- This is subjective. One may wished the current promotor to go away and replaced with new promotor like what happening in real estate business. But agree, people always like companies with promoter
- I don’t think there are many subsidiaries. Most of them exist because of some form of mandatory requirement. Attaching structure from AR22
99% of business is done by 2 companies (parent and ICCL) – Housing loan done by parent and loans not classified as homeloan are done through ICCL. If you ignore these two, then there is some subsidiaries related to AMC which is sold to Groww. You will not see this in AR23. Pragati Employee welfare trust just holds the shares of the company itself [you can find this in shareholding pattern]. Management further mentioned in Q4FY23 call that this structure will get cleaned this year
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