Also, would like to point out a red-flag on corporate governance.
When they did rights issue at Rs. 10, they increased their own shareholding by 1% at zero cost (as many minority shareholders didn’t subscribe to rights issue- as many retail are passive investors/busy in their jobs).
Ideally, such rights issues should not be allowed.
However, would you have faith in such management?
What was the purpose of rights issue at Rs. 10- can someone please explain??
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