Chartered Capital gives open offer for Jupiter Capital’s stake

Chartered Capital & Investment, a merchant banker gives open offer to shareholders of TRC Financial Services for acquisition of 1300234 equity shares of Rs 10 each.

Jan 16, 2017 11:01 IST India Infoline News Service

Bull and bear
Chartered Capital & Investment, a merchant banker gives open offer to shareholders of TRC Financial Services for acquisition of 1300234 equity shares of Rs 10 each. The acquisition will be of TRC Financial Services by Jupiter Capital Private Limited.

The offer includes offer size of up to 13000234 that represents 26% of the total equity share capital of the target company. Offer price includes Rs 18 each for face value of Rs 10 each.

The offer price will be paid in cash. The proposed shareholding after the acquisition of shares which triggered the open offer is 2896174 equity shares i.e. 57.91% holding.

The offer will be published on or before January 23, 2017. Jupiter Capital is a strategic investment firm of Rajya Sabha MP Rajeev Chandrashekhar while TRC Financial Services is a BSE listed NBFC.

Stock view:

Chartered Capital & Investment Ltd ended at Rs 42.45, down by Rs 2.2 or 4.93% from its previous closing of Rs 44.65 on the BSE.

The scrip opened at Rs 42.45 and touched a high and low of Rs 42.45 and Rs 42.45 respectively. A total of 50(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 12.78 crore.

The BSE group 'XD' stock of face value Rs 10 touched a 52 week high of Rs 55.2 on 01-Sep-2016 and a 52 week low of Rs 37.1 on 15-Feb-2016. Last one week high and low of the scrip stood at Rs 0 and Rs 0 respectively.

The promoters holding in the company stood at 71.34 % while Institutions and Non-Institutions held 0 % and 28.66 % respectively.

The stock traded above its 200 DMA.

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