Glaucus Research issues 'strong sell' to Rolta

The reason given for the report is that Rolta does not produce free cash flow and cannot repay offshore bondholders without refinancing.

April 16, 2015 / 14:23 IST

26 Aug, 2025 12:21

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California-based Glaucus Research, well known for shorting stocks, issued a "strong sell" report on software firm Rolta India , saying the company does not produce free cash flow and cannot repay offshore bondholders without refinancing.

"In our opinion, bondholders and rating agencies have fallen for the myth of Rolta," it said, advising investors to sell the company's bonds due 2018 and 2019.

It has set a price target of 16 cents on the dollar for the company's bonds dues in 2019 and those due in 2018 which ad raised USD 500 million in aggregate.

first published: Apr 16, 2015 10:04 am

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