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Saturday, May 22, 2010

UPDATE : GRASIM IND SAMRUDDHI DEMERGER

Details as on 21-May-2010
Share price- Rs.2,452.95;
Market Cap- Rs.22,370.79 cr;
52 Week- H- Rs.2,988.00; L- Rs.2,005.55;
P/E- 10.24; EPS- Rs.238.26;
Book value – Rs.1,033.36; Industry P/E - 19.26
Dividend – Rs.30; Fv- Rs.10;
Total Share Issued- 9,16,83,571 shares;
Promoter’s holding- 2,33,81,176 shares; Promoter’s holding in %- 25.50%;

As known to everyone earlier in my previous post Grasim has 65% stake while Grasim's shareholders will have 35% direct stake in Samruddhi Cement. So Grasims share price should adjust for 35% of Samruddhi's business.
On MAY 26 2010 (ex- date) by Ultra Tech Cement closing price (May 25,2010) the merger ratio of 4:7 ie 4 Ultra Tech Cement for 7 Samruddhi Cements. based on 26th May 2010 wednesday's closing price Grasim's share price should adjust by Rs.543 (Ultra Tech share price Rs 950x 4/7).
Samruddhi is expected to be listed by June,2010 & be finally merged with Ultra Tech by July,2010 (merger effective July 01,2010). Samruddhi Cements has 26 crore shares with a Face value of Rs.5.00 , Book value of Rs. 250 , Grasim will transfer Rs.2100 crore debts to Samruddhi Cements

My previous post on this topic on GRASIM SAMRUDDHI DEMERGER MARCH 14,2010

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