Categories
Exchange Filings

EMIL: Minority Headache

Electronics Mart India Ltd held a postal ballot seeking permission of shareholders to approve the variation in the objects of the IPO of the co.

Around 224 shareholders voted. 26 shareholders voted against the resolution.

Since # of shareholders who voted against the resolution were more than 10% of the total shareholders who voted, the company has to comulsorily make an exit offer to these dissenting shareholders.

The interesting thing is that the total no of shares held by these shareholders is only 2,483 shares…approx only 2L Rs !

Categories
Links

Linkfest: 05 May, 2023

Some stuff I am reading today morning:

ECB raises rates by 25 bps (BS)

Tata Play files India’s first confidential IPO (Fortune)

Challenges for Jio Financial (BT)

The mysterious Indian giant of oil shipping (Money Life)

Auto giants set their sights on India’s EV market (CNBC)

EV Ride Hailing startup Blu Smart now valued at $250 Million (MC)

ACKO & Lohum tieup for insurance of EV batteries (Saur Energy)

Startup: Skoodle (Forbes)

Second Axiom of investing (Anand Sridharan)

The Unified Content Business Model (Stratechery)

Categories
Links

Linkfest: 04 May, 2023

Some stuff I am reading today morning:

Fed hikes by 25 bps ( FED )

On US debt crisis (Stanley Druckenmiller)

Ajay Banga appointed next World Bank President ( MC )

ED raids Mannapuram Finance (Money Life)

Adani stocks under selling pressure (BT)

Minda Corp wants to increase stake in Pricol (FE)

On India’s rural economy (Forbes)

How bad will US Commercial Real Estate get? (Climateer)

Forget Crypto, Buy Gold (Daily Reckoning)

What happened when a company adopted AI (NPR)

Categories
Chart

Amazon is # 3

Categories
Annual Reports

GM Breweries: Repeat Karo

Amusing to see that the entire Management Discussion & Analysis Report has been copy pasted from Annual Report FY2022 to Annual Report FY2023

Source: Annual Report FY 2022 of G.M. Breweries Ltd

Source: Annual Report FY2023 of GM Breweries Ltd

The copy paste is so ridiculous that even the plant utilization capacity is the same in both annual reports :

The company has capacity to process 13.76 crore bulk litres of country
liquor per annum out of which only about 37.5% has
been utilized last year

GM folks-Nakal Karo Lekin Akal Se !