External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Torrent Pharmaceuticals / Equity Bottom-Up

<ul><li>Torrent Pharma has entered into definitive agreements to acquire a controlling stake in JB</li><li>Chemicals and Pharma (JB Pharma) from KKR at an equity valuation of INR 256.89 bn, followed by a merger of the two entities</li><li>The acquisition will be executed in two phases: (1) acquisition of ~46.39% equity stake through an SPA^ at a consideration of INR 119.17 bn (INR 1,600 per share, ~11% discount) and 2.8% from certain employees of JB Pharma, followed by an open offer to acquire up to 26% of JB Pharma shares from public shareholders at a price of INR 1,639/share, and (2) merger between Torrent and JB Pharma through a scheme of arrangement, whereby every shareholder holding 100 shares in JB Pharma shall receive 51 shares of Torrent</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Torrent Pharma has entered into definitive agreements to acquire a controlling stake in JBChemicals and Pharma (JB Pharma) from KKR at an equity valuation of INR 256.89 bn, followed by a merger of the two entitiesThe acquisition will be executed in two phases: (1) acquisition of ~46.39% equity stake through an SPA^ at a consideration of INR 119.17 bn (INR 1,600 per share, ~11% discount) and 2.8% from certain employees of JB Pharma, followed by an open offer to acquire up to 26% of JB Pharma shares from public shareholders at a price of INR 1,639/share, and (2) merger between Torrent and JB Pharma through a scheme of arrangement, whereby every shareholder holding 100 shares in JB Pharma shall receive 51 shares of TorrentContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Torrent Pharma: J.B. Chemicals Acquisition a Strategic Fit. Maintain ADD