you solely for your information and should not be reproduced or redistributed to any other person in any form. This document is provided for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. Ekansh Mittal or any of its affiliates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Neither Ekansh Mittal, nor its employees, agents nor representatives shall be liable for any damages whether direct or indirect, incidental, special or consequential including lost revenue or lost profits that may arise from or in connection with the use of the information. Ekansh Mittal/Mittal Consulting or any of its affiliates or employees do not provide, at any time, any express or implied warranty of any kind, regarding any matter pertaining to this report, including without limitation the implied warranties of merchantability, fitness for a particular purpose, and non-infringement.
The recipients of this report should rely on their own investigations. Ekansh Mittal/Mittal Consulting and/or its affiliates and/or employees may have interests/ positions, financial or otherwise in the securities mentioned in this report. Mittal Consulting has incorporated adequate disclosures in this document. This should, however, not be treated as endorsement of the views expressed in the report.
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