Net impact is that 0.96Cr of new shares will be issued to the bondholders. The o/s shares will increase from 3.01Cr to 3.97Cr and each investor’s share of profits/EPS will decline by 32%. So if you were projecting an EPS of 15/share this year, it would get reduced to 10.2/share. This is a substantial dilution in my view.
PS: Haven’t studied the company, don’t know anything about the industry, just reacting to your query.
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