Binani Inds holds nearly all the share capital of delisted Binani Cement. Binani Cement has been valued at Rs.4000 cr.
Whereas Market Cap of Binani Industries is only Rs.235 crore
Binani Cement to Issue Shares @ Rs.185/53p in Loan Restructuring Binani Cement delisted in 2011 at the Exit price of Rs 90 /- It has massive debt. The Banks sold off their Loans to Binani Cement to ARC ( Asset Reconstruction Companies ). Binani Cement , now , has finalised debt restructuring. As part of the bigger deal ,Binani Cement would issue around 2 crore 18 lakh ( 2,18,50,536 ) shares of Rs.10 each to Asset Reconstruction Companies led by Edelweiss ARC @ Rs.185/53 p each. Post issue the percentage of Promoters` holding will fall to 88: 21 % from current 98:43 %. ( It means when 10:22 % stake is being valued at around Rs.406 cr, the enterprise value of Binani Cement ( Unlisted is around Rs.4000 cr )- Please Recheck this
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