ELCID INVESTMENTS LTD is a promoter company of ASIAN PAINTS LTD. As per shareholding pattern on 31st December 2012, ELCID INVESTMENTS LTD along with its 100 % subsidiaries holds in total below shares in ASIAN PAINTS LTD.

SR NAME OF COMPANY / SHARES
01.Elcid Investments Ltd / 28,31,386 Shares
02.Murahar Investments And Trading Co Ltd / 5,74,367 Shares
03.Suptaswar Investments And Trading Co Ltd / 6,55,831 Shares

Thus ELCID INVESTMENTS LTD along with its 100 % subsidiaries is holding in total 40,61,584 Shares, which represents 4.234 % stake in the ASIAN PAINTS LTD.

Moreover as per annual report of 2011-12 apart the above holding of Asian Paints Ltd, ELCID INVESTMENTS LTD also holds shares in various other companies inform of Equity Shares, Preference Shares, Debentures, Mutual Funds, etc and have worthy portfolio of more than Rs 50,00,00,000 (Fifty Crores Only)

On calculating the market value of ASIAN PAINTS LTD. worth of 1 share of ELCID INVESTMENTS LTD. shall be as under

WORTH OF 1 SHARE OF ELCID INVESTMENTS LTD

= Total No. of shares holding in Asian Paints Ltd x Market Rate of Asian Paints Ltd. divided by Equity Share Capital of Elcid Investments Ltd

= 40,61,584 Shares x Rs 5,000 divided by 2,00,000 Shares

= 1,01,540/= per share

Moreover on bringing the value of its worthy portfolio into consideration, worth of Share of ELCID INVESTMENTS LTD shall be around Rs 1,10,000/= per share.

Thus promoters are only paying around 10 % of its worth.

So decide who actually gets bonanza ...... share holders or promoters ?????

VIPUL GANDHI, Share Dealer

Contact

Vipul Gandhi

Gandhi Associates

25, New Jagnath, Saptabhumi Apt., (GF)

Rajkot-360001

Phone : + 91 - 281 324 6757 / 329 6757

(m) 093755- 77007

Email : unquotedshares@yahoo.com

Web : www.unquotedshares.co.in

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March 25, 2022

Elcid Investment- Sandip Ginodia's Analysis

Blog Disclaimer ; Message as Received

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Sandip Ginodia- also a Dealer of Rare Indian Shares

Contact Details

SANDIP GINODIA

9830271248

ABHISHEK SECURITIES,

sandip@abhisheksecurities.com

http://www.abhisheksecurities.com / unlisted.htm

www.sapphirewealth.com

http: //www.abhisheksecurities.blogspot.in/

OPPOSITE HIND CINEMA, NEAR AXIS BANK

73a, GANESH CH AVENUE, 2ND FLOOR, KOLKATA-700013

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MESSAGE FROM SANDIP GINODIA

Elcid Investment goes from 17Rs/sh to 1.61 lacs/sh!

Even as global stock markets are taking a beating, following basic principles is services investors very well.

On 19th March, a delisting proposal was filed for Elcid Investment at a per share price of 1.61Lacs/share. The stock was listed at the exchange at barely 17/sh with no trading volumes.

The Backstory

Elcid Investments is an investment company, and its business revenue is the money generated by the Company’s investments and dividends from holdings in ASIAN PAINTS.

On the face of it, the stock has a market cap of just Rs 34 lakh, appears to be an unsound penny stock with no trading volumes.

Interestingly, this stock has thousands of buyers but no sellers. It has exchanged hands less than 10 times in the last one year. It was last traded on September 14, 2021, when only one share exchanged hands.

Shares of Elcid Investments are available with us in the range of 1,69,000-1,75,000/share. You can see further details at :trade.altiusinvestech.com or reach out to us at +919830271248.

On 20th March 2022, Elcid Investment, announced that the floor price of the delisting offer is Rs 1,61,023 per equity share, at 9,47,100 per cent premium compared to the current market price of Rs 17.

So what makes the Promoters pay Rs 1,61,023/sh or 9,47,100% premium compared to the CMP of Rs 17/sh?

Lets take a closer look at the holdings of Elcid Investments Ltd –

Elcid holds about 2,83,13,860 or 2.95 % of Asian Paints Ltd (CMP – Rs3040/sh) which is worth ~Rs 8500 crore.

In addition to this, Elcid has 2 completely owned subsidiaries which combined hold 1,23,01,980 shares in Asian Paints Ltd.

Hence the Total Worth of Investment in Asian Paints by Elcid Investments & Group Cos is upwards of Rs 12400 Cr.

The Table below shows the per share Intrinsic Worth of Elcid Investments –

The buyback of shares and the delisting offer is almost at a discount of 74% of the actual value of the Company(only considering the investment in Asian Paints).

We have in the past discussed about the actual worth of the company in one of the blogs links to which is – here.

Our investors had invested into ELCID barely a year back at around 80,000/sh. This translated to a return of over 100% with 1 year!!

The floor price this time is 14x the price set in 2013.

Holding company discount is applicable when the company is listed but in this case promoters want to completely buy out the company, said an industry veteran

“It is ethical for them to offer better pricing to minority shareholders, say about discounting them at 50 per cent or even lower since they are getting full control of the equity whose market value is much higher,” he added.

Reach out to know more about such hidden gems in the Pre-IPO space at – nikunj@altiusinvestech.com

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October 04, 2022

Elcid Investments - 2021-2022 - Annual Report

Please click ;-

http://elcidinvestments.com/wp-content/uploads/2022/09/Annual-Report-2022-1.pdf

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July 16, 2022

Elcid Investments Delisting Fails ? Please Recheck This

Blog Request Please Recheck independently the current Delisting status before taking any investment decision

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Please click ;-

14 th May 2022 post

https://www.thehindubusinessline.com/companies/bid-to-delist-asian-paints-holding-co-at-161-lakh-per-share-rejected-by-shareholders/article65411074.ece

25 th April 2022 Post

https://www.moneycontrol.com/news/business/grievance-relating-to-delisting-of-asian-paints-founders-company-reaches-pmo-8404221.html

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old post

https://economictimes.indiatimes.com/prime/corporate-governance/asian-paints-promoters-unite-to-delist-elcid-investments-will-minority-investors-be-short-changed/primearticleshow/90502976.cms

Rare Indian Shares ( by Ashwani K Aggarwal )

February 22, 2024

Elcid Investments Q3-2024 Results

November 28, 2023

ElcId Investments- Q2-2024 Results

Please click ;-

https://www.bseindia.com/corporates/NBFC_Consolidated.aspx?Code=503681&Company=ELCID-INVESTMENTS-LTD.&qtr=330&Rtype=P

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OLD POSTS FOR INFORMATIONAL PURPOSE ONLY

September 05, 2023

Elcid Investments-2022-2023-Annual Report

Elcid Investments- Q1-2024- Results

Please click ;-

https://www.bseindia.com/xml-data/corpfiling/AttachHis/7105f968-0528-4b73-9f3c-03020ae26816.pdf

April 04, 2019

Elcid Investments- A Listed Share Which Trades Only in Delisted Market ??

February 22, 2013

Elcid Investments - Delisting @ Rs.11455 (Last Rate Rs. 2-73 p)

Elcid Investment OFS ( 31-05-13 ) -No Delisting ??

March 20, 2013

Elcid Investments- Comments by Vipul Gandhi

March 25, 2022

Elcid Investment- Sandip Ginodia's Analysis

Elcid Investment goes from 17Rs/sh to 1.61 lacs/sh!

The Backstory

So what makes the Promoters pay Rs 1,61,023/sh or 9,47,100% premium compared to the CMP of Rs 17/sh?

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October 04, 2022

Elcid Investments - 2021-2022 - Annual Report

July 16, 2022

Elcid Investments Delisting Fails ? Please Recheck This

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