Ah thanks for sharing these. I wasn’t aware of these filings.
Yeah so generally EC’s are notoriously slow to approve this kind of project so it’s possible that this is the grand vision of the management team they want to take a large approval all at once. See the example of ELAO that they took over last year from the Poddar family office which was allotted under the NELP scheme in 2016 (i think) and they EC took 4 years to clear. Now when the approval comes in will be a key monitorable. They could clear soon it earlier but I wouldn’t hang my hat on that and start making forward projections just yet but strategically they seem to be headed in the right direction.
Secondly, Selan’s BS has c.a. 200 crores of cash. The Antelops entity raised around 1000 crs which they are planning to merge with Selan at some point but Antelopus has its own share of committed capex and it’s not like the promoter group will shy away from committing further capex (if it makes sense). So I am presuming that the grand plan will take place only after the merger comes thru as they will have larger balance sheet strength and will be able to leverage the Balance sheet.
Hope that helps!
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