Company Has Entered into share swap agreement where the shares of subsidiary are swaped for 8% stake
Subsidiary is value at 56 Crores.
The Transaction seems fairly valued considering the whole business of Honeywell is Under the Subsidiary’s Name (I can be wrong)
FY-22 Hong Kong business did the PAT of almost 7 Crores (Couldn’t find data about 2023)
the implied multiple is mere 7-8x
The Subsidiary itself could be worth 25-30x Minimum
Seems Minority interest is taken care of in this transaction
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