Two updates,
VV has been allotted more shares, but he is buying them by pledging his old ones. Can be taken positive as well as negative.
Positive because it means he is confident, already burnt his hands once I think this time he would have been more prudent in making this decision.
Negative because disaster like last time can happen again .
Rating update could not have happened at a better time. They want to raise capital, this way we can get better rates for T2 bonds.
Although if anyone can shed some light on as to how much more they can raise via T2 , what is the limit ?
I have one more question as to wealth management business. As we know they already had about 6500cr of business in wealth management and it had grown at the rate of 100% YOY, if it kept increasing at the same or little less pace, wouldn’t these funds be moving from CASA to other Mutual funds and all that. At a time when we are already staring at less growth in deposits, does it bode well ??
If I am completely wrong in that please let me know.
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