Disclosure: Am trying to understand special situation, below illustration is just for study and feedback purpose.
Sportingking India announced tender buyback with record date as 10/2/2023.
BB size: 580,000 shares @ Rs. 950 = Rs. 55 cr 10 Lakhs; is 4.37% of total stock.
CMP: 693, premium is appro 37%.
Promoter holding: 74.15% which is 98,52,048 total stock; out of that 85,66,048 can be tender by promoter. Total is 1.33 cr stocks represent 100%.
15% reserved for Retail Investor (RI).
BB reserve for retail is 580,000 * 15% = 87,000 nos of stocks.
RI can be defined as Rs. 200,000 / 700 (Considering ~ CMP) = 286 stocks
As per latest AR, UP to 5000 stock is hold by 5.1% which comes to 678,217 numbers.
Not able to find details of holding under Rs. 200,000 or 286 stocks holder. Hence just has to assume…
Ass 1: Assume 33% of 6,78,217 is holding below 286 stocks which is 2,26,072.
If so success ratios of 87,000 stock bb from 2,26,072 is ~ 38.5%
As above understanding correct?
Nos are approximate and taken from recent disclosures and AR.
Help: If anyone suggest where I can find recent details of RI.
Disc: Not holding any position as of now. Not sebi registered, just for understanding and feedback purpose to understand more on special situation.
| Subscribe To Our Free Newsletter |
