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I want to be a part of the Hotel business of LOLC Group, which include, Eden, Palm, Riverina, Dikwella, Tropical Garden etc.. close to 1000 hotel rooms. I want to switch my investment from PALM to BIL. BIL after the restructuring now seems to owns all the Hotels of the LOLC group. Apart from LOLC purchased hotels, BIL is also the controlling shareholder of Green Paradise Resort Pvt ltd, Samudra Beach Resorts Pvt Ltd and Sun & Fun Resorts Pvt Ltd
BIL purchased 100% LOLC Liesure with all the above hotel at a price of Rs 2.4bn (2.8bn Less 0.435bn Buy Back revenue)
@ Rs 2.40 it seems attractive to me.
Please find below the BIL Balance sheet before the acquisition of 100% of LOLC Leisure (Buy Back and Purchase). Accordingly NAV of BIL seems to be around Rs 5/57. With the amalgamation of LOLC Leisure the NAV likely to be around Rs 8/=. Share is trading at a discount of more than 50% to Book Value. I wonder why investors ate trying to by Finance Companies at 1.5 X BV when this type of investments are available in the market.
BIL purchased 100% LOLC Liesure with all the above hotel at a price of Rs 2.4bn (2.8bn Less 0.435bn Buy Back revenue)
@ Rs 2.40 it seems attractive to me.
Please find below the BIL Balance sheet before the acquisition of 100% of LOLC Leisure (Buy Back and Purchase). Accordingly NAV of BIL seems to be around Rs 5/57. With the amalgamation of LOLC Leisure the NAV likely to be around Rs 8/=. Share is trading at a discount of more than 50% to Book Value. I wonder why investors ate trying to by Finance Companies at 1.5 X BV when this type of investments are available in the market.
