IVRCL; IN A BULL GRIP

So my dear readers, the IVRCL saga continues with the battle for the Company now also seeming to set the media aflame. As most of you may be aware by now, all major newspapers have today extensively reported on the IVRCL soap opera, if one may call it that.

• The INDIAN EXPRESS today reported that the ESSEL GROUP has further increased their stake to 12.27 % by buying 55 lakh shares from the Markets on 2/4/12 and 3/4/12. This takes its share holding currently in IVRCL well over the 11.8% held by the current Promoters. The report seemed to suggest that most Investors feel that now ESSEL will go all out to takeover IVRCL and that the open offer at a later stage would come at a hefty premium to the Stock price.
• The TOI went a step further and in its today's report intimated that the ESSEL Group could, in fact have already acquired about 20% stake in the Company over the past 2-3 months. It further quoted unconfirmed sources as saying that the current Promoters of IVRCL could be in talks with a large Global PE Fund to thwart any hostile bid.
• The ET went even further perhaps, in suggesting in its today's Article that ESSEL promoter Subhash Chandra had offered to buy out Sudhir Reddy's IVRCL stake at Rs 90 per share !!!!

Well, well, well, the Media sure seems to be going overboard in its reporting on the matter and though at this stage it is extremely tough to separate the chaff from the grain, it is almost certain that the Share Price will remain buoyant as the drama unfolds and possibly moves towards closure. And for sure, minority / retail investors ain't complaining.


ALL EARLIER MUST-SEE POSTS ON IVRCL RIGHT HERE