External broker reports(aggregated public sources), HDFC Securities

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Aditya Birla Fashion and Retail Ltd / Equity Bottom-Up

Aditya Birla Fashion and Retail Ltd (ABFRL IN)

<ul><li>ABFRL announced the acquisition of TCNS Clothing (TCNS) and will acquire a 51% stake in TCNS in a two-part transaction: (1) it will acquire 22-30.81% from TCNS’ promoters and 20.19-29% in a conditional open offer for ~INR16.5bn (at INR503/sh) (2) this will be followed by a merger between the two entities via a share swap arrangement (share exchange ratio: 11:6)</li><li>Total deal value is pegged at ~INR29bn (including the share swap)</li><li>ABFRL's share dilution post-acquisition is ~5.7%</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

ABFRL announced the acquisition of TCNS Clothing (TCNS) and will acquire a 51% stake in TCNS in a two-part transaction: (1) it will acquire 22-30.81% from TCNS’ promoters and 20.19-29% in a conditional open offer for ~INR16.5bn (at INR503/sh) (2) this will be followed by a merger between the two entities via a share swap arrangement (share exchange ratio: 11:6)Total deal value is pegged at ~INR29bn (including the share swap)ABFRL's share dilution post-acquisition is ~5.7%Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Aditya Birla Fashion and Retail: ABFRL’s TCNS Acquisition—playing with Fire.