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Pabrai Ends Exile From Indian Stocks


Parsad
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The link states that:  Now, the big news is that Mohnish Pabrai has, through “The Pabrai Investment Fund IV LP” bought a chunk of 196,06,634 shares of South Indian Bank at Rs. 32.50 each. Mohnish bought 1,45,45,500 from Renuka Ramnath’s Multiples Equity and the rest from the open market.

 

Do you guys know how I can verify this?  And more importantly how can I find out when he exists this position?

Since this is a non-US position, the 13f filing show this.

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You can verify it here

http://www.bseindia.com/markets/equity/EQReports/bulk_deals.aspx?expandable=3

04/07/2014532218South Indian BankTHE PABRAI INVESTMENT FUND IV LPB19,606,63432.5
04/07/2014532218South Indian BankMULTIPLES PRIVATE EQUITY FII IS14,545,50032.5

 

I dont know of a easy way to find  out about his exit, unless Prasad posts about that also would be happy to know though :) , IMHO the stock isnt super cheap like BAC so i am little surpised about this position

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The link states that:  Now, the big news is that Mohnish Pabrai has, through “The Pabrai Investment Fund IV LP” bought a chunk of 196,06,634 shares of South Indian Bank at Rs. 32.50 each. Mohnish bought 1,45,45,500 from Renuka Ramnath’s Multiples Equity and the rest from the open market.

 

Do you guys know how I can verify this?  And more importantly how can I find out when he exists this position?

Since this is a non-US position, the 13f filing show this.

 

You can assume that I would not have posted it unless it was from a verified source. 

 

You will not know when he exits until he does, and then discusses it like any other position in the Pabrai Funds.  He only talks about it once it is no longer a holding.  Cheers!

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You will not know when he exits until he does, and then discusses it like any other position in the Pabrai Funds.  He only talks about it once it is no longer a holding.  Cheers!

 

Oh! But we've heard him talk about Horse Head Holdings!

 

The exception confirming the rule....

;D

 

More seriously, he rarely talks about current holdings so not to fall prey to any behavioral biases.

:)

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You can assume that I would not have posted it unless it was from a verified source. 

 

You will not know when he exits until he does, and then discusses it like any other position in the Pabrai Funds.  He only talks about it once it is no longer a holding.  Cheers!

 

Sanjeev - ofcourse, once you post something I take it on face value.  I was trying to understand if there are some regulatory filings that I can track if I want to see investors taking positions in India.  I remember that this was briefly mentioned in Mohnish's lecture at MDI Gurgaon but the exact nature of the filing wasnt mentioned.  In anycase, the link kmukul posted above is useful.  I'll watch out for when Mohnish discusses the exit - thanks!

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  • 3 weeks later...

Although I had to follow pabrai here, as this is the only indian company he holds. I dont get it, May be i will get it after one year!  Past results were only ok although most private sector banks were able to grow very nicely and were available at similar valuation or lower last year. The other thing is indian economy might be able to grow fast (>6%) however i doubt it. Monsoons are bad so far and nothing else impacts the economy more than monsoons.

 

Learner do you have a way to monitor the bse site for him selling? Most likely he will hold for more then a year and it might tedious to do it manually.

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  • 2 months later...

Learner do you have a way to monitor the bse site for him selling? Most likely he will hold for more then a year and it might tedious to do it manually.

I didnt notice this question earlier, but I dont know of any good way to track selling activity.  That said, any 'bulk' exchange (buy/sell) of Indian stocks seems to be reported here ('bulk deals' under 'shareholding' on the left panel):  See http://www.moneycontrol.com/stocks/marketstats/blockdeals_query.php?sc_id=SIB&post_flg=1&myexchg=Both#SIB

 

Hope this helps.

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Looks like Pabrai Fund has now picked up a stake of more than 1% in another bank - Jammu Kashmir bank in India.

Thanks for finding this, PJM.

This position might actually be bigger, ~4% position.  Based on http://www.moneycontrol.com/bse/shareholding/shp_public_shares.php?sc_dispid=JKB#JKB Pabrai funds owns 2.56% of the Rs. 6,220 cr bank.  This translates to ~$26MM or 4% of $700MM Pabrai funds.

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