[BBPopuri]

If the price manipulations are going on with the support from the promoters(SKR), then I guess slowly shares are moving to SKR’s friends and associates.
Possibly the strategy is to garner shares from retailers at lower price testing their patience. This up and down might go on for some more time until the big retailers(members of this group) exit.
These are my thoughts when I read the above messages on buy back.
On the contrary Why SKR think of buying back @15/20, when he can get them in open market @ 6/7. Don’t you think this could be a strategy.?
These days majority investors are looking for short term gains and exit with small profit/loss. Many small cap companies are in the grip of the operators in which they are playing pump and dump games.
Still my doubt is whether SKR is colliding with these operators for small gains at the cost of his company’s reputation. Else he must have made attempts to neutralise the operators play. These are some of my random thoughts

[odysee]

@PBB, reference your post #10302, the buy back would entail the company paying for the shares and a reduction in capital.
The open market purchase would be from personal funds of the buyer, whether a promoter or otherwise.

[Sobha]

@Rathi_b,
Have you got the appointment or any response for meeting Skr?

[sac6310]

I had mailed to BGC IR team but they had not replied yet on dividend .does anyone received any response of BCG investor relation team ??

[Rathi_b]

Nope, still waiting for one.

[vgsatwork]

I doubt if any company would try to take over BCG as it stands today since EV/EBITDA is too good to be true and Mcap is way too less (and not especially known for good corporate governance), making it a cheap, but potentially risky bet unless the numbers could be verified independently by them. Unless the buying company gets access to the books of BCG, they would not be able to validate the numbers and get convinced to make a take over bid.

Buying 25% from the market and making open offer is no big deal given the transaction volumes in the exchanges. But the buying company should be convinced about the numbers in order to make an attempt and hence it(buying without verifying the books of BCG) could not be done by public(shareholder) money. If someone sitting with personal spare money of about 200 cr, they can try a takeover bid. But that is just too big a risk, especially when playing with personal money.

[Sobha]

No scope of take over. Skr and his IIT mate muskan together hold 42% as of now. Through oak, Everest and others sell off he took more than 8%. Oak shares have not came to open market. Skr kept the price above 10 for smooth exit of oak. Some friends met skr reported – “oak is exiting smoothly; purchase is not direct; but through other rout”. So promoters have more than 50% as of now.

[vgsatwork]

Update on #10279

Today is 31st Day since the declaration of dividend through notice to stock exchange has happened and still we do not have update from the company and the complaint that I sent to investor relations was neither acknowledged nor responded to.

I have no other choice other than to raise it with SEBI and have raised a complaint in SCORES portal for non payment of dividend.

If any of you receive any update from the company on the dividend subject, please do keep us posted

[buffet]

It would be better if some promising company like Affle/TTD with good corporate governance could take over BCG. Atleast this long term value erosion/supression will end for good. Otherwise, thr is end to suffering in the horizon. They are not even bothered about informing exchanges regarding possible dividend payout delay. I have never seen such careless management.

Sab andhadhund hey idhar to.

[Logan]

Companies like BCG go unnoticed because Mutual funds and other investment funds won’t do the same research like how debt investment companies do (especially distressed debt investing funds). When someone sees a company trading below 1PE, they’ll assume that something must be wrong with the company and they don’t dig deeper. Distressed debt funds check everything completely before making any move. They’ll check the complete history of a company – from its founding days to the latest development. Mostly they concentrate on debt so they won’t bother much about shares.

Mutual funds won’t touch distressed companies’ shares and also they won’t give importance to low PE shares. We don’t have hedge funds in India where we can find activist investors who will research companies like BCG. Investing in our country is dominated by mutual funds, PMS funds and apart from that there are only retail investors. Mutual funds and PMS won’t be as aggressive as hedge funds. Having activist investors will be good for shareholders but won’t be that good for the company so most companies will wish activist investors don’t invest in their companies.

Coming to adtech industry, most people will see only Brightcom (or Ybrant) and they won’t be knowing about the parent company. There are many adtech companies and most of them are private so everyone will assume Brightcom as a private company. Had he listed the shares in the US, it would’ve been very different.

Also not many tracked adtech companies for many years and nowadays most are tracking because of TTD’s success in the market. If TTD didn’t perform well then no one would’ve given any importance to other companies. Magnite (back then Rubicon and Telaria) went unnoticed for many years and it’s gaining recognition because of TTD. Similar case with other companies too.

As others have written, with this level of corporate governance, the company wouldn’t have survived in the US. Even though the company has talented people like Jacob Nizri, Brad Cohen and others, these people will have startup mentality and they won’t bother about the stock market. There’s no lack of talent in the company but all that talent is concentrated on improving the business and not on improving the corporate governance.

[anand84sharma]

anyone has noticed that the time limit of dividend credited is within in 90days as per the email/message received from the related Share broker. I have received on dated 22/12/2020

Dear ANAND SHARMA,

Please find below an update on the stocks held by you in your Angel Demat account.
The said company has declared dividends and it will get credited directly to the bank account linked to your DP within 90 days. If the shares are with the broker account, you are eligible for dividend and the said amount will get credited to your trading ledger

[nitin_asce]

I have raised the complaint on SCORES. I think this is best we can do.

Company has to close it in 30 days.

[Rathi_b]

Anand ji, I don’t know about your broker but generally my dividends have taken more than a month’s time to credit, I emailed my broker about the BCG situation, he told me it generally could take upto 45 days independent of what company it is. He is said generally they start disbursement around 15-20 days of an official approval but sometimes may take upto 45 days. Please correct me if I have stated anything inaccurate.

[nitin_asce]

@logan @diana any views on latest acquisition of a company in Israel by AFFLE.

[J.Bedi]

On lighter note – Might be they have forgot their corporate commitment on dividend ( Aadat nhi rhi thi dividend dene ki, They are not giving dividend for past many years)..

[Logan]

@nitin_asce, I don’t know how it plays out. Every company before acquiring another company will always say it’ll be a game changer but we’ll see the results only after a few quarters. Looking at Affle’s record, I think they will have made a good decision.

Sometimes acquisitions will be great for companies, Tanla bought Karix and that helped the company massively. I think it’s because of Karix that Tanla could grow by that much in the last year.

[Logan]

With other companies it is “Expect the Unexpected” but with BCG it’s always “Unexpect the Expected”.

[tanv151]

Such a sad state of affairs.. so many promises but no action. SKR’s way of operating has jeopardised so many peoples’ reputations who vouched for him at some point in time.

This whole situation reminds me of one of my posts in Sep. For those who may want to read it, post number is #8499. We discussed options to change the way things are done. Below is the excerpt from that post..

“We have seen more misses than hits when it comes to SKR sticking to his words.
So, I am trying to see what options we have which enable us to work with the management, especially SKR to ensure issues get fixed in a timely manner and shareholder’s interest is given adequate priority.

1 – Continue to remain patience and hope SKR will mend his ways? For how long?
2 – Complain to the regulatory bodies? If my memory serves me right, one of the investors claimed he raised a complaint long ago but we haven’t seen any action/impact
3 – Meet SKR as a group (in person) to raise issues and verify details that he has been open to disclose if we meet in person? This option was discussed early this year but people who were inclined towards this step were requested to give SKR some more time to fix things. Is it a good step to take now?”

And we chose to take the 3rd step i.e., meeting SKR in person. Thanks to the group that came forward to make it happen, we did see positive impact on the back of this step. I strongly believe it is time to explore all the options available in front of us and make this an important point of discussion.

Many have raised complaints using SCORES and we know what we can expect from this. We (HYD delegation) tried reaching SKR to get the latest update but no luck yet. So what next??…

– Wait and watch again? I am sure not many want to do this, considering the time we have spent waiting for things and critical deadlines like dividend pay out being missed.

I request everyone to put their views here…

@DianaHorton – I understand you had asked people to reach out to you if they had any info. Do you have a plan to fix this issues, just checking? It is fine if we can’t get into the details on this public forum.

[lycos.rags.to.riches]

I am not seeing Peshwa Acharya in the list of directors in the brightcom groupwebsite. I remember seeing it couple of weeks back. Do you guys think it might be a mistake of excluding him when the https changes were being done on the website or something happened which we are not aware of.

[buffet]

Peshwa being shown as independent director in his linkdin profile.

Hopefully he is with BCG still.

Anyways thr is no use of these puppet directors who don’t have spine to do right things & protect shareholders.

Knowingly they are part of this all along.

[Author]

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