Exchange Filings

Allsec Technologies: Who Bought?

Source: Exchange Filings of Allsec Technologies Ltd

BSE notices sharp movement in the share price around 18-22 March,2019
The Company clarifies on 25 March, 2019
2 Weeks later, Quess acquires the Company
Open Offer at 320 Rs/share

2 replies on “Allsec Technologies: Who Bought?”

Wow. great investigation into market malpractices. Moving in the path of Sucheta Dalal, MoneyLife. In this instant case, SEBI/Stock Exchanges should file criminal complaint for outright lying. If investigated, the whole process of take over, which normally takes over months, will be exposed. Will the regulator investigate?
Same thing has happened in many, many other companies in the past, through, Buy-back, De-listing, Merging, De-merging etc.
Patni Computers turning into I-gate is one such case, where even the books were fudged for a couple of years to bring the market price down, declared a special dividend to entice retail investors (to whom, the promoters must have sold their shares at high prices) and then called for buy back at those lower prices post poor results. By delisting, they have broken the wings of minority shareholders and now are offering to buy those fraction shares retained by some.
The point is, No one investigated. SEBI is either toothless or its officers were paid well in the process. Only independent investigation can reveal. But in our country, when the authorities with power are corrupt and judiciary is literally unreachable to common investors, who will rescue the small investors?

Leave a Reply

Your email address will not be published. Required fields are marked *