Tuesday, June 16, 2009

IL&FS Investmart - Bingo :-)

I had earlier posted here on a special situation transaction covering IL&FS Investsmart and Dabur Pharma. I had just few days back put in a update on the status of this special situation transaction.

IL&FS Investsmart today came out with a announcement that its promoters HSBC are seeking to go in for a delisting :-) Whoopie. The link is enclosed here.

Atleast one leg of the transaction paid off and will hopefully deliver some good bottomline. Lets see how the market reacts to the news tomorrow. I expect the delisting to happen anywhere in the Rs 200 to Rs 250 band. The original price of the transaction was around Rs 84. Will come back with more updates on this as and when the transaction moves forward.


Anonymous said...

Hi Ninad, it was a nice call. Several months back I read about this arbitrage in your blog. But that time I missed the opportunity! Anyway I visit your blog regularly for such special situation cases.

Warm Regards

Ninad Kunder said...

Hi Gcpradhan

Well this one played out :-). Thanks for visiting the blog