Bought a brand-new #OnePlusNord4 on May 11 from Reliance Digital as a Mother’s Day gift. It went dead next morning! Now being denied replacement by service centre. This breaks trust over the brand. Feelin cheated,Need help
S.N 863307071369990
@PeteLau@Vikas_AGL @RobinLiuOnePlus
What is the use of tech advancements in @RailMinIndia when trains are running late by more than 12 hours
Even after paying more than the actual fare, still people are made to suffer in the train without Pantry which is more than 12 hours late (train no.: 05194)
@RailwaySeva
ICICI Securities Delisting Voting is on......
#ICICISecurities
Dear Friends,
THE MOMENT OF TRUTH IS HERE. THE VOTING STARTS NOW! LET’S PROTECT OUR RIGHTS.
To keep things in perspective and to take some historical relevance, the fictional story of a wealthy merchant by the name of Dhaneshwar in the Kingdom of Vijayanagar comes to my remembrance
Dhaneshwar was a merchant in the Vijayanagar kingdom who had humble beginnings but became very wealthy due to his shrewd business skills. As his wealth and prosperity increased, he built himself a new palatial house and sold his old house to his childhood friend, Viveknath. Viveknath was an ordinary man of humble means. He loved his newly bought house and over the years, he renovated and decorated it as much as he could afford to do. Thanks to the tasteful decorations, Viveknath’s house became one of the best-looking houses in the town, and many townspeople admired his house.
One fine day, Dhaneshwar was passing by Viveknath’s house, and he saw how beautiful his old house looked now. Dhaneshwar was so captivated, that he was struck by a desire to get back his old house. He went up to Viveknath and offered to buy the house from him. But Viveknath loved his house very dearly and refused to sell it. Upon realizing that Viveknath wasn’t going to sell the house to him, Dhaneshwar used his influence with the powerful people in the kingdom to pressure Viveknath into selling the house to him. Dhaneshwar was not mindful of hurting his childhood friend and didn’t even care to offer a good price for the house. Fortunately, the king of Vijayanagar – Maharaj Harshavardhana – was a fair and just king, and he ordered Dhaneshwar to desist from pressuring Viveknath to sell his house against his will.
Cut back to today:-
The minority shareholders of ICICI Securities (ISEC) find themselves in the same position as Viveknath in the story above. ISEC is a subsidiary of ICICI Bank and six years ago - in March 2018 - ICICI Bank did the IPO of ISEC. Nearly 25% of the shares of ISEC were sold to minority shareholders at Rs 520 per share in the IPO. At that time, ISEC generated a profit of 340 crores in FY17. Today, ISEC has grown much larger, and in the latest quarter (Q3 FY24), generated a profit of 465 crores. In other words, the profits of a single quarter today are larger than the profits of a full year at the time of its IPO six years ago.
Like Dhaneshwar in the story, ICICI Bank wishes to take back nearly 25% of shares owned by minority shareholders through a delisting scheme. As per the scheme, ISEC shareholders will be required to surrender their ISEC shares - and will in exchange receive ICICI bank shares in the proportion of two ICICI Bank shares for every three ISEC shares - that is, at an effective price of around Rs. 730 per share – a mere 40% higher than the IPO price, while profits have climbed multi-fold since the IPO.
We believe that the delisting scheme is unfair to minority shareholders, as this swap ratio of 2:3 significantly undervalues ICICI Securities compared to its historical performance and market positioning.
It's worth noting that in the recent period, several mutual funds have increased their stake in ICICI Securities - this reflects a growing confidence among institutional investors in the company's potential and reinforces our belief in its true value.
Kindly join us in voting against the delisting proposal. For the proposal to pass, ICICI Securities will need 2/3rd 'majority of the minority' shareholder approval, and this is unlikely if we stand together to protect our rights. I've prepared a video guide to familiarize you with the simple e-voting process. You can access the video guide using the following link:
https://t.co/J5mfGCkQKr
Please familiarize yourself with the e-voting system and cast your vote against the delisting proposal promptly.
Please select the button that says < I/We dissent to the resolution (Against/No) >
If you encounter any difficulties or require assistance during the voting process, knowledgeable participants are available in our Telegram/WhatsApp group to provide support. You can join the group using the following link:
WHATSAPP
https://t.co/prKl4Rtdgx
TELEGRAM
https://t.co/7BzY4gglTh
Thank you for your attention to this matter, and I look forward to your active participation in the voting process and to saving ourselves from this grave injustice.
Best Regards,
Manu
Thank You Prakash Pynadath and @VikrantDarak and everyone else for championing this.
Thread:
This is a story of 2 Great Statesmen who have maturity to keep Development as Priority over Politics.
This is a story of 1 Bureaucrat who has achieved big milestones on his Merit.
This is Story of .@narendramodi Ji,
.@Naveen_Odisha Ji & .@AshwiniVaishnaw Ji.
1/16
Spoke to the father of the minor schoolgirl who lost her life in accident after her vehicle lost balance following street molestation. The poor man kept saying - “We are too scared to talk. They are in large numbers in our area”.
By ‘they’, he meant the dominant religious community to which the accused Shahbaz, Arbaz, Faisal belong. The victim was a backward caste Hindu