Bombay Swadeshi Stores

Well, Bombay Swadeshi Stores is being taken over by Mr. Radhakishan Damani and his family members. Mr. Damani is known as an astute stock picker. He enjoys an excellent reputation for spotting good business opportunities. Mr. Damani also runs the successful D'Mart range of retail stores.

Though there may not be much synergy between Bombay Swadeshi and D'Mart, the fact is that Bombay Swadeshi does have a well known brand image and retail outlets in several cities. With D'Mart's managerial expertise, it may be able to monetize these advantages better.

I don't think there is any reason to feel concerned about the change of management. In any event as the market price is Rs. 150, the question of anyone opting for the open offer does not arise.