Hi,

Minerva ventures who received equity shares through FCCB conversion, 2 days ago sold almost full quantity. Why would someone sell shares just after conversion to equity and apparently in loss (if the managenment is honest and business is growing)? Am I missing here anything? Can someone who’s following the company put light on this?

To my knowledge and understanding the business is growing and they have ambitious expansion plans. Higher EBITDA than the peers. For 1500 Cr MCap company 23% FII holding is not normal, though no DII holding. Hearing 3-4 concalls(right from the 1st concall) of this company, I’ve always found Mr. Abdulkhalik Chataiwala’s voice determined and confident. Now want to understand if it’s wiser to hold longer.

Looking forward to diverse views.

Thanks

Disc – Invested from lower levels and have been holding from last 3 years.

The whole idea is as follows –

Company’s valuations appear cheap

I have got inputs from friends ( informed ones ) about the promoter’s integrity ( otherwise, I would not have touched it )

If they keep performing and keep improving their disclosures, it can be a multi bagger (well – potentially)

As my personal confidence improves ( if the management is able to execute well ), I can avg up later

At present – its a tracking position ( about 1 pc of portfolio )

That’s about it

Is it worth looking such businesses where so much related party transaction and where you already knew that you can’t make conviction here to buy a decent size or to hold when a price shoot up, don’t you think it is not worth the time that we are putting in?( In Marathon case- just for the sake that the Real Estate sector is in demand).

Disc- Discussing this not from buying or selling perspective, but trying to know in general.

Anyone tracking Greenchef Appliances?