SSTL valuations - analyst view

With spectrum in 3G getting valued at around 10000 cr (or even more) , the
value of spectrum itself in hands of SSTL would be closer to Rs 10000 cr
or about 40 per share. One can safely add another 2500 cr or 10 Rs per share for
the current operations. The fair value of the shares can thus be
construed to be minimum of at least 50 Rs. We believe that once 3G and
BWA spectrum auction is completed, and the pricing of additional spectrum for 2G
is finalized, the stock may get revalued in the market.

These are observation of an independent market analyst and AMSOST may not necessarily endorse such views. However in light of the 3G auction figures, AMSOST's plea in court for buyback at Rs 50 is certainly a fair plea justified by market analysis and the option for promoters to buy equity at Rs 10 is thus a clear robbery of the minority shareholders' value.