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This is getting really very poor. Accounts have to be out by month end or suspension. There is also a complete absence of other news e.g. Successful tenders. It might be expected by now that some of the solar projects would have been built.
I agree Hounddog - I'd have just released a statement to say the accounts will be released on X of June. RE: the big seller... why sell before the results when we're they're supposed to be "in line with expectations"? I have a few conspiracy theories!
Spoke to Bob Smith last week he phoned me from India said company is do good and they will let us know before they release results and he repeated what the said in February, if you ask me those big trades that went through the other day was a buy and I seeing alot of unusual trades going through, Bob was very positive about the company. Just doing a few calculations back of fag pack, October they said they had 1000Mw, my guess is they are close to 1500Mw now with 200 coming from solar and that will generate another half what they made last year, asset close to a billion pounds minus half that for debt minus 10% gives me a company Value of 400 million within 5 years, India renewables is a hot market with lots finace being offer and lots of big energy companies globally want a piece of it, Mytrah are one of the main players in the market and could get snapped up, 72% not in public hands leave very little shares so this going move quick just in the news if result being posted
One other point if you go to mytrah website and look at what jobs are available the an interesting one there. "Key role in driving IPO process" Senior Manager / AGM -Equity Finance Location: Hyderabad Roles and Responsibilities: Candidate having worked with business consulting/advisory, project finance, equity funds, investment banking firms in infrastructure sector. Analytical & logical thought flow, Excellent communication & Interpersonal skills and a team player. Play key role in driving IPO process including preparation of DRHP document, finalization of investors’ related documents/consents etc. Qualification: CA/MBA/CFA Experience: 8-10 Years
I'm with you, SMTrading. Have you bought in yet? I'd like it if the directors bought some shares but appreciate they won't be able to at this time. On balance an IPO should be good for us... shouldn't it? Cross-listing will allow the company to be re-valued in a market that will value it considerably higher. They'll be able to refinance and raise more capital to help keep up with their rapid expansion, which is much bigger and faster than in the start-up days as they're growing the size of the old Mytrah every year now.
Look up Greenko it was India renewables Co that went private due to stock being undervalued, I think mytrah may have double listing and possible main market listing within 5 years all going well
Thanks for your posts SMTrading. Like you I would assume they should be closing 1,500MW - but where are the RNSs? I came to a similar valuation on a very crude DCF basis. However, I have a suspicion recent PPAs are not so profitable. They are clearly up to something - IPO/refinancing/investor exit. Probably all three but it is unnerving not knowing what. Bob Smith I have always felt presents very well but I am not sure how much of a finance person he is which makes me a bit wary. I agree that a move up to the main market would at some point be desirable but only if they are around FTSE 250 size or would get there rapidly. Otherwise better to be a bigger fish in the smaller AiM pond. I suspect the new listing they are contemplating is in India or on Singapore - both not hives of liquidity for small companies to my knowledge.
Agree not long to wait I now, expecting an announcement with the week with a date of when results will posted and possible 2017 trading update with it then the long awaited results within a week after that