This post is in continuation of my Investor Presentation series (see here)
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Meet Cheng Yu Tung: HK’s third richest man
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Infographic:Why startups fail
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Linkfest:March 14, 2013
Some stuff I am reading today morning:
In Gujarat, farmers grow the red potato (Businessline)
Is it time to give up on Tata Motors? (Firstpost)
HUL’s real estate is the secret behind its healthy state (ET)
Consultants gear up to help PE firms get exits (Mint)
LIC rescues RCF share auction (BS)
The Editor’s delivery vehicle (MediaCrooks)
Awesome career advice from LinkedIn’s billionaire founder (BusinessInsider)
Why time frames matter to you (BigPicture)
10 things I wish I knew before I started trading (BCLund)
Finding yield and value in dividend paying stocks (InstitutionalInvestor)
Apollo is one of the largest alternate asset managers in the world with over 113 Billion $ under management.
In late 2009, they invested around 100 Million $ in Dish TV India.The deal was structured as follows:
- DishTV agreed to issue 117,035,000 new equity shares of Re. 1 each @ Rs.39.8 per share
- These shares were in the form of 117,035 Global Depositary Receipts (“GDRs”), at a price of US$ 854.5 per GDR (with each GDR representing 1,000 equity shares of Re 1.(works out to 1 USD=46.57 INR)
The good folks at Apollo even get a board seat at Dish TV so that they can keep a close eye on their investment.
Today, there is news release that Apollo plans to sell off its stake .
Now the current price of Dish TV (todays close) is Rs.66.25.Assuming the conversion rate to be 54.11, each GDR works out to be around 1224 $. They may be able to get a premium over the prevailing market price as well.
Not a bad $ return for around 3.5 years of work.
Now only if Apollo’s investment in Welspun Corp gave a similar kind of returns !