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+3
nihal123
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    BFN - Orient Finance

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    BFN - Orient Finance Empty BFN - Orient Finance

    Post by The Invisible Wed Dec 05, 2018 2:04 pm

    Another speculative play is on.

    What may be the positives for price appreciation.

    Trading @ 16.90 now.

    Sell off by JINS?

    Or increasing the controlling stake by JINS?
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    BFN - Orient Finance Empty Re: BFN - Orient Finance

    Post by PANTOMATH Fri Dec 07, 2018 5:45 pm

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    BFN - Orient Finance Empty Re: BFN - Orient Finance

    Post by nihal123 Fri Dec 07, 2018 6:05 pm

    Thanks PANTO
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    BFN - Orient Finance Empty Re: BFN - Orient Finance

    Post by PANTOMATH Wed Dec 12, 2018 9:34 am

    Another dirty play,Time to time same rumor spread and price pushed up to dump on poor traders.
    I see there are "BFN experts" in cyberspace.They put a chart and say target, if it fail put another chart and say another target.Once BFN down they vanish.Only come up to talk about BFN.I'm sure they have big quantities under their belt and stuck in big time,they are searching for pigs to bite the bullet.

    BFN is not a good share to hold in fundamental aspect.If Janashakthi go for a deal in real world this can have price appreciation.I do not rule out the possibility,but don't get in to traps to lose your hard earned money.
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    BFN - Orient Finance Empty Re: BFN - Orient Finance

    Post by PANTOMATH Mon Dec 24, 2018 8:53 pm

    Here we go,
    [You must be registered and logged in to see this link.]

    See the play,I said about
    Still desperate BFN experts trying to push it up by putting targets.Beware guys!
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    BFN - Orient Finance Empty Re: BFN - Orient Finance

    Post by PANTOMATH Tue Dec 25, 2018 11:24 am

    Let's do the math for BFN,

    [You must be registered and logged in to see this link.]

    BFN has issued 1 preference share for existing 37 shares as at 20th January 2017 with 14% annual dividend for 5 years.

    For easiness of calculation I'll take 3700 shares held at 20th January 2017

    Closing price of 20th jan 2017                =12.9
    Number of shares held                           =3700
    Cost                                                     =3700*12.9       =47730
    Number of P shares @ 1:37                    =100
    Price for P share                                    =100
    Cost for preference shares                      =100*100          =10000
    New shares to be issued @6N:1P            =600
    Cost for new N shares                            =600*19.59        =11754
    Total cost for 3700N+100P+600N           =47730+10000+11754
                                                               =69484
    No: of N shares held after conversion       =3700+600
                                                               =4300

    As promised by the company P shares are eligible for 14% annual dividened,which was not given,as a compensation they will receive additional N shares  

    Additional N For 100P                     =(3906978*100) / 4000496
                                                       =97.66
    Total N shares after all                    =4300+97.66
                                                       =4397.66
    Total cost                                       =69484
    Cost for a N share                           =15.80

    After all these things cost of N shares for the people who held BFN since 20th January 2017 is 15.80, which is close to market price.Existing N holders won't get anything other than getting their voting power diluted.
    IMO there is no reason for BFN to have a big run for this announcement.

    P shares have preference over N shares,Conversion of P shares to N shares will take the higher right of P holders and it will dilute with existing N shares.In longterm i see this is a good move for the company as they get fresh capital with diluting and equalizing ownership.

    For a sell off to a third party presence of P might be a hindrance,Conversion to N may make it easier.This step might be the first step of selling JANA's stake to a third party in a future date.This is just a my assumption.Will keep an eye on BFN to see what's happening.
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    BFN - Orient Finance Empty Re: BFN - Orient Finance

    Post by yellow knife Wed Dec 26, 2018 7:28 am

    Hats Off Pantomath....

    Now I can retire happily from the forum ( no , I am not doing it ATM) as your contribution to the forum is very much better than mine.

    I was not so bold in exposing the hidden games.

    Thanks Pantomath

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    BFN - Orient Finance Empty Re: BFN - Orient Finance

    Post by serene Wed Dec 26, 2018 7:35 am

    Yap Superb Panto.
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    BFN - Orient Finance Empty Re: BFN - Orient Finance

    Post by Illusion Wed Dec 26, 2018 11:49 am

    Superb Pantomath. Plus from me.

    Just need a clarification of your calculation for the education purpose. Preference share holders need to pay Rs. 19.59 to convert their share to N or it is just indicative price of the share?
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    BFN - Orient Finance Empty Re: BFN - Orient Finance

    Post by Ethical Trader Wed Dec 26, 2018 5:02 pm

    Superb analysis Panto. + from me.
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    BFN - Orient Finance Empty Re: BFN - Orient Finance

    Post by PANTOMATH Wed Dec 26, 2018 6:33 pm

    Thank you all

    Illusion wrote:Superb Pantomath. Plus from me.

    Just need a clarification of your calculation for the education purpose. Preference share holders need to pay Rs. 19.59 to convert their share to N or it is just indicative price of the share?

    Good question Illusion,Initially I also thought about it,But this phrase give the answer,

    [You must be registered and logged in to see this link.]

    Stated capital before the conversion is 1378Mn
    Total N + Total P =1378Mn
    If P is replaced by N without capital infusion stated capital should remain unchanged,

    Later part of the paragraph say after the Private Placement stated capital go up to 1925Mn

    Therefore conversion of P needs to add new capital to existing stated capital.
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    BFN - Orient Finance Empty Re: BFN - Orient Finance

    Post by serene Wed Dec 26, 2018 6:53 pm

    PANTOMATH wrote:Thank you all

    Illusion wrote:Superb Pantomath. Plus from me.

    Just need a clarification of your calculation for the education purpose. Preference share holders need to pay Rs. 19.59 to convert their share to N or it is just indicative price of the share?

    Good question Illusion,Initially I also thought about it,But this phrase give the answer,

    [You must be registered and logged in to see this link.]

    Stated capital before the conversion is 1378Mn
    Total N + Total P =1378Mn
    If P is replaced by N without capital infusion stated capital should remain unchanged,

    Later part of the paragraph say after the Private Placement stated capital go up to 1925Mn

    Therefore conversion of P needs to add new capital to existing stated capital.
    Same here.Only after the Pantas thread I scrutinised and found the changes in equity.
    But still like know from expert what happens when Preference shares converted to Normal shares in accounting terms..I mean the Changes to Balance sheet in relation to Assets/ Equity /Liability.

      Current date/time is Sun Jun 16, 2024 1:10 am