[VALUEBUYER001]

DGM ji current assets less current liabilities is working capital. 320-38 is 282 millions.cash is 15 million USD 110 crores rupees receivables is 128 million USD is 930 crores rupees short term advances 98 million USD is 720 crores rupees other current assets 78 million USD is 590 crores cash is locked in receivables of 930 crores against which only brightcom group is trying to get line of credit of around 700 crores or around 100 million USD it IS NOT OWN FUNDS hope you understand DGM ji?

[dgm]

Thanks Valuebuyer Ji.
Regards.

[Investor_2022]

valuebuyer ji, do you think LOC will get granted in near future?
And will it be that much (700 crores)?
Where would the company plant to use it?
I mean what would be the main purpose to get this LOC done?

[vsk]

Hi @tush2come, I remember SKR saying that growth is restricted due to the tight cash flow.

Probably once a LOC comes BCG can expand their business and grow at a higher pace. Correct me if I am wrong or misread that

[VALUEBUYER001]

Once LOC Which is likely around 100 million USD say 700 crores is sanctioned BCG can acquire many companies and have inorganic growth very fast

[Srd.rdx]

My sense says..there is some trouble in prederrential allotment issue.
I wrote an email but didn’t get any reply.

Has anyone got any reply recently or has any update to share?

[Saach]

Dear VSK, you are absolutely right: hereunder is the extract from the Conference call of Feb 2020. I believe you are referring to this paragraph!
QUOTE: “First and foremost, we’ve had a fantastic quarter. Like Y. S. R. said, we almost kissed INR 860 crores, INR 750 crores of which came from digital, software is about INR 110 crores. So it’s — we had a good quarter, and we’ve had no — business has been growing year-on-year. The reason there has been a little up and down, has been because the industry itself has been going through some turmoil. And then we’re also restricted because of our cash flow, and I’ve talked about that. But that being said, we are efficient. The teams have been good with the resources we have. We have maintained, in fact, brought in some growth.”
Rgds.

[Investor_2022]

I have just seen cover photo of Suresh Reddy on FB.
It is Hyderabad office which is getting ready to reopen when the govt. allows.
It shows Lycos LIFE is still there.
Does it mean Daum is settled with Lycos back to BCG?
Please share your views.

[sateanna]

Any news on when the results are declared and the subsequent con call dates ??

[XO09]

We are still behind PO completion. Without this nothing will move. Its already mid of may, things are not moving in right direction, then we as shareholders need to take action as discussed previously. No questions asked. As many supported Mayism and holding untill May, i have stopped the pessimism. this cant go on for life long and wait will be endless. if nothing concrete happens this time, i m gonna loge a PIL in SC with other investor’s on key out liners including pledge shares data.

[Srd.rdx]

With each passing day..hopes are reducing for preferential allotment. It certainly can’t take eternity to things to happen.
Not sure why it is the case with BCG..
Har ek cheez itne struggle se hoti hai.

I have not got replies to my emails. Have sent email stating that there are rumours of preferential issue getting cancelled. No replies. Its been over a week now.

Anyone has any latest updates?

[m4max1979]

Do not bother sending them emails because they never reply. At least they have never replied to my emails and I have sent them dozens of emails so far. And yes I agree it takes a lot of struggle by the company to even achieve the littlest of things. I am not sure how many people will agree with me here but the company has dug itself such a big hole in the last five years that now they themselves are finding it difficult to get out of it.

[dgm]

NSE approval may be pending due to limited functioning of NSE office, which is in Mumbai, due to Covid 19.

[odysee]

This inordinate delay in obtaining the preferential allotment permission from the NSE certainly necessitates an investor update from Mr Reddy. The BSE consent was received months ago, and if the NSE is not granting approval, then those objections must be highlighted by the company. The shareholders should not be left in the dark on this significant issue, as it leads to unwanted speculation on the intentions of the management pertaining to multiple pending promises and timelines for achieving clearly laid down objectives. The lockdown may have slowed things down a bit, but investor updates are urgently in order.

[XO09]

@odysee perfectly said and i agree. Things have slowed down but not closed and workimg with 33% capacity across government agencies so any exchange or backend operations have never stopped. I strongly disagree if anyone says that now corona is the showstopper. Look at relaince developments every company needs exchanges approvals, but only few companies able to get in still in this lockdown hard to believe. Also another point interesting to note is BSE in principle approval came on 5th March, and nse has queries which bse didnt, so both exchanges are working differently, when CF, ASM, compliance, etc disclosures are same then why the procedural differences? is this saying a different story to us on the PO got struck or on verge of cancellation due to abnormalities noted later by NSE.

This management has reached May also guys, where is Mr Kpal, and many others who were asking many of us During Jan-Feb to wait untill May 2020.

if this is the way it will appreciate and the issues are not being closed on time as it has seen, the disclosures made in last 10 days to markets are least interetsed to take note of any worth value in it. Surprised super financial overview and presentations could not fetch more deep pocket analyst to show any interest unlike us who are sitting on it on hope and promoters that it will change our fate and destiny.

I dont see any need and emergency still or serious note from skr to close out and trigger the price to ipen to sky. You will be amazed to see the results wont be declared untill June 30th, reason?? Government allowed more time for companies like this to utilize the time to their advantage.

if NSE approval doesnt come by end of this week, i am gonna press the alarm bell so tightly that it wont come out that hole ever as mayur mentioned.

[dgm]

Investor updates are definitely required. However I am particurly upbeat about the status of legal issue in 3rd May presentation, wherein company stated that mutually agreed out of court settlement contract has been drafted and logistics for closing are underway (i.e having started and in progress).
This legal issue was the main reason for downfall.
Global auditor have already been engaged.
If they achieve closure of the dispute soon then what else is big hurdle.

[dgm]

IT / ITES companies in Hyderabad have been allowed to open with upto 33% manpower from today only.
Let’s see. What happens now.

[XO09]

@dgm the last update on nse po came almost 30 to 40 days before where it has mentioned that there was some delay from nse. Post that untill today the management is least interested to make an update to investor what is the real problem still PO is open and want to keep it open untill they find some solution to the problem. Many rumors and speculations have been made on Pan card delay from nsdl and other documents which we dont know is overlook by BSE while providing their approval, either the exchanges have different guidelines and procdure or they are working in sync with each other or might the other issue alotogether which we arent aware.

It raises questions who is buying time here and what is left undone to keep this gap open till eternity no matter how much time lapse may be created.

I have written to SEBI to look into BSE and NSE approval process for PO, and such a huge delay between working on same thing have a difference.

The truth should be out and open and transparency again missing no doubt this happen time and again.

[dgm]

Company Update on preferential issue on BSE. Everything clarified. PO is delayed only due to pandemic situation. Nothing more.

[Investor_2022]

Dear Madam/Sir,

Sub: Update on Preferential Issue

We want to give a status update concerning the preferential issue of shares. The Shareholder approval and in-principle approval from the BSE are already in place as we indicated in our previous updates. The NSE approval is still pending. Since one of the investing entities “Muskaan Limited” is a foreign company, NSE has requested for their PAN card, and in turn, we asked them to send their PAN card details.
We understand their PAN card application is stuck between the online portal and the NSDL office due to the lockdown and some additional information requests from NSDL. However, that process has been prolonged due to the situations created by pandemic, Covid-19.

We like to assure the shareholder community that there is no change of plan, and the issue will go forward as planned.

We will inform the investor community through the Exchanges once we receive the pending inprinciple approval from the National Stock Exchange of India Limited.

We request you to take note of this and disseminate the information.

Thanking you,

for BRIGHTCOM GROUP LIMITED
M. SURESH KUMAR REDDY
CHAIRMAN & MANAGING DIRECTOR

[Author]

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