Don’t expect the gap to go below 10% for long. There isn’t much arbitrage left IMO. This is because after the merger, credit of shares of Inox Wind to IWEL holders and their subsequent listing will take at least a month. During this period, you won’t be able to sell your shares even if there is a market fall. This lack of liquidity will be compensated by a slight arbitrage in IWEL shares on the merger date. Same happened in previous mergers like Equitas.
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