Monte Carlo Fashions Buyback 2018
(i) Monte Carlo Fashions Ltd was launched in 1984 by Oswal Woolen Mills Ltd, the flagship company of Nahar group. The launch was a significant step in the evolution of branded garment industry in India. Since then, it has been catering to the ever-growing demands of the Clothing and Fashion industry.
(ii) The products offered under brand Monte Carlo, apart from Woolen knitted garments, include T-Shirts, Shirts, Linen Shirts, Denim, Trousers, Dresses, Shorts, Tunics, Sportswear & much more for men, women and tweens (8-14 years age group).
(iii) The brand has gained the ISO 9001: 2000 certifications and has been felicitated by the International Wool Secretariat with the prestigious Best Exhibited Product award.
(iv) It has also emerged as the No. 1 brand in the men’s wear category in a survey conducted in the summer of 2009 by Images-ORG-MARG.
(v) In 2014, Monte Carlo was honoured as one of ASIA’S BEST MARKETING BRANDS by World Consulting & Research Corporation (WCRC).
(vi) The Company’s products reach the end user through different channels i.e. through Exclusive Brand Outlets, Multi Brand Outlets. Currently, Monte Carlo is available through more than 200 Exclusive Brand Outlets & over 1300 Multi Brand Outlets.
Buy Back Offer Deal:
| Buyback Type: | Tender Offer |
| Buyback Record Date: | Feb 22 2019 |
| Buyback Opening Date: | Mar 19 2019 |
| Buyback Closing Date: | Apr 02 2019 |
| Buyback Offer Amount: | ₹ 55 Cr |
| Date of Board Meeting approving the proposal: | Nov 30 2018 |
| Date of Public Announcement: | Nov 30 2018 |
| Buyback Offer Size: | 10.56% |
| Buyback Number of Shares: | 10 Lakhs |
| FV: | 10 |
| Buyback Price: | ₹ 550 Per Equity Share |
Details of Buyback:
Salient financial parameters:
| Particulars(Cr) | Revenue | PAT | OPM | NPM | EPS |
| 2018 | 663.64 | 59.72 | 18.2% | 8.99% | 27.48 |
| 2017 | 602.38 | 44.16 | 15.68% | 7.35% | 20.32 |
| 2016 | 635.44 | 58.94 | 21.7% | 9.27% | 27.12 |
How to Participate in buyback?
Profit from the buyback on the bases of acceptance Ratio:
| Acceptance Ratio | 33% | 50% | 75% | 100% |
| (i) Amount Invested in Buyback | 1,41,090 | 1,41,090 | 1,41,090 | 1,41,090 |
| (ii) No. of Shares buyback | 119.79 | 181.5 | 272.25 | 363 |
| (iii) BuyBack Profit | 19405.98 | 29403 | 44104.5 | 58806 |
| (iv) Profit(%) | 13.75% | 20.84% | 31.26% | 41.68% |
Recommendation:
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Is there any scope to keep this share?…how much chances are there to rise nearby 400?
Promoter participation or not does not impact small shareholder acceptance ratio. Because 15% reservation is of total shares.
Where promoter do not participate, small shareholder do not have advantage then others.
Company looted the innocent share holder. They gave shares@645 in ipo four years ago and now BB it @550 and that too only 11%. This is the condition when promoters have not participated in BB. If they had participated than I think acceptance ratio would be merely 5%
So what about the remaining shares?… What if price drops so badly after buyback?
Hold the shares. Don’t sell at a loss. Wait for the price to go up after announcement of Annual Financial statement and dividend and then sell for a profit. The scenario is the same for all Buy Back offers where there was a huge difference between BB price and the Market price just before Record date for buy back
In the case of Monte Carlo the no. of share holder in the retail category as on 31-12-2018 was only 33801 and on record date it is 41182 – an increase of 7381- these are new buyers for taking advantage of BB and make profit within a short time, also some holder whose value was more Than 2 lakhs sold their shares to come into the reserved category. That is the reason why Eligibility ratio was also low. All those who bought to take advantage of BB also tendered their Shares for BB. Hence overwhelming response leading to low Acceptance ratio.
So there is dividend coming up for Monte Carlo?
11 out of 100 accepted in the Buy Back offer of Monte Carlo.
Very low acceptance ratio. CMP 345, big loss expected. 🙁
Where we can check the accepted ratio
|2| out of |18|MONTE CARLO FASHIONS LIMITED. shares have been accepted in the Buy-Back offer.
Tomorrow is the last date for settlement of BB and payment for accepted quantity etc. Is there any news on acceptance ratio. Unlike Karvy, Link intime does not give any website information regarding acceptance etc. Very poor Registrar and Manager of BuyBack.
After analysing the EOD position as on 1st April, I think the acceptance ratio for reserved category could be between 10-12% only.
If you dont mind can you please tell us where can we find the subscription information?
Subscription info
https://www.bseindia.com/markets/publicIssues/BSEDemandSchedule_otb.aspx?Scripcode=3909
Two more days to go for closing of offer period. The acceptance for Reserved Category may be between 40 and 50 %. Let us wait and see.
subscription in retail category is almost 7-8x then how acceptance will it be 40-50%?
How did you arrive at 7-8x times? You can’t take all individual investors as small holders. I have given the acceptance ratio for small holders (Reserved category).
Where we can get subscription status of Monte Carlo Fashions Buy Back?
Got the information from the link provided by you at the right end for Monte Carlo Fashions. Thank you. This information is for total Individual shares tendered there is no seperate data for reserved category and hence should not be used for comparing with reserved qty.
For IOC dividend march 2019, would I be eligible if I buy it’s shares today?
yes.
why there is no data of subscription ratio today ? buyback started right ?
Total Tendered (individual ) is 1355808. If we consider 20% of this as Small Holders , it will be 271162 against 150000 Reserved quantity.
still after moving after scroll bar to right,i am unable to see.
you can also check ur entitlement on
https://www.linkintime.co.in/Offer/Default.aspx
Is anybody received buyback offer letter…….. I have received but entitled shares are not displaying in that………. entitled portion is cutting in email…………
move the scroll bar to see entitled shares
After seeing entitlement ratio feeling cheated…………. SEBI please help…………….
So what will be the acceptance ratio?
Very poor and hopeless entitlement
When offer size is 10.56% and there is 15% reserve portion for Retailers than how it is 10 out of 153 ie only 6.53% for retailers
Total Buyback —————————————- 10,00,000
Reserved for small shareholders (retail) ——- 1,50,000 (15%)
Total shareholding ————————————- 2,17,32,064
Small shareholders on record date ——————- 41,182
Small shareholders holding on record date ——– 22,93,383
150000 / 2293383 = 6.54% (Entitlement ratio – Retail)
General category shareholding = 2,17,32,064 – 22,93,383 = 1,94,38,681
850000 / 19438681 = 4.372% (Entitlement ratio – General)
In that case as promoter is not participating so approximately 1,40,60,000 shares not eligible,
so hypothetically remaining balance 850000/5378681 = 15.80% (Entitlement ratio – General)
which is more than Entitlement ratio of Retail by 2.41 times !!!!!!!!! AMAZING
IF SEBI CAN STEP IN AND HELP THE RETAIL INVESTOR ……………………………
If buyback offer size is 10.56 % then how come both retail and general ratio is less than that ?
Letter of Offer & Tender Form
http://www.montecarlocorporate.com/pdf/LETTER-OF-OFFER-ALONG-WITH-TENDER-FORMS.pdf
Sure about the dates? I bought on 3rd Dec ..still no email
10 out of 153 for Retail Investors.
8 out of 183 for General Category.
Buy-Back Opens on: Tuesday, March 19, 2019
Buy-Back Closes on: Tuesday, April 2, 2019
Last date of receipt of completed Tender forms and other specified documents by the RTA: Thursday, April 4, 2019
Last date of Settlement of bids on the Stock Exchange*: Wednesday, April 10, 2019
Buy-Back Opens on Tuesday, March 19, 2019
Buy-Back Closes on Tuesday, April 2, 2019
Last date of receipt of completed Tender forms and other specified Thursday, April 4, 2019
documents by the RTA
Last date of Settlement of bids on the Stock Exchange* Wednesday, April 10, 2019
Any report for buyback dates
Sorry! 390 level.
It may be bear trap. Mind it!! Hold tightly and do not sell any share. If BB approved by SEBI it will shoot up to level of 2700 rs .
Buy back approved by sebi?
Is the buyback is not approved?
Why it’s price is dropping so drastically?
AR may be only 10 to 15%. So do not tender unnecessarily more share. Because you could not sell it on time after buyback as there is more chance to come down it’s share price heavily.
Only 10-15%?
What will be AR?
If i buy on 22 Feb, will i eligible for buyback? (technically i will be shareholder, but physically shares not yet credited to my account)
No, who bought on or before 20th Feb eligible for buyback
No , you bought on 22feb but your demate account will be crdited on 26th feb
That’s why you will be treated as share holder on 26 feb
Down 6% at the opening. Today is Ex-date. So all are selling.
I have account with zerodha. If I sell today or tomorrow will I be eligible for buyback
Yes.
But during NMDC Buyback i sold my shares on 17th Jan. The record date for NMDC Buyback was 18th Jan. I didn’t got any mail from NMDC regarding the buyback. I contacted zerodha regarding this, they told that you should not sell your shares till the record date. Even if you would have sold on 18th Jan. you would not have been eligible for buyback. Kindly guide me for this.
But during NMDC Buyback i sold my shares on 17th Jan. The record date for NMDC Buyback was 18th Jan. I didn’t got any mail from NMDC regarding the buyback. I contacted zerodha regarding this, they told that you should not sell your shares till the record date. Even if you would have sold on 18th Jan. you would not have been eligible for buyback. Kindly guide me for this.
Below is the reply given by zerodha to me
Please note, To become eligible shareholders in the buyback offer the shares must be available in your dmat account as on the record date, since you have sold the shares on 17th Jan, it got debited on the next day (T+1 day) i.e.18th Jan which was a record date.
Check your entitlement at
http://www.aarthiconsultants.in/BuyBack/NMDC/
Technically you should be eligible, because if you sell shares on Ex.date ( which mostly all big investors do) , then it should be debited after T+2 days i.e. after Record date. But in Zerodha maybe they are removing your shares from demat account very next day of selling and making you ineligible for buyback which is technically not correct.
In zerodha if you sell shares then they move it to zerodha pool on t+1. The shares from pool get debited on t+2. Hence as of record date shares will be in zerodha pool account which is not a retail account. And zerodha will not apply for buyback for you.
yes, you are eligible
@Market Wizard Please elaborate what is Ex-Date and why is everyone selling on the ex-date? What should a smart investor do?
Ex-Date is one day prior to Record Date. If you sell on Ex-date you will still able to tender your shares in the buyback.
Let us suppose you have 100 Shares in your demat account as on Record Date. Now till record date, nobody knows the exact number of Entitlement or Acceptance ratio. What smart investors do, they sell before the Record date and then wait for the announcement of Entitlement ratio(Minimum number of shares that will be accepted 100%) by the company. Once it is announced, they again buy that much from the market and tender the shares in the buyback.
Acceptance ratio may be around 14% to 17%
But tomorrow will it continue it’s up move or fall? Have any idea? As tomorrow is ex buyback date.
I told price may reach up to near 400rs today.
Expected Acceptance ratio?
Not able to understand why the price is not moving?
This stock is expected to rise at least Rs 400 before ex buyback record date.
No it won’t.
One thing we observe that even after announcement of buyback issue, this stock is not still moving up at all. I think most of the investors want to avoid to take participation in this issue. If that so, should we expect acceptance ratio will be on higher side.
Can i buy at this level only for buyback?
Share holding in retail is less than 20%
As per public announcement:
In terms of the Buy-Back Regulations, under the tender offer route, the Promoter of the Company has an option to participate in the Buy-Back.
However, Promoter and/or the Promoter Group vide letter dated November 28, 2018, have expressed their intention about their non-participation in the Buy-Back.
what is news source of promoter no participating ?
Dear Wizard,
Based on your statement, I have a question. If promoter is not going to participate in Buyback, the Buyback number of shares (10Lakhs) will not change for sure.
Will it be useful for Retailer Quota? any increase in AR for Retailers…?
I hope, there won’t be any benefit to the retailers. It is beneficial to the general category.
Yes there is no benefit to retailers.
I think, it will be beneficial for retail investors.
Mr. Wizard, please confirm whether the promoters are participating in this buyback? Thanks
Will promoters participate in buyback?
If I did not participate in e-voting, can I still participate in buyback?
Yes. You can participate. No issue.
E-Voting has been done. The company has declared the record date as 22.02.2019
https://www.bseindia.com/xml-data/corpfiling/AttachLive/d53ab0fb-5ebc-4766-807f-1d7c844ef662.pdf
The company has announced a Results today( Excellent Results):
1. The Revenue has Increased by 17% YoY.
2. The PAT has increased by 21% YoY
3. The EPS for Qtr Ending Dec 2018 stands at 34.72
E voting केलिए link क्या है
कोई बता सकता है?
e-Voting process is end by end of 07th Feb 2019.
What is the procedure of e-voting?
Kya ab ye bhi larsen jaisa karega?😂
Ya koi ummid baki hai
Maine 400 share 385/- main liye hain
Please suggest what to do?
Wait or exit from monte carlo?
E-voting is in process, that has to complete first, record date next, after that with in (around) 45 days time they should announce the dates for buyback.
Exit or continue is upto you.
Very difficult to suggest. Many buyback tenders end up with losses for retailers.
How to participate in this Buyback??
e-voting will start from 9th Jan 2019 9AM onwords, ends on 7th Feb.
I just e-voted in supporting the buyback.
Monte Carlo issued Notice for postal ballot and electronic voting Feb 07 is last date for e voting.
Any news on Record Date??
Hello Market Wizard,
Where at Zerodha? Not able to find. Kindly suggest, I also use Zerodha.
I am looking, how to participate in IDBI – LIC OFS
Please Check-in Q Zerodha. I have just Confirmed from Zerodha Call Center.
Also please suggest difference in Buy back and Open offer for the share holder or selling person.
In OFS the existing shareholders sells his/her shares to other people generally at discount to the market price. However, in the buyback, the company takes back shares from existing shareholders and Extinguish the shares.
In IDBI Bank OFS, the LIC is basically acquiring stakes and they are buying close to 204 Cr shares at Rs.61.23 from existing shareholders. The LIC is paying in cash close to 12602Cr.
Hello Experts!
Any idea of open offer?
How can I sell in IDBI Open offer (by LIC)??
Zerodha gives the facility on its platform to apply for OFS.
Where at Zerodha? Not able to find. Kindly suggest, I also use Zerodha.
Techno electric board meeting on 13 Dec for buyback
If I buy stocks prior than the record date is even listed out, would I be eligible to participate in buyback?
yes.
Trading FLAT
Surprise to me as well.
and everyone was thinking that it will take a big jump, market never stops to astonish
Also investerzone team has given rating of 5 which is pretty good,as per your opinion one houldn’t wait for buybcak
If entitlement ratio already expected 7%, who will want to burn fingers. Those entering into this will burn finger like MPHASIS.
BHEL BUYBACK OPEN ON 13/12/2018 to 27/12/2018.
Total no.of shares buyback — 10,00,000
Reserved shares for retailers — 1,50,000
Retailers shares holding as on 30 Sep —- 20,38,733
Entitlement ratio (as per 30 Sep) —- 7.36%
** Actual entitlement ratio will be calculated as per holding on record date
GAP UP OPENING EXPECTED ON MONDAY
When you will receive the Actual letter the entitlement could be much less because during 90 or 100 days leading to buyback alot more number of shares are going to change hands.
how did you get this data
retailers holding shares “Retailers shares holding as on 30 Sep —- 20,38,733”
and i think company calculates the retails investors as per their shareholding taking Face price as price and not CMP, while for buyback purposes CMP is considered and therefore the entitlement ratio would be much better.
correct me if i am wrong, i am just a novice trying to learn the trade
As per Annual Report of 2018,
The Number of shares between 0 to 1000 is close to 14 lakh. So if we consider this number as total number of shares under Retail Investors quota on the Record date , the Entitlement Ratio could be 15%.
What I feel is this can be a good trading bet. However, a lot of action on the political front is waiting in coming days so be careful. The Nifty also has a dream run from the levels of 10200 to 10900. Somewhere down the lines, it will cool off. So trade accordingly.
should we invest in this or not
this seems too good to be true
Record of Monte carlo to reward its investor is not good. However, this could be a good trading bet. Take 5-7% gain and exit. Don’t wait for buyback.
what is difference between entitlement ratio and acceptence ratio??
Entitlement ratio gives us the exact number of eligible shareholders for buyback which is there in the company’s book on the Record date. This is announced in the letter of offer.
Acceptance Ratio: This is the final ratio depending upon the no. of shareholders tendered their shares in the buyback. It is announced after completion of the buyback.
Minium Acceptance Ratio = Entitlement ratio
Huh.. Potential Upside of more than 40% from CMP of 388.
Yesterday, RAJASTHAN GLOBAL SECURITIES PVT LTD BUY 1,11,837 at Rs. 373.73 .
Now today buyback price announced at 550.
These funds houses may be knowing in advance the price of the buyback.
ISKE SIMBAL KIS NAME SE H PLEASE REPLY me
ISKA SIMBAL KIS NAM SE H PLEASE REPLY ME
BSE: 538836 | NSE: MONTECARLO
RAJSTHAN GLOBAL SECURITIES KA SIMBAL KYA H
yeah fund house hai sir. Usko mat dekho.
Ha ha