I have shares of Tata Communications and the stock value has come down (now increasing but still below my purchase price) after the demerger of Hemisphere Properties portion. It is apparent that Hemisphere would be listing soon but I don’t see any news about when it would list. Further, would it be worth to retain those stocks or sell it off for some listing gains?
Hemisphere the d-merged resulting company of Tata communication will list after receipt of Sebi relaxation under rule 19(2)(b) which take around 45-60 from record date or even more . in this case record date was 18 September.
LATEST Example : Aarti industries d-merged Arti surfacatant and last date to buy WITH was 02 July .it is nearing 3 months , sebi relaxation not received .
The stock has been credited to my demat account - got email from CDSL. Not sure when would it start trading.
@gischethans: Listed from October 22 of 2020 wherein record date was 18 September 2019 …perhaps most delayed listing of d-merge case ever that too of a TATA GROUP company .
Thanks, @aniln. Yes, the stock got credited to my account as well (in fact, several months ago) and trading started last week 22 October. It has been consistently hitting the lower circuit since then and has become almost impossible to sell. Everyone seems to be keen on exiting.
@gischethans: Public sector nature of Hemisphere Properties may be the reason why this selling. So, people may be suspicious of PSU management`s ability to reward shareholders
DID A ROUGH WORKING OF SCRIP : Free float is only around 5% …holds a land bank of 740 acres amounting to around 11000 crore ( 385 per share)…available at just 1845 crore …
LOCATION…AREA OF LAND …MARKET VALUE
Delhi GK1 70 acre 7000 crore
Delhi-chaterpur 58 acre 600 crore
Pune -dighi 524 acre 3000 crore
Chennai 53 acre 200 crore
Kolkatta 35 acre 200 crore