Aggrieved Shareholders should form a Whats App Group
September 30, 2019
Consolidation to a Higher Denomination was done by Binani Metals, Rasoi Limited , attempted by Digvijay Finlease ( later withdrawn under Public shareholders' pressure ) and , now, being attempted ( but opposed by shareholders ) of Macrofil Investments Ltd ( a Nusli Wadia Company ).
Macrofil Investments is an Investment Holding Company of Nusli Wadia group ( Bombay Dyeing, Britannia , Bombay Burmah , National Peroxide etc ).
Marofil Investments holds ( on a very small capital base of Rs.44 Lakh ) inter alia one third of National Peroxides' Equity.
In the last one year Market price of shares of National Peroxide has gone up from Rs. 600 to Rs.2000.
Macrofil Investments has , very cleverly , devised a plan to consolidate face value of one share from Rs. 10 to Rs. 5000.
All the Non Promoter shareholders would be evicted.
The rate set by so called is around Rs. 3400 per share.
This has been worked out by Valuers appointed and paid by Macrofil Investments.
The realistic rate should be Rs. 10,000 + ( for Rs.10 share ).