Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
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They should be named and shamed .. better to get out of that fund completely as they are puppets
That is one big reason I have not placed too many of my shares on bid, and those that I have placed on bid are at high levels in the 1000-5000 rupee range - but this play safe approach probably kept some shareholders from bidding.
Finesse at the finish line also probably kept promoter friendly retail share-holders out to bring in an element of guesswork on the final number.
Fact remains, the dividends here at Vedanta have been good, and there are huge values lying unopened also at Sterlite Copper and Sesa Goa - so back to the de-listing.
I am holding on to about 55% of my holdings and will release the other 45% only if offered 320/-. My averaged price is about 155/-.
Why it is not a good idea to keep shares of a private company is that they can anytime increase the face value of the share to few lakhs, making you a fractional shareholder. Post which, they'll go ahead and settle you with some payment. Also, you are not assured of dividend as well.
If I were you in today's situation, I would sell my balance shares at 2/3 % discount in the market, which will likely be little less than the discovered price and pay STT for LTCG / STCG benefit. If one surrenders the shares directly to the company in next 1 year, the capital gain will be added to the income and income tax has to be paid at higher rate.
That's my understanding, you may take a call what suits you better.
Most of us base our assumptions on 50+40=90 as per SEBI
Motley Fool tends to believe that 61+29 would be = 90
Which leaves 39% shares out in the non-promoter quantum.
There are games underway and the ASD of VEDl at NYSE is a better indicator.
Methinks LIC knows something which probably Govt of India also knows and so eventually 320 will be the call if LaLaJi wants to achieve non-listed status
I am going to be, therefore, a buyer at levels around 108 and then downwards in steps
My current average price is close to 150 and my holdings are to my mind substantial, the dividend was and is attractive, regardless of being re-designated leakage or otherwise
As the fundamentals of the company hasn't changed, it makes sense to invest for enjoying future dividends :)
LIC may have taken the call of Rs. 320 considering their upcoming IPO, am not too sure but there may be a bigger game going on at the higher levels on more PSUs' sale.