[radhutheoptimist]

Thank you Rathi ji and team for your efforts.

I am sure share purchase for employee trust/ESOP will follow next. This action is within the management control. Btw…. If they purchase through employee trust do they need to inform exchanges immediately?

Hope dividend distribution will happen soon. If they announce record date then there may be some slow down in price fall.

Mediamint closure is crucial…

I am not so naive to call all these inaction as just corporate governance ignorance. Next SHP will reveal the actual reason. Good luck to all.

[chris]

After today’s trade which equals nearly 2 percent shares of the company’s equity, bcg back at the bottom circuit. So much for volume analysis 🧐

[Logan]

The problem with BCG is that the management/CEO will always act late and this will make people lose trust in the company. The appointment of new CFO is the best example. They knew that Mr.YSR would retire and had time to look for replacements but they got serious only when investors put pressure. Same with bonus shares issuance, and other important things. When you run a public company you should be very sharp and react quickly.

Higher stock prices makes people lazy and we can see that with BCG. They should start taking more responsibilities and should look at investors concerns. Now they have to answer more than 3 lakhs shareholders and should address everyone’s concerns.

FA is not in their hand but appointment of CFO was so they should look at things that are in their hands. Same with bonus, from their end if everything was done quickly then the exchanges wouldn’t have taken more time. If CS was there he’d have handled it properly and they’d have credited bonus shares sooner and we’d not have seen this much supply and pressure.

Business wise they act quickly but market and investor relations wise they are very slow.

[Nikhilraj]

But the pain point is everybody starts suspecting whether they are making these delays deliberately. Crefibility eroding than the stock price !

[Logan]

@Nikhilraj, yeah people will have that doubt and like I always say they should contact the management, talk to them, get answers or they should approach SEBI or other concerned authorities.

[kmr003]

what ever recognition BCG gained in investors circle, they are loosing day by day,

1. Few updates they give to exchange are not up to standards, they even make spelling mistakes, year date etc.
2. The website of BCG is not even updated, still has old data of CS and CFO, Home page is not informative. Look at other company sites for reference. how good they are. BCG home web site clearly it does not fit 5000cr Sales company.

3. Management is clearly lacking investor communication and presentation skills. This has been issue from investors from last 5 years every CC . but SKR is not prioritized.

4. Big investors always prefer management guys who are reachable. I did not received any email response from last 5 years. (written more than 30+ emails)
these are reasons community is stayed away from BCG for many years

5. My personal opinion. by seeing from last 7-8 years. I don’t think he will change overnight. (last year was best opportunity for him, he lost)

They should realize this as early as possible, Best option is SRK should onboard some reputed guys from reputed companies or should offer them his post to bring credibility and respect in investors community.

Investor community should initiate this change. we should have some voting or petition to understand their mistakes.

[Raja]

Dear all,
SKR, looks like he knows what he is doing…especially protecting his personal interests. From the last few months, his activities are not up to stake holders expectations….having said that he has also made several of the members in this forum benefit…looks like things are going out of his control and that maybe the reason he is not able to handle the current situation. It will interesting to know, whether earlier big investors are holding or existing….can anyone throw some light on this ?

[nitin_asce]

By reading the reply on share holding, I think if that is the case they could have disclosed same 3 months back.
Don’t know why they did not issue the notification.

[Logan]

@nitin_asce,

Does that mean they’ll get back those shares?

[nitin_asce]

@logan my understanding is for pledging purposes it was moved to some brokers pool account. As per legal advise since they are not in promoters demat account it cannot be claimed as shareholding.
So once all loans are repaid, the shares will return to promoter account.

Somehow got a feeling this issue was unnecessarily created to bring share price down. It just my own feeling. Otherwise they could have issued same clarification 3 months back.

[kiranj]

If that is the case then promoter holding will be 30% after those shares released from pledge?

[vgsatwork]

First Apologies as I am still active in this group. I am continuing in this forum since I did not exit BCG fully and still continue to hold a sizeable number of BCG shares with the hopes of change in management would change the fortunes of the company since the underlying business is good.

I saw the letter that is circulating in Telegram group (addressed to investor cell). This still does not explain the missing 18 Crore shares from the promotors group. I have went as far back as Mar 2019 and the pledged shares at that point was 10 Crore shares. On 25th Jan 2022, total pledged shares by promotors is 2.3 crore shares. On 31st Mar 2021, pledged shares were 5.95 crore shares. No matter which one of these SHP you assumed to be true, it still does not explain 18 crore missing shares from promotors.

I feel those pledged shares have been sold (either by promoter or by the institution to which it was pledged to) and over the course Q1 FY23, promoters are buying them back from market through proxies just in time to have this in order by the time SHP for Q1 FY23 is due. Otherwise this explanation could have been given on 21st April when the SHP came out and the price destruction in the BCG share price could have been significantly reduced.

I have filed a scores complaint against the management for possible insider trading between Jan to Mar of 2022 with them holding a price sensitive information (regarding FA order from Sebi from Sep 2021), that the market was not aware until 28th Feb 2022. It is quite possible that management has not done it intentionally, but we the shareholders are paying the price and someone must be held accountable

[buffet]

@rathi_b & team: Any discussion happened around pledged shares with SKR?

@logan/@conservative_indian/@headstead
As per the latest SHP, the pledge % is showing 4.73% i.e. 90 lacs from 19 cr shares. Does this mean that once SKR unpledge the remaining 4.73%(90 lac) shares, all 19 cr shares will move back to the promoter’s Demat account? Is it possible, that lenders would not return those shares or have already sold them to recover the debt?

[radhutheoptimist]

If the time period was in 2019 when share price was around 5 the value of the pledge would be not more than 50cr. Looks like promotors played a well calculated game and right now holding more than 30% and might have accumulated more through proxies.

[smitsat]

Related party transaction update on BSE

[Logan]

Unsecured loans given to MediaMint (Vuchi Media) is 195.19crs and equity investment is 168.86crs (close to 170crs). Totally they’ve paid 365crs to MediaMint.

The deal is for 566crs. 360crs should be paid in cash, 170crs in equity and 36crs later in cash. So remaining they’ve to pay (165+36=201)crs.

[Investor_2022]

Dear Logan, does it mean BCG management has clarified that Mediamint acquisition is done? (that is 120 rupees per share cum bonus price)

[Abhishek]

what it looks to me “Since 65% of Mediamint deal payment done, means deal must be closed soon formally. For Mediamint too, there is no business case to cancel deal in current global market. Also Mr. Vuchi would have already started working on his next initiative by provisioning Mediamint deal amount”

[Mundada]

Still not clear regarding shareholding pattern.
Number of promoters shares before 5 years 18 + crore.
Maxi. Pledge 11+ crore during last 5 years.

Therefore minimum promoter holding excluding pledge should be 7 crore plus bonus of 1 share for 4 shares. But on 5th April disclosure, promoters holding starting with 3+ crore before acquisition from llp.
I think promoters holding must be low since long time

[kiranj]

In MC forum the change in the share holding pattern was well explained. Makes a lot of sense.

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