Chuckle !

Essar Oil Delisting is Over or is It !? ~ Glitch or Golmaal !?

2 Comments / Blogs, Chuckle !, Controversies, Corporate Governance, Holding Companies, Hydrocarbons, Insider Trading, Inspiring and Motivating, Interesting News Sightings, Investing Approaches, Investing Themes, INVESTOR MISTAKES, Media & Me, Oil & Gas Exploration, Open Offers & Buy Backs, Reflections, SEBI, Sectors, STOCKS, VALUATION, When the Heart Explodes through the helpless Mind / By Gaurav Parikh

Essar Oil Delisting is Over or is It !? ~ Glitch or Golmaal !?

Yesterday at 3.30 pm was the cut off time for all shares to be tendered in the Essar Oil reverse book building on BSE & NSE

The First criteria for the delisting endeavour to be considered successfull is that at least a minimum number of 92,569,408 Shares be tendered in valid bids from the 142489858 Equity Shares being 28.54% of the public shareholding that could

At Closing 3.30 pm on Monday,December 21,2015 BSE & NSE showed aggregate cumulative bids for 101143045 shares

So then what’s the problem !?

1,98,99,305 shares from 8 bids all at Rs 262.80 are yet showing unconfirmed on the BSE Screen !

Seems there is a Glitch ! or was it a Golmaal !?….if so for what purpose ? …to derail the delisting effort !? If so ,why!?

Seems Ruias of Essar court controversy regularly….either they follow it or it like a guided missile follows them !

The 8 Unconfirmed Bids for Rs 262.80 for 1,98,99,305 shares apparently is from the LIC Holdings of Essar Oil in their various portfolios

If you remove these unconfirmed bids then the valid bids aggregate just 81243740 shares which is short of the 92,569,408 shares requisite

BSE has referred the matter to SEBI for guidance as to whether they should accept the LIC Bids as confirmed and therefore valid….if they say ‘Yes’ and that it was a genuine issue by Stockholding who were unable to upload the bid as confirmed in time by 3.30 pm for LIC then we have the Discovered Price or Exit Price of Rs 262.80 provided this price is accepted by Oil Bidco( Mauritius ) Limited the Acquirer….they can of course offer an even higher price than this to garner more shares

Essar Oil has got to be extremely anxious for delisting….in 2014 I had raised a stink when they set a floor price of just Rs 108….SEBI had to stop the effort…..however they allowed it this time around with a higher floor price of Rs 146.05….in my view they should not have until the Rosneft Deal price for acquiring 49% stake in Essar Oil which is being negotiated was announced

Essar Oil is anxious that the delisting takes place before the Rosneft deal as otherwise that would have triggered of an Open Offer by Rosneft and would have disturbed the Equity Stake Holdings by Essar Oil Promoters & Rosneft leaving Essar Oil Promoters vulnerable

Whatever ! ~ even if this delisting is allowed with LIC’s bid being accepted at Rs 262.80 the shareholders who bid below this price or the exit price to be announced by Oil Bidco will also get the Discovered Price which will now be established at a minimum of Rs 262.80. Oil Bidco can accept this Price or announce a higher one as the Exit Price .It of course can reject it and the delisting would then not have succeeded read more

Essar Oil Delisting ~ Love the Guy who has tendered at Rs 5630 !

1 Comment / Blogs, Chuckle !, Controversies, Foreign Institutional Investors, Hydrocarbons, Insider Trading, Inspiring and Motivating, Interesting News Sightings, Investing Approaches, Investing Themes, INVESTOR MISTAKES, Oil & Gas Exploration, Open Offers & Buy Backs, Refining & Petrochemicals, Reflections, SEBI, Sectors, STOCKS, VALUATION / By Gaurav Parikh

😆 Love the Guy who’s tendered on NSE for just 25 shares at Rs 5630 in the ongoing Essar Oil Delisting Endeavour !

Look at the NSE Confirmed Demat Shares Tender Position as at 3.30 pm this afternoon

Who in their right mind would tender at Floor Price of Rs 146.05 or even below Rs 200 when current market Price closed at Rs 225 + levels ! ~ Yet some have !

Most No of Tenders so far have come in at Rs 240

Last date is on Monday,December 21,2015

Wonder what LIC will be doing with their holding !

Essar Oil Limited

As on 17-Dec-2015 15:30:00 IST

Price	No. of Orders
Price	No. of Orders	Demat	Cumulative Demat
146.05	14	505	505
150.00	1	200	705
152.00	1	150	855
152.05	1	200	1,055
156.00	1	0	1,055
160.00	1	175	1,230
180.00	1	100	1,330
185.00	1	0	1,330
190.00	1	0	1,330
200.00	7	700	2,030
207.00	7	0	2,030
209.90	2	7,900	9,930
210.00	8	2,705	12,635
214.90	2	300	12,935
215.00	7	2,02,607	2,15,542
218.00	2	400	2,15,942
218.20	1	300	2,16,242
219.00	1	18,282	2,34,524
219.80	2	1,500	2,36,024
220.00	19	75,117	3,11,141
220.75	1	50	3,11,191
222.00	5	80,834	3,92,025
223.00	1	0	3,92,025
224.00	1	10,000	4,02,025
224.80	1	600	4,02,625
224.90	1	50	4,02,675
225.00	17	42,28,421	46,31,096
230.00	19	86,105	47,17,201
233.00	2	600	47,17,801
235.00	8	26,599	47,44,400
236.00	1	20,000	47,64,400
238.00	2	2,250	47,66,650
239.00	4	10,13,451	57,80,101
239.40	1	200	57,80,301
239.50	1	1,000	57,81,301
239.75	1	100	57,81,401
239.80	1	890	57,82,291
239.85	1	1,000	57,83,291
239.90	1	75,000	58,58,291
240.00	197	88,71,013	1,47,29,304
242.00	1	0	1,47,29,304
245.00	1	250	1,47,29,554
250.00	5	1,840	1,47,31,394
255.00	1	300	1,47,31,694
275.00	1	10,051	1,47,41,745
280.00	1	100	1,47,41,845
290.00	1	300	1,47,42,145
300.00	4	3,340	1,47,45,485
325.00	1	200	1,47,45,685
330.00	1	729	1,47,46,414
350.00	1	1,500	1,47,47,914
400.00	1	100	1,47,48,014
496.25	1	400	1,47,48,414
500.00	2	675	1,47,49,089
550.00	1	600	1,47,49,689
600.00	1	400	1,47,50,089
700.00	2	16,500	1,47,66,589
5,630.00	1	25	1,47,66,614

If interested check out my earlier blog last week (with updates) for the full Delisting Story

Essar Oil Sets Rs 146.05 As Floor Price For Delisting ~ Critical Questions Remain
December 7th, 2015

A Rhetoric Question ~Will Petrol In India go back to 1963 Rates !?

8 Comments / Chuckle !, Economy, Global Economic Crisis, Global Geo Political Crisis, Hydrocarbons, Insider Trading, Interesting News Sightings, Investing Approaches, Investing Themes, Oil & Gas Exploration, Politics~India, Refining & Petrochemicals, Reflections, Sectors, Union Budget 2014/15, VALUATION / By Gaurav Parikh

🙂 Will Petrol go back to 1963 Rates in India as on this old bill from then ! ? ~ Question is of course rhetoric !

Read that again ! It’s just Rs 3.60 for a full 5 liters !=> that’s 72 paise a litre nearly 53 years ago on February 2,1963 !…it’s surged to current @ Rs 70 a litre which is in absolute terms 9600+% and in CAGR Terms just 9%

You can dramatically of course say that 72 paise has become 72 rupees in just over half a century !

Today everyone has an Opinion on Oil Rates !

Of Course very Few ,if at all any, had predicted in mid 2014 that they would halve from US $ 100/barrel

Now many are predicting they will halve even from current US $ 41.65 (WTI) & US $ 44.61 (Brent) ! .Here’s an interesting article of October 2015 on Oil & the Syrian War

Great for India if it does halve from the halve already in on year !…it’s cushioned our FY 15 & FY 16 significantly as we import 3/4 ths of our growing requirements and we are growing at 7.4% GDP on last count

Oil’s Well that ends Well !

India is in a sweet spot !…for now…will it get sweeter?

Interesting Interaction with Market Doyens Deenaben Mehta & Ramesh Damani

6 Comments / Chuckle !, FMCG, Information Technology, Inspiring and Motivating, Interesting People I Meet, Investing Approaches, Investing Themes, INVESTOR MISTAKES, Pharmaceuticals, Reflections, Sensex, STOCKS, VALUATION / By Gaurav Parikh

Last Evening interacted with Ramesh Damani ….glad to have caught up with him after awhile…..he presented historical evidence of Global Bull Runs where Indices have zoomed 5x and 6 x in as quick time as 5 years and the biggest of all being 21 x by Nikkei…. says we have commenced one in India from Sensex 17500 levels in August 2013

Rolling on his thought I asked him that at 28000 currently we are at only 0.6x two years down! so would he hazard a guess where we would be in a few years and would that then make even the passive Index Investing a good if not great Wealth Creation Approach for the next few years

In lighter vein he stated that he had said 50000! at a Phuket get together organised by Tata Mutual Fund and yes Index Investing would be wise too

I would say ~ Well look at it this way ! From 17500 to 28000 in two years is @ 25% CAGR on the Sensex and if we keep this up for the next three years we would have crossed 50000 by 2018…..Our Sensex has returned 17% CAGR since inception over 30 years ago though it’s performance has been lower and erratic in lesser periods of 5 and 10 years.

Oh by the way Ramesh asserts that Direct Equity first and Index Funds next is the way to go and not Equity Schemes of Mutual Funds….am completely in sync with him on this

His pet theme is Pharmaceuticals & the Digital Story & those who support E-Commerce Boom like Logistics Players….does not like PSU Banks even at Book or below…gives a thumbs up to Technology & FMCG going forward

Met Deenaben & Asitbhai Mehta too….she’s a pioneering lady in Indian Broking and Asitbhai & her are a well respected couple in the field ….owe them at least a great dinner now for Deenaben proclaiming among 50 present including Pradip Shah(IndAsia),Dilip Piramal(VIP) and Y Trivedi(Reliance) that I should not be the one asking questions but instead be up there answering them on Wealth Creation through Indian Equities !

Deenaben you’re too sweet ! thank you for the lovely compliment ! hope you did not see me blush !

🙂 Her take on the Sensex going forward is quite straightforward and humorous ! “See BJP has 282 Lok Sabha Seats and multiply by 1000 we are at 28200 levels…NDA Coalition has 330 seats so I’m looking now at 33000!”….can’t argue with such funda logic !

😀 Definitely owe Deenaben & Asitbhai a lovely dinner and before Sensex reaches 33000 !

Oh! almost forgot ! as we were leaving,a relatively young gentleman walks up to me and says ” Sir,I’m a great fan of your blog.It’s one of the best !”…told him to interact through responses on blogposts as I could not recollect the name he gave as being one who has responded before read more

Interesting Characteristic of World Facilitators like Facebook & Uber & Alibaba & Airnb

Leave a Comment / Chuckle !, Inspiring and Motivating, Investing Approaches, Investing Themes, Reflections, STOCKS, VALUATION / By Gaurav Parikh

Interesting Characteristic of World Facilitators Worth Billions

🙂 Wow ! How just a software and technology driven Scalable facilitator Idea driven by Internet & Mobile Telephony can become worth Billions & Billions in quick time and yet not have to invest in or create the assets it needs to facilitate the Business !

Squirrels are back in May !

Leave a Comment / Chuckle !, Inspiring and Motivating, Investing Approaches, Investing Themes, Reflections, VALUATION, When My Mind Meanders... / By Gaurav Parikh

What a Lovely Saturday Morning! The Squirrels are back in May !….they had vanished in April and early May….learnt it was their mating season….first the sparrow awaits it’s turn just below the water pot….then the parrot does as squirrels feast and scamper around….only to finally realise that the squirrel does not mind sharing….all are early breakfast eaters before the pigeons and crows raid….it’s fascinating how the whole day they all play tug of wars and musical chairs….often in greater numbers…like twenty sparrows feasting and twittering and chirping !….Heavenly ! Blessed!

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