Further details about Gemstar and the agreement between Genus and GIC is available in today’s filing. There is also a Analyst Conference Call scheduled on July 6th.
- Genus is investing USD 260,000 for a 26% stake in Gemstar
- Chiswick will be paying 25% upfront (approx. Rs. 130 Cr) and the balance 75% (approx. Rs. 390 Cr) will be payable on exercise of warrant which is 18m from allotment. This will give then 15% stake in Genus.
- The media release yesterday says that the initial capital outlay for Gemstar is USD 2,000,000,000. Genus would have to contribute USD 500,000,000.
- Genus already has a 9-y loan of USD 49,500,000 at 9% (including hedging) from United States International Development Finance Corporation.
In the Feb 2023 investor call, there was a question about the IRR expectation from AMISP deals. Unfortunately, the management replied that the projections are business confidential.
We should wait for the investor call to get further details
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