Skip to main content

Ranbaxy open offer

Ranbaxy Laboratories open offer by Daiichi Sankyo to acquire 9,25,19,126 fully paid up equity shares of Rs.5 each at Rs.737 per share has opened on 16th August 08 and would remain open till 4th September 08.
Shareholders of RLL whose names appear as beneficiaries on the records of the respective depositories as well as on the Register of Member at the close of business hours on 27th June 08, being the specified date, would receive the Letter of Offer.

Refer Para 11.11 of the Letter of Offer.
Hence, it is very easy and simple to tender your shares under open offer and there is no need to panic, as still there is ample time of about 15 days left.

The present outstanding shares of RLL are 37,32,37,870 shares while open offer is for 9,25,19,126 shares, which implies offer for 24.79% of present equity. Though the mandatory open offer is for 20% equity of RLL, which is calculated after including outstanding ESOP of 83,88,353 shares, preferential allotment to Daiichi of 4,62,58,063 shares and 3,47,11,343 shares underlying possible conversion of zero coupon foreign currency convertible bonds.

Of the present equity of 37.32 crore shares, Daiichi is acquiring 12.99 crore shares, from promoters of RLL, being 34.81% of the present equity. This means, 9.25 crores shares would get acquired out of remaining 24.33 crore shares, which would result in an acceptance ratio of 38%. As some of the shareholders may not be able to participate in the offer, the acceptance ratio for all practical purposes can estimated to be 40%.

Share is now ruling at Rs.500. If somebody buys 100 shares today, it would cost him Rs.50,000. If 40 shares are expected to get accepted at Rs.737, it would realize Rs.29,480, leaving residual cost of 60 shares at Rs.20,520 or Rs.342 per share.

From now, Ranbaxy can run up a bit till the open offer closes.Share of RLL, post open offer, is likely to rule at around Rs.380/400 per share. For September F&O, the share is ruling at Rs.370 per share.

Comments

Popular Posts

Your Bill Amounts Are Going To Increase From June 1, 2016

Service tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers. It is categorized under Indirect Tax and came into existence under the Finance Act, 1994. Union Finance Minister, Arun Jaitley, in his budget announcements proposed to impose a cess, called the Krishi Kalyan Cess, @ 0.5% on all taxable services. The present rate of service tax will be hiked to 15 per cent from June 1, 2016, from 14.5 per cent. Take a look at what gets expensive:



Phone Bills: Your phone bills are going to go up. So, pay a good 15 per cent now on service tax on phone bills.

Restaurant Bills :If you are dining in a restaurant that already has service tax applicable, you are going to pay more on your eating out. Though 0.5 per cent on a single bill may not mean much, frequent diners may end-up paying a lot during the year.

Travelling: You will have to pay more for air travel, as there is a service tax on tour operators and travel agents.

Moneycontrol Terminal - Streaming Live Quotes

Moneycontrol has introduced a new feature Moneycontrol Terminal - an enhanced version of real time price updates. Though there were live quotes provided by the website previously, the present form  gives a better update of live quotes of indices and stocks.

This terminal provides live streaming quotes for both NSE and BSE free. It also provides quotes for most of the indices and also the constituents/stocks of the indices in BSE and NSE.  The terminal also provides live news and other market news, which might be useful for traders. The hardware recommended is minimum of 1 GB RAM.

It would be better if stock of any choice could be added ( market watch of a set of stocks ), which would be easier to track one's trading positions. Anyway, this is a better alternative for people who don't have access to any trading software, to view live action of the markets.




You could just try the same here at Moneycontrol Terminal


NSE Level 3 Data

Before we get into details of NSE Level 3 Data, it is important to first understand the basic operations of the stock market.  All publicly traded equities have a bid price and an ask price when they are bought and sold. The bid is the highest price a trader( or an investor) is willing to purchase a stock. The ask is the lowest price in which he is willing to sell a stock.


Depth of the Market(DOM):Looking at a Level 1, Level 2 or Level 3 quotes can give a trader, a basic idea of how a stock is performing at any given time.

Level 1 Market Data provides the basic market data which includes Bid price, Bid size, Ask price and Ask size.

Level 2 Market Data provides more information than Level I data. Mainly, it doesn't just show the highest bid and offer, but also shows bids and offers at other prices. Now level 2 provides market depth data upto 5 best bid and ask prices.

Level 3 Market Data provides market depth data upto 20 best bid and ask prices .  This primarily used by brokers and ma…