Hi manish,
The volumes are very less. Its very tough to get 70000-80000 shares from the market. Polus Global wanted to have 25 lac shares which is just impossible to have at 130 or 160 levels. Price will shoot up once the buy requirement has been set for. Block deal was also not possible because no long term investors wanted to sell their stake.
Just a news – Dolly Khanna holds this company from 30 levels and still holds it. A VC firm run by ex-CIO fidelity investments has also invested some portion since long and still holds. We can find name of Dolly Khanna and other veterans from the AR.
What is strange is from the company’s angle – why did they dilute the equity. What is the rationale to bring polus global in the picture? Simple answer – marketing – to which my decision of investing doesnt affect at all. It is good infact for me that my investment is being shown by the company to be still undervalued. This gives me real confidence about the MOS and the upside potential.
Disc: My views may be biased since I am invested. Company shares 20% of my portfolio. Do your own due diligence before taking action.
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