IGC Stock Offering: No Proceeds for the Company | IGC Stock News

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3 days ago
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The selling stockholders of India Globalization Capital, Inc. (IGC, Financial) are offering shares of common stock, but the company itself will not benefit financially from this transaction. As IGC is not issuing the shares directly, it will not receive any proceeds from this offering. This financial maneuver allows the selling shareholders to liquidate their shares while IGC maintains its current financial position without inflow from this particular sale.

Wall Street Analysts Forecast

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Based on the one-year price targets offered by 2 analysts, the average target price for IGC Pharma Inc (IGC, Financial) is $3.88 with a high estimate of $4.25 and a low estimate of $3.50. The average target implies an upside of 979.39% from the current price of $0.36. More detailed estimate data can be found on the IGC Pharma Inc (IGC) Forecast page.

Based on the consensus recommendation from 2 brokerage firms, IGC Pharma Inc's (IGC, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.

Based on GuruFocus estimates, the estimated GF Value for IGC Pharma Inc (IGC, Financial) in one year is $0.39, suggesting a upside of 8.64% from the current price of $0.359. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the IGC Pharma Inc (IGC) Summary page.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.