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GSPC stake sale in KG-OSN-2001/3 block-I: Bhartias take a Rs 1400 crore haircut
Mar 27:
The Bhartia Group has taken a haircut of close to Rs 1400 crore subsequent to the sale of GSPC's 80% stake in the KG-OSN-2001/3 block, in which the Deendayal field is located
8The valuation attributed by ONGC to GSPC's stake, means a $ 200 million loss to the Bhartia's.
8For the time being however, the Bhartias do not seem to have an escape route.
8Despite the loss in valuation, the company will now have to continue to invest with ONGC in the block
8And it will be a long time before value can eventually be unlocked in the block.
8In the hey days, when the valuations were right and the block was meant to hold huge quantities of recoverable gas, the value of the holdings were high and there were a few large international players who were interested in an acquisition but that opportunity is now lost
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8The valuation attributed by ONGC to GSPC's stake, means a $ 200 million loss to the Bhartia's.
8For the time being however, the Bhartias do not seem to have an escape route.
8Despite the loss in valuation, the company will now have to continue to invest with ONGC in the block
8And it will be a long time before value can eventually be unlocked in the block.
8In the hey days, when the valuations were right and the block was meant to hold huge quantities of recoverable gas, the value of the holdings were high and there were a few large international players who were interested in an acquisition but that opportunity is now lost
Click on Reports for more
