Remember my message regarding the change of conversion terms of unilazer, they have wriggled out by paying just 10%, goes to show their reluctance in view of utv`s poor show, any comments ?
The warrants were convertible at rs.860.00 a share... 10 percent advance was paid, which has been forfeited and warrants have lapsed, with unilazer saying, that they give up the rights to the warrants.
With cmp at 450 and warrants convertible at rs.860, it comes as no surprise that warrants were allowed to lapse without buying into them.
An ideal situation would have been if promoter had bought the warrants at 860, even while current share price is 450.. but this is less than an ideal world..and other than probabaly the TATAs, i dont think any promoter would have bought them..
Anyway, the warrants story is now over, but now UTV is doing a 750 crore placement and now it remains to be seen, what they do regarding this, as i think this is the last stumbling block,we as shareholders will have to pass... needless to say, once this placement is done, our stake in company will half, as equity is going to be diluted, but on the other hand, companywill be worth much more than it is now.. i am looking forward to seeing as to what will happen, as i have no ideas regarding this at this stage.
In 450 + 86 forfeited they can get the shares at 536 then do you expect them to pay 860 is not sensible but perfrectly logical. You & me too would have done the same.
In view of the placement of 750 crores there is a offhand chance that the mkt price may be jacked up to around 550 or 575 depending on the market conditions, it would be wise to get off at 575 and get in on a correction for the long haul.
UTV software has a very very low floating stock and hence , while i am tempted at different times to sell at a high and buy back at a lower price, i refrain from doin so, because i dont know when it will happen, but provided utv software remains fundamentally strong, i will end up selling high.. and then will not get an easy opportunity to buy it back.. one has to be careful in holding stocks which have a low free float.. thats all...
Sorry I do not agree, as pointed out by Samir floating stock of UTV is very low and if Unilazer buys that quantity ie 45lac+ shares from the mkt it will take the share price to a new high which I dont think they wud be interested to acquire as the price wud be much more than 860 for which they cud have converted their warrants in the first place.
It is only bcos utv funda`s presently do not warrant acquisition of shares at such a steep price ie860 that the warrants were allowed to lapse, and it is this logic which prompts me to sell high and buy low at every opportunity.
| NIFTY 
