General Discussion

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    Registered Boarder

    Are our Hyderabad friends thinks of visiting BCG office?

    Registered Boarder

    BCG has got best ever media coverage in almost all business news channels .. now waiting for that villain turned hero twist moment ..

    Registered Boarder

    HI Guys, please send your email to these below ids to updatde exchange with revised SHP asap,,

    Registered Boarder

    Please have some patience. It will be uploaded by EOD tomorrow.

    Registered Boarder

    how do you know it will be uploaded tomorrow?

    Registered Boarder

    BGL gave explanation for share holding.

    Dear Sir/Madam,
    Sub: Compliance with SEBI Order No. WTM/ASB/CFID/CFID__4/25730/2023-24 dated
    April 13, 2023 in the matter of Brightcom group Limited. (Hereinafter referred to as
    “BGL”) & Explanatory Note for the purported share sale of Promoter Holdings in
    period 2014 to 2020.
    This has reference to the captioned order passed by SEBI wherein at Para 177 (c) BGL has been
    directed to publish on the stock exchanges platform, within seven days from the date of this order,
    the statement showing shareholding pattern, as required by the order above.
    In compliance of the said direction please find attached herewith revised Shareholding Pattern
    from the quarter ending March 31, 2014 to June 30, 2022.
    Explanatory Note, for our shareholders, for purported share sale of
    Promoter Holdings in 2014 to 2020 period
    We hereby give a brief explanation of the purported share sale of Promoter Holdings over 6 years,
    ie., 2014 to 2020.
    Brightcom Promoters had pledged a part of their holdings to ICICI Bank, SBI, Canara Bank, Axis
    Bank and a few NBFCs back in 2013-2014, in order to collateralize the business debt.
    These financial institutions invoked the pledge and sold shares in the market, in 2014-2015 at
    prices between Rs. 21.20 to Rs. 6.40 (these are adjusted prices for all corporate actions including
    bonus, therefore, comparable to today’s price). The total number of shares thus sold, was around
    5.4 Cr shares on an adjusted basis.
    Thereafter, from 2016 to 2020, the Promoters had taken loans (for business purposes) by pledging
    their shares to a few other private lenders, and these share pledges were also invoked and shares
    were sold by these lenders, in the 4 year period.
    The total number of such pledged shares sold was around 18 Cr shares (Adjusted basis). The
    average price of these sales by private lenders, as calculated, was approximately Rs. 2.70/share
    (Adjusted price).
    Therefore, the vast majority of the promoter shares sold between 2014-2020, were neither direct nor
    discretionary sales by the Promoters themselves, but, in documented fact, these shares were sold
    by lenders to whom these shares had been pledged.
    As is also clear from the above data, there was no enrichment by the promoters, and the shares
    sold by lenders over the 6 year period, were at rock bottom prices.
    Accordingly, the company and promoters shall present the above factual data, in greater and more
    granular detail, to SEBI, in its upcoming submissions and hearing, and in the subsequent
    adjudication process.
    The company shall most humbly submit to The Regulator that there was no intention and mens rea
    by the Promoters to unjustly enrich themselves & that the bulk of promoter Holding shares sold in
    the 6 year period, were pledged shares being sold by lenders, and that too, at rock bottom prices.

    Registered Boarder

    So what we understand promoter has miniscule holdings in the company. All lies were to protect any hostile takeover.

    Business is doing very good. Does it mean promoters have intended shareholding now in the company?

    Registered Boarder

    So what is the future of those shares sold by lenders ? They are still with public ? Lenders to get those shares from open market and give back to promoters? , If yes any time lines ?
    Importantly whether the promoters repaid the loans they had taken from these lenders ?
    Can any experts enlighten me on the above questions ❓

    Registered Boarder

    Promoter staek is 18.4%
    BGl is candidate for hsotiel take over.
    once lender sell shares, it will not come back.
    Prmoter has to purchase from market to increase stake.

    Registered Boarder

    This sebi accusing by sebi is of great help to Retail investors in one way, otherwise it was becoming an endless game by traders and promoters . Now ther is no other option but for the promoter to have more skin in the game . We all have been insisting the same for a long time .. i remember Logan also pointing this out earlier when they gave bonus and dividend last yr . It would have been great if promoter had taken more stake w.r.t share holding rather than showing 1000 cr + surplus in the books 📚 . Now time has come for transparency to prevail . He has to clean the sh*t of the past otherwise they are in soup 🍲 . Thanks to SEBI again for this action .. (at least they have done it now)

    Registered Boarder

    Todays 5 cr volume created by only 2 groups by selling buying on same day, so there is no big investors as exit as being discussed in MMB

    21 Apr 2023 TOPGAIN FINANCE PRIVATE LIMITED S 11800004 11.95
    21 Apr 2023 TOPGAIN FINANCE PRIVATE LIMITED P 12100004 11.95

    Registered Boarder

    Share holding pattern of BCG as on 31-03-2023 uploaded. It puts to rest all speculation that the promoters have sold their shares. They not only have their 18% + intact but FIIs have increased their holding to 15% +
    See share holding pattern at the bottom of the Screener India website

    Registered Boarder

    Let’s get something straight, enough of these bends, twists and turns.
    Skr and group have lost most if not all of their shares through pledge over six odd years between 2014-2020. According to skr/management they are saying the lenders have sold shares in open market, but have also admitted that they were aware of the same. So now question to be answered is if they can retrieve their shares through the legal route ?

    Now the SHP as of today is absolutely correct, and this has been picked up through the warrant route. What is true is, currently they do have 18 percent, but what will be the implication or fine or final judgement by SEBI for the management actions between 2014-2020 is what is going to define this short term volatility.

    Registered Boarder

    SHARE HOLDING pattern is out.
    PROMOTER HAS 18.48% shares as shown in march 2022.
    Lender had sold the shares in past & in 2021 which will not come back. That is why share holding decreased from 41 to 18.48%.
    Promoter has aquired some shares from LLP to maintain share holding.
    SKR has 0.86% with ownership of LLPs.
    So there is no PUMP AND DUMP practise here.
    Managment Has cleared shareholding pattern an dexplanation regarding decreased share holding.

    Registered Boarder

    I think they will be let go after petty fine maybe few crores of rupees.
    I think intent will be very important in this case since shares were sold by lenders at rock bottom prices there is no intent to defraud the investors by making money. So the case be becomes wrongful reporting instead of making money of small investors.

    All these things were done to gain their sold shares and promoters are successful in that. Hopefully we will see a new dawn in bcg now as shareholding was single biggest issue remaining rest all are reporting matters which can be easily resolved over a period of time.

    Registered Boarder

    1.Now SKR has to go for re-audit of BALANCe-SHeET from 2014 to 2020 as per guide line from SEBI. I suggest to appoint auditor like E&Y for all subsides and standlone level.

    2.To open more for various disclosures.

    3.DAUM settelment is priority to disclose audit reports of all subsidies.

    4. buyback from open market.
    suggession are wellcome..

    Registered Boarder

    Please dont expect those things from SKR he wont appoint EY for audit, he only provide defending comments to sebi allegation thats it..huge cost for reputed all know previous CFO salary was only 12 lakh per annum

    Registered Boarder

    It is clearly mentioned in the forensic audit report starting from the quarter 4 result, all subsidiaries, if not audited, should at least be reviewed by any NSE 100 company’s auditor.
    So no reason will be allowed this time.

    Registered Boarder

    I think BCG may reverse between 9-10 price and then may hit a few UC and may remain range bound for a few months until the final review comes from Sebi.

    Registered Boarder

    Regarding the erosion of Brightcom share price – Now it is all due to the share holding of promoters AND/OR whether they artificially inflated the prices and enriched themselves AND/OR if they pledged their shares and it got sold, etc. etc. Everything about the share holdings of individual promoters.

    But nowhere is there any talk of the sales and profits of the company being manipulated NOR is there any talk about the foreign subsidiaries being paper companies and that their sales and profits are cooked up. This even after a Forensic audit conducted by a world leading auditor.

    Thus the business of BCG is real and generating profits. At the end of the day the share price of BCG will be determined by the Profits it generates. No matter who owns how many shares, eventually it is the value of the BCG business which will determine its price.

    When people realise that the BCG share price should depend on P/E ratio and not on who owns what shares, the BCG shares will zoom up.

    Please people! post some comments. Thanks.

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