DG - HOV Services

Dear Group Members

 

While researching some companies, I came across a very good company (HOV Services) as a good Buying Opportunity.

Below are my few research till now on the company.

 

Company Name : HOV Services

Listed : BSE & NSE Both

CMP 103-104

Market Cap : Rs. 130 Crore

 

Now My view is, company has got a Profit of Rs. 82 Crore with minority interest and EPS is 43.47

This makes HOV Services trade at a PE of Less than 3.

Individual Share holders below 1 Lacs are holding only 7% shares of the Company. Rest is with HNIs, Promoters, MFs, FIIs & Others.

 

Coming to the Management, I find the Pretty capable and with a great vision. I will go into deep research and insights of the same.

 

Now VERY IMPORTANT POINT.

Subject:

HOV Services - Outcome of Board Meeting

Announcement:

HOV Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 05, 2008, inter alia, has considered and approved the following: - A Material Transaction Proposal where in the Company has received an offer of approximately $ 202 million to purchase 100% of its wholly owned subsidiary HOV Services, LLC and its Hong Kong subsidiary from a Company controlled by some of Company's promoters and shareholders. On a fully diluted basis including ADR's if any, the shareholders will have the right to receive approximately $ 91 million in cash - the Company's shareholders will have the right to receive either cash of approximately Rs 170 or one share in the buyer for each share held as of the record date; the existing debt will be assumed under the terms of this offer. All shareholders as of the record date will continue to own their current shares after receipt of cash or shares in the buyer. The Company's independent directors believe this to be in the best interest of the shareholders and have recommended that the Company seek independent legal and financial advice. Upon satisfactory statutory or regulatory approvals, as required by law and subject to positive recommendation by the Company's independent advisors to Company's board of directors, the transaction will then be submitted for approval to the shareholders.

 

 

 

So Rs. 170 is just the value of a 100% subsidiary. What about OTHERS BUSINESS...!!!!!

 

Will keep you updating about it.

 

Please, note that please do your own research and then BUY or SELL it. I don’t hold any responsibility for the same.

 

JuSt

 

RoHiT

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Regards

BigGains !!

MARKETPLACE

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