Roughly how much would a 13% stake in Hyderabad-based Nagarjuna Fertilisers and Chemicals cost if one were to pick it up in the market? About Rs 175 crore (based on Monday's closing price on the BSE). The company's promoters, however, are going to increase their stake by 13 percentage points by investing just Rs 30 crore.
The shortcut taken by the KS Raju-run company, the flagship of the Nagarjuna group, has gone unnoticed. Sure, the market has been showing a sort of indifference, which is not how it usually reacts to merger schemes. And analysts, for want of clarity on the merger, are keeping mum.
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