Portfolio of Lotus Global Investments

This post is in continuation of my coat tailing series (see here)

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Lotus Global Investments is a Mauritius based FII which invests in the midcap and smallcap space

It’s significant holdings in India as on 31 March,2016 as per Stock Exchanges is given below:

Company Name Symbol Entity Name Date End # of Shares % Value (In Crores)
Alembic Limited ALEMBICLTD Lotus Global Investments Ltd 201603 11978103 4.49 42.7
Aurum Soft Systems Ltd 530885 Lotus Global Investments Ltd 201603 1098747 1.69 0.11
Automotive Stampings and Assemblies Limited ASAL LOTUS GLOBAL INVESTMENTS LTD. 201603 466277 2.94 1.78
DCW Limited DCW LOTUS GLOBAL INVESTMENTS LTD 201603 4558898 2.08 13.15
Dhanlaxmi Bank Limited DHANBANK LOTUS GLOBAL INVESTMENTS LTD 201603 2455034 1.38 4.41
India Steel Works Ltd 513361 Lotus Global Investments Ltd 201603 5934300 1.49 1.59
JSW Steel Limited JSWSTEEL LOTUS GLOBAL INVESTMENTS LTD 201603 4164965 1.72 571.41
Parabolic Drugs Limited PARABDRUGS LOTUS GLOBAL INVESTMENTS LIMITED 201603 999159 1.61 0.43
Ruchi Infrastructure Ltd RUCHINFRA Lotus Global Investments Ltd 201603 5749434 2.8 3.39
Sterling Biotech Limited STERLINBIO Lotus Global Investments Ltd-Adr/Gdr 201603 13948302 5.8 4.53
Ushdev International Ltd 511736 Lotus Global Investments Ltd 201603 941412 2.78 2.44
Weizmann Fincorp Ltd 511074 Lotus Global Investments Ltd 201603 8800 3.59 0.21

BSE all set for an IPO

Asia’s oldest stock exchange BSE Ltd will sell up to a 30% stake before 31 March 2017 through a so-called offer for sale (OFS) with a possible fresh sale of equity tagged on, the exchange informed its shareholders on 28 May.

The exchange could raise around Rs.1,300 crore from the sale.

BSE will hold an annual general meeting (AGM) on 24 June to seek shareholder approval for the listing, which would make it the first listed stock exchange in the country.

“A combination of an offer for sale (OFS) and fresh issue, for up to a maximum of 30% of the post-issue issued equity share capital of the company, subject to regulatory requirements”, would be considered at the AGM, said the notice. A copy of the shareholder notice has been put up on the exchange’s website.

Seeking shareholder approval takes BSE a step closer to a listing. On 14 March, BSE received in-principle approval for its share sale from the Securities and Exchange Board of India (Sebi).

BSE first approached Sebi with a listing plan in January 2013. However, the IPO proposal could not be cleared due to lack of clarity on Stock Exchanges and Clearing Corporations (SECC) norms.

Based on industry feedback, Sebi issued a notification on amendments to the SECC Regulations 2012 on 1 January. The amendments were aimed at making it easier for exchanges to list.

This allowed BSE to dust off its IPO plans.

According to a person familiar with the plans, the exchange will sell anywhere between 15% and 30% stake through the OFS.

“This is to give flexibility to the exchange. The aim is to offload a minimum of 10% and if more shareholders are interested in selling their stake, then it can go up to a maximum of 30%. The exchange and shareholders are seeking at least Rs.400 per share,” added this person, who asked not to be identified because the exchange is still firming up its plans.

If not too many shareholders are interested in selling, BSE will issue fresh equity to touch the 30% mark.

A second person familiar with the development confirmed that the exchange is seeking a valuation of Rs.400 per share-from Mint

Linkfest: May 31,2016

Some stuff I am reading today morning:

The curious case of Ricoh India’s balance sheet (Mint)

India’s tax on foreign funds is a muddle (Bloomberg)

McDonalds Vs Dominoes in India (BL)

Stock Watch: Apcotex (RJ)

Proof stock prices mirror earnings growth (Money Control)

RBI’s Luddite Licensing (BS)

How to save tax on salary income (Basu Nivesh)

Mis-selling by a bank (Subramoney)

The stock market is not getting wilder (VRO)

How Modi is repealing dead laws (MoneyLife)