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shadows
Senior Member
Joined: 04/Feb/2009
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Posts: 221
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   Posted: 28/Jul/2011 at 11:16am |
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may be he is referring next year april
http://www.thehindubusinessline.com/todays-paper/tp-corporate/article2300226.ece
is there any problem with
Yash Birla Group... companies
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KetanAdmirer
Senior Member
Joined: 01/Sep/2007
Location: India
Online Status: Offline
Posts: 242
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Posted: 28/Jul/2011 at 11:35am |
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- The Board of Directors of Orient Paper & Industries Limited (OPIL) in its meeting today, approved a proposal to demerge the cement business of OPIL into Orient
Cement Limited by way of a classical demerger with mirror shareholding
– The demerger is subject to approval of Hon’ble High Court of Orissa, shareholders and creditors of OPIL, SEBI and stock exchanges
- Orient Cement Limited will constitute the cement business of OPIL
- OPIL will continue to carry on the non cement business (paper and electricals and other investments)
- The shareholders of OPIL will get 1 (one) new equity share of Orient Cement for each equity share that they hold in OPIL, in addition to their existing OPIL shares
- Orient Cement Limited is proposed to be listed on BSE and NSE, being exchanges where OPIL is currently listed
- The Appointed Date for the Scheme is April 1, 2012
- The demerger will be compliant with section 2(19AA) of the Income Tax Act, 1961
- The scheme is conditional to approval of shareholders and creditors as required by law and the requisite order of the Hon’ble High Court
– The Scheme is subject to jurisdiction of High Court of Orissa
- The Scheme is also subject to approvals by stock exchanges and SEBI
Edited by KetanAdmirer - 28/Jul/2011 at 11:36am
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Cheers
Anand
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KetanAdmirer
Senior Member
Joined: 01/Sep/2007
Location: India
Online Status: Offline
Posts: 242
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Posted: 28/Jul/2011 at 11:39am |
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Outline of Demerger Process:
- The Board of Directors decided to proceed with the “Classical Demerger of the Cement Business with Mirror Shareholding”, taking on record the valuers’ report,
fairness opinion and draft of the scheme of arrangement and recommend the share entitlement ratio
- Draft scheme will be filed with stock exchanges for in‐principle approval, once stock exchanges give their in‐principle approval for the scheme, it will be filed with
the Hon’ble Orissa High Court for convening meetings of the shareholders as well as the creditors of OPIL and Orient Cement
- After approval at the respective shareholders’ and creditor meetings and on receipt of reports from regional directors of the respective ROCs, the High Court
will proceed to the final hearing and approval
- After final hearing and sanction of scheme, the scheme will be filed with the Registrar of Companies
- Stock exchanges and SEBI are then approached for final listing approval and relaxation from requirements of clause 19(2)(b) of SCRA for listing of Orient Cement without public offer
- Stock exchanges to fix record date for issuance of fresh Orient Cement shares
- Orient Cement to start trading on both NSE and BSE
- The entire exercise is expected to be completed by April/May 2012
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Cheers
Anand
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rinkumalpani
Senior Member
Joined: 28/Jun/2010
Online Status: Offline
Posts: 369
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Posted: 30/Jul/2011 at 5:30pm |
Originally posted by KetanAdmirer
Future Plans:
Increase capacity for Fans: Introduce new premium fan varieties and higher wattage CFLs and LED lamps
aimed at wider market penetration
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Diversification into small electrical appliances; to be launched in phases in the current fiscal year
Company to launch the below products in this financial year:
Mixer Grinder
Juicer Mixer Grinder / Food Processor
Electric Iron
Room Heaters
PTC Heaters
Air Coolers
Water Heaters
These products will be launched in phases between now and end of this financial year, with full benefit flowing from them during the next financial year. |
Reminds me of the initial days of all those infra companies divesting into power generation and those numerous power IPOS.seems like there will be a time when every other company would like to get their name asociated to this consumer durable sector. (atleast on the paper.)..warning bell 1 ..is it??
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KetanAdmirer
Senior Member
Joined: 01/Sep/2007
Location: India
Online Status: Offline
Posts: 242
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Posted: 09/Aug/2011 at 8:02pm |
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The stock hasn't fallen at all in all the carnage that wass happening in the past few days... Very interesting...
Edited by KetanAdmirer - 09/Aug/2011 at 8:02pm
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Cheers
Anand
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NeerajMarathe
Groupie
Joined: 25/Mar/2009
Location: India
Online Status: Offline
Posts: 86
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Posted: 09/Aug/2011 at 12:53pm |
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Anand,
Any thoughts on the ratio? 1:1
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Regards
Neeraj Marathe
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KetanAdmirer
Senior Member
Joined: 01/Sep/2007
Location: India
Online Status: Offline
Posts: 242
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Posted: 09/Aug/2011 at 10:07am |
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Sirji,
I don't see any problem with that, but only problem is Paper Business... Both, Cement and Electrical Appliances make good profits...
Paper Business makes big loss... I think the promoters might sell Paper Business and focus on Electrical Appliances once the company is demerged...
The Cement business is highly profitable, so it can even command a premium in the markets when it lists separately...
The electrical appliances is also doing very well, but it will have the effect of Paper Business...
Note: I don't have any vested interest in this stock, but planning to buy on dips... Please do your own due diligence before buying / selling this stock...
Edited by KetanAdmirer - 09/Aug/2011 at 10:10am
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Cheers
Anand
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KetanAdmirer
Senior Member
Joined: 01/Sep/2007
Location: India
Online Status: Offline
Posts: 242
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Posted: 27/Aug/2011 at 1:22pm |
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Stock is rock solid in this market... Haven't fallen at all...
Note: No vested interest in this stock...
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Cheers
Anand
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