Buy Piramal Healthcare: Parag Parikh Financial Services

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Buy Piramal Healthcare: Parag Parikh Financial Services

Parag Parikh Financial Advisory Services has recommended shareholders to tender in all their shares in the buyback and advised buying more Piramal Healthcare shares with the buyback proceeds in its December 09, 2010 research report.

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Parag Parikh Financial Advisory Services has recommended shareholders to tender in all their shares in the buyback and advised buying more Piramal Healthcare shares with the buyback proceeds in its December 09, 2010 research report.

"The Facts: Total Outstanding shares before buyback - 20.9 crore. Maximum shares to be bought back - 4.18 crore. Total Outstanding shares if buyback is successful - 16.72 crore.

The buyback offer comes with an interesting opportunity. The record date for the buyback offer is Jan 08th 2011. The Buyback opens on Jan 17th 2011, and closes on Feb 7th 2011.

As per point number 22.9 of the tender offer document, shareholders can tender their entire holding for buyback. Since only a limited amount of shares are to be bought back (20% of 20.9 crore = 4.18 crore in this case), if the number of shares tendered is more than the number of shares to be bought back - then the following formula will be applied for calculating the accepted shares.

Number of shares accepted = Number of Shares tendered by Shareholder / Total number of shares tendered X total number of shares to be bought back," says Parag Parikh Financial Services research report.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management.Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click on the attachment