Orient Garments Future

dewminigamlath · 1 Orient Garments Future Mon Aug 01, 2011 9:05 pm

dewminigamlath

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Today I was informed by LBO SMS alerts that Finco Group has sold 51% stake in Orient Garments to buyers including PC House. However, there is no such news in CSE web site. OGL had dropped by about Rs.12 to close around Rs.21.

If Finco actually sold such a huge portion of OGL, will there be a mandatory offer by a purchaser (As far as I know, anyone who acquires 30% stake in a listed company should make a mandatory offer) in the coming week...?

Also, since the price has hit an all-time low - even below IPO price - isn't it worth buying...?

sajeethk · 2 Re: Orient Garments Future Mon Aug 01, 2011 9:44 pm

sajeethk

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There will be definitely mandatory offer but price will be offer closer to crossing rate. I think it was introduce to the market to find the potential buyer with competitive price.

Fresher · 3 Re: Orient Garments Future Mon Aug 01, 2011 9:50 pm

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actually the price drop was a result of the crossing. you wont find many to sell you at these prices. with the price band it will be hard for this to move up if people don't sell.

also if there is a mandatory offer it wont affect us much since it will be near the crossing price of 20/- unless the investor who had been collecting earlier too had bought it

smallville · 4 Re: Orient Garments Future Mon Aug 01, 2011 10:29 pm

smallville

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On 29th June Dr. Senthil had bought 16.39% of shares @ 28. Then on the same day finco had sold 20% of its holdings.
We've not had any news whether Dr. Senthil sold or still holds his qty..
So if Finco has sold 50% again, they only got 10% left..
So who're the prospective buyers?