If the JKH push the JKH price above its JKHW23 warrant exercise price level, may be successful Conversion is possible but this will result in not more than 50,281,136 additional new conversed JKHW23 shares in the market and there will be sudden selling pressure and price fall in JKH after 12 Nov 2016 specially those exercised the JKHW23 in credit rush to sell after Nov12
Now the big lions are already well calculated the impending situation after Nov 12 year 2016(possible listing date) and if they exercise the JKH warrant they have to wait for unforeseen period to exit from JKH or incur huge losses as the current JKH price is staggering at Rs.156/- level and just few weeks back it was suddenly went down to Rs.142/- level, and “U” turn to Rs.150/- if add another 50,281,136 quantity of conversed JKH to this existing quantity they know what will happen, no need to calculate P/E, ROC or Beta value. Simple demand and supply curve is enough.
Last time after conversion of JKHW22, JKH announced unexpected Rs.4.50 divided to uphold the JKH market price, considering the JKHW23 future conversion, but this time no such reason arises.
So if JKH suddenly take upward trend, manipulator immediately push up the JKHW23 price upward and subsequence dumping of JKHW23 result in huge losses to greedy retailers as big lions are not ready to exercise the JKHW23 which they received free of charge when they subscribe to JKH right issue earlier. Selling JKHW23 at whatever the price is profitable than exercising JKHW23 for the big lions point of view.