Look for promoters who are managing the actual business. Here, the stake is sold by Evergraph Holdings which is a PE Fund. PE Fund by virtue invests at bad/turnaround/very high growth phases and exits a decent chunk at their good times. Here, Evergraph has invested pre-IPO and took an exit in IPO and post-IPO.
KA Joseph, Sanjay Thapar, and its team are intact with their interest in the business. It’s just a change in the shareholding of those who were sitting for returns and not for long-run business. I think nothing material has changed in the business.
Regards,
Invested as a techno-funda bet.
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