Hi @iyeron,
I have not found any details of nature of diversification. But it seems they have substantially reduced their holding and at the same time mgmt have communicated that they intend to control majority holding so in future hopefully, the stake reduction would be lesser. Atleast they are not going to sell for one year as per recent filing.
Being a smallcap company and that too involved in service business, I believe quality of mgmt is very important.
Till now, I could not gather any evidence against promoters. Regarding corporate governance or any decision which could not be minority shareholder friendly. Am I missing something? Though this stake sell is something I did not expect and only worrying factor for me as of now.
Has anyone on this forum got a chance to visit their office in any of the location? Maybe some scuttlebutt could be helpful to increase the conviction.
Has anyone studied this company and decided not to invest due to any such problems? I am kind of trying to find out antithesis or what could go wrong?
Thanks,
Pankit
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