Basic Question about the process of Merger Can someone throw more light on what happened here?
- Majority(3/4)th in value approved while
- 3/4th in number of shareholders did not approve…
Since retail shareholders would constitute the majority here, it seems we the retail investors did not approve, i wonder why?
I did not vote, and may not be wrong in assuming majority of the public/retail investors would not have voted… neither for nor against the motion of merger… And if its a SEBI mandate, i wonder how do mergers actually go through…
My investment thesis in butterfly was the near 10% arbitrage with CGConsumer, which now is dead! So have to reassess the growth potential specially given the new shareholding pattern.
On one hand CG Consumer on board should definitely be a plus but on the other the old owner promotors being out would that be negative?
Quick glance at ROCE and valuations comparison with TTK Prestige suggests, it is trading not too expensive, but growth has been weak in general for both!
Appreciate any inputs…
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