Inferences from BSE shareholding filings of Sep-22 and Dec-22
Overall Equity Shares- 285 Cr.
Non-promoter holding Shares- 136 Cr.
- In Sep-22 filing, concentrated positions (with Big Hands/Pre-IPO investors or Early Investors) had 80 Cr shares, rough approximation per my understanding.
- In Dec-22 filing, concentrated positions have reshuffled in below manner:
- 26 Cr were sold. 4 parties holding 86% of these shares completely exited. Bought by retail, MF and Insurance companies
- 22 Cr are still with parties that sold partially, contributing to the above mentioned sale ( might be participating in the ongoing sale)
- 32 Cr shares maintained status quo. In this, 56% is with one name.
In nutshell, I infer that:
- Insurance companies find value due to their long term horizon.
- Big Hands who are in rush to exit will do so irrespective of tax incident created due to Bonus share or ongoing price fall.
- Base formation shall start in Q1FY24.
Disc: Invested
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