Exit Piramal Glass at around Rs 110-112: SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "Piramal Glass has indicated Rs 100 as the indicative price. If you see the shareholding pattern, promoters are holding 74.16 percent, so the float is slightly below 26 percent. To make this delisting offer successful they will be required to mop up about 16 percent stake to take this stake to 90 percent.”

“HNIs kind of investors held about 13 percent stake and they are more close to the management and all that. They are likely to participate in the stock may be at a level of Rs 110, mopping up 3 percent from another 13 percent float from the public won't be difficult. So, I don’t think very stiff price discovery is likely to happen on delisting. So, those who are holding I will advise them to exit at current level of Rs 110-112,” he added.