This is case of delisting of the company in title. Promoter has nearly 70 percent stake want to delist it . For delist they need atleast 90 percent stake. They gave deliating offer with nearly 290 as flood price and 375 indicative price. Investor price came 890 via book built reverse process. Prmotoer gave counter offer at 400. Now share price is 370 . You need to tender shares between 11 to 17 if you want to get shares at 400. So question us for short term positional investors and special situations player.
1) as promoter is willing to give 400 price value will ve more than 400 and people may not tender
2) if share are really valuable then 400 should price now not be more than 400.
3) in case shares are not valuable than 400 then all retailers mutual fund hni should start buying till it is 400 and then tender shares.
Give your well thought opinion
I am planning to buy more.